<p><strong>英伟达</strong>（NVDA 3.13%）在过去几年中一直是投资者的稳赢之选。这家人工智能（AI）芯片巨头连续几个季度实现了三位数的盈利增长，推动股价直线飙升。英伟达股价在过去五年中上涨超过 2500%，并有望在 2024 年增长超过 160%。</p>
<p>这一切听起来很不错，但您可能想知道这颗 AI 明星在未来几个月是否会继续飙升，或者是否其他 AI 公司能为您提供更好的投资机会。一个很好的例子是 <strong>博通</strong>（AVGO 0.48%），一家网络公司，可能在其 AI 增长故事中处于较早阶段，提供更强的盈利潜力。</p>
<p>您应该忘记英伟达，立即购买这只 AI 股票吗？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQyNDIvZ2V0dHlpbWFnZXMtMTEzOTcwNDM0OC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQyNDIvZ2V0dHlpbWFnZXMtMTEzOTcwNDM0OC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>博通的 AI 增长</h2>
<p>博通是一家网络巨头，在数据中心网络、家庭连接、智能手机等领域销售数千种产品。但近年来，人工智能已成为该公司的一个关键增长领域，博通甚至在最新的财报中表示，AI 收入持续 “强劲增长”。</p>
<p>在上个季度，博通表示，来自超大规模数据中心的对 AI 网络和定制加速器的需求推动收入增长了 47%，达到了 130 亿美元以上。定制 AI 加速器同比增长超过三倍，以太网交换增长四倍，光学激光器和用于光互连的芯片增长了三倍。最后，PCI Express 交换机比去年同期增长了一倍多。</p>
<p>博通预计 AI 收入将在第四季度按季度增长 10%，达到 35 亿美元，并预测全年 AI 收入将达到 120 亿美元，高于先前预测的 110 亿美元。所有这些都是因为超大规模数据中心扩大其 AI 集群。考虑到今天的 AI 市场预计将从 2000 亿美元增长到本十年末的 1 万亿美元，这一趋势可能会持续。</p>
<p>除此之外，博通收购的云计算公司 VMWare 为未来几个月和几年提供了另一个潜在增长驱动力。VMWare Cloud Foundation（VCF）是一个完整的软件堆栈，为客户虚拟化整个数据中心。最近对 VCF 的预订帮助博通在本季度达到了 25 亿美元的年化预订价值，比上一季度增长了 32%。</p>
<h2>VMWare 的盈利目标</h2>
<p>此外，博通在实现 VMWare 盈利目标方面遥遥领先。该公司在去年收购 VMWare 时，旨在在交易后三年内实现 850 亿美元的调整后息税折旧及摊销前利润（EBITDA）。如今，博通表示，最早在 2025 财年就能实现或超过这一目标。</p>
<p>现在让我们考虑是否应该忘记英伟达，转向这家增长中的 AI 公司。英伟达的盈利目前难以超越，考虑到该公司对创新的关注以及 AI 市场的整体增长预期，它可能会继续保持这种出色表现。</p>
<p>但英伟达的股价可能不会直线飙升，到一定程度时可能会停滞或下跌。考虑到其增长，目前股价并不昂贵，前瞻性盈利估计为 46 倍，但博通也提供了一个稳健的增长故事，看起来更便宜。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/521c9d969015791e8021000f755cf52b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/521c9d969015791e8021000f755cf52b.png"/></p>
<p>AVGO 市盈率（前瞻）数据来源：YCharts。</p>
<p>近年来，博通股价上涨。该公司表现出色，以至于今年早些时候进行了 10 对 1 的股票分割（就像英伟达一样），将股价降至更多投资者可以接受的水平。</p>
<p>与英伟达的表现相比，博通今年的股价涨幅仍然逊色。这，加上合理的估值，为股价在短期和长期内上涨留下了足够的空间。所有这些意味着您不应永远忘记英伟达，但现在，您可能更倾向于购买博通，并有望从该公司 AI 增长故事的早期阶段中受益。</p>

博通

<p>这篇文章讨论了投资者是否应该考虑在人工智能领域选择博通（Broadcom）而不是英伟达（Nvidia）。英伟达在过去五年中股价上涨超过 2500%，取得了显著增长，但博通正在崛起成为一个强大的人工智能参与者，其报告显示，由于人工智能需求的推动，其营收增长了 47%。博通的人工智能营收预计将增长，得益于其对 VMWare 的收购。虽然英伟达仍然是一个强劲的表现者，但博通较低的估值和增长潜力使其成为寻找人工智能机会的投资者的一个吸引选项</p>

<p><strong>Nvidia</strong>(NVDA 3.13%) has been a pretty sure bet for investors over the past few years. The artificial intelligence (AI) chip giant has delivered triple-digit gains in earnings quarter after quarter, and that has prompted the stock to skyrocket. Nvidia shares have climbed more than 2,500% over the past five years and are heading for an increase of more than 160% in 2024.</p>
<div class="lb-trans"><p><strong>英伟达</strong>（NVDA 3.13%）在过去几年中一直是投资者的稳赢之选。这家人工智能（AI）芯片巨头连续几个季度实现了三位数的盈利增长，推动股价直线飙升。英伟达股价在过去五年中上涨超过 2500%，并有望在 2024 年增长超过 160%。</p>
</div><p>All of this sounds great, but you may be wondering if this AI star will continue to rocket higher in the months to come or if another AI player could offer you a better investment opportunity. A good example is <strong>Broadcom</strong>(AVGO 0.48%), a networking company that may be earlier in its AI growth story, offering stronger potential for gains ahead.</p>
<div class="lb-trans"><p>这一切听起来很不错，但您可能想知道这颗 AI 明星在未来几个月是否会继续飙升，或者是否其他 AI 公司能为您提供更好的投资机会。一个很好的例子是 <strong>博通</strong>（AVGO 0.48%），一家网络公司，可能在其 AI 增长故事中处于较早阶段，提供更强的盈利潜力。</p>
</div><p>Should you forget Nvidia and buy this AI stock right now?</p>
<div class="lb-trans"><p>您应该忘记英伟达，立即购买这只 AI 股票吗？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQyNDIvZ2V0dHlpbWFnZXMtMTEzOTcwNDM0OC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794242%2Fgettyimages-1139704348.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Broadcom's AI growth</h2>
<div class="lb-trans"><h2>博通的 AI 增长</h2>
</div><p>Broadcom is a networking giant, selling thousands of products used in the areas of data center networking, home connectivity, smartphones, and more. But in recent times, AI has emerged as a key growth area for the company, and Broadcom even said in its latest earnings report that AI revenue continues to &#34;grow strongly.&#34;</p>
<div class="lb-trans"><p>博通是一家网络巨头，在数据中心网络、家庭连接、智能手机等领域销售数千种产品。但近年来，人工智能已成为该公司的一个关键增长领域，博通甚至在最新的财报中表示，AI 收入持续 “强劲增长”。</p>
</div><p>In the quarter, Broadcom said demand from hyperscalers -- or large-scale data centers -- for AI networking and custom accelerators drove a 47% increase in revenue, to more than $13 billion. Custom AI accelerators more than tripled year over year, while Ethernet switching grew four times, and optical lasers and dies used in optical interconnects increased by three. Finally, PCI Express switches more than doubled from last year's level.</p>
<div class="lb-trans"><p>在上个季度，博通表示，来自超大规模数据中心的对 AI 网络和定制加速器的需求推动收入增长了 47%，达到了 130 亿美元以上。定制 AI 加速器同比增长超过三倍，以太网交换增长四倍，光学激光器和用于光互连的芯片增长了三倍。最后，PCI Express 交换机比去年同期增长了一倍多。</p>
</div><p>Broadcom expects AI revenue to climb sequentially by 10% to $3.5 billion in the fourth quarter and predicts AI revenue of $12 billion for the year -- up from an earlier forecast for $11 billion. All of this is as hyperscalers expand their AI clusters. Considering that today's AI market is forecast to grow from $200 billion to $1 trillion by the end of the decade, this trend may continue.</p>
<div class="lb-trans"><p>博通预计 AI 收入将在第四季度按季度增长 10%，达到 35 亿美元，并预测全年 AI 收入将达到 120 亿美元，高于先前预测的 110 亿美元。所有这些都是因为超大规模数据中心扩大其 AI 集群。考虑到今天的 AI 市场预计将从 2000 亿美元增长到本十年末的 1 万亿美元，这一趋势可能会持续。</p>
</div><p>Along with this, Broadcom's purchase of cloud computing company VMWare offers another potential growth driver in the months and years to come. The VMWare Cloud Foundation (VCF) is a complete software stack that virtualizes an entire data center for a customer. Recent bookings for VCF helped Broadcom reach an annualized booking value of $2.5 billion during the quarter, up 32% from the previous quarter.</p>
<div class="lb-trans"><p>除此之外，博通收购的云计算公司 VMWare 为未来几个月和几年提供了另一个潜在增长驱动力。VMWare Cloud Foundation（VCF）是一个完整的软件堆栈，为客户虚拟化整个数据中心。最近对 VCF 的预订帮助博通在本季度达到了 25 亿美元的年化预订价值，比上一季度增长了 32%。</p>
</div><h2>VMWare's profitability goals</h2>
<div class="lb-trans"><h2>VMWare 的盈利目标</h2>
</div><p>On top of this, Broadcom is well ahead of its VMWare profitability goals. The company, when it acquired VMWare last year, aimed to generate adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $8.5 billion three years after the operation. Today, Broadcom says it's set to meet or beat that goal as early as the 2025 fiscal year.</p>
<div class="lb-trans"><p>此外，博通在实现 VMWare 盈利目标方面遥遥领先。该公司在去年收购 VMWare 时，旨在在交易后三年内实现 850 亿美元的调整后息税折旧及摊销前利润（EBITDA）。如今，博通表示，最早在 2025 财年就能实现或超过这一目标。</p>
</div><p>Now let's consider whether we should forget about Nvidia and turn to this growing AI player, instead. Nvidia's earnings are difficult to beat these days, and considering the company's focus on innovation and the general growth projections for the AI market, it could continue to deliver this top performance.</p>
<div class="lb-trans"><p>现在让我们考虑是否应该忘记英伟达，转向这家增长中的 AI 公司。英伟达的盈利目前难以超越，考虑到该公司对创新的关注以及 AI 市场的整体增长预期，它可能会继续保持这种出色表现。</p>
</div><p>But Nvidia's stock may not continue to soar in a straight line, and at a certain point, could stagnate or dip. The shares don't look expensive today at 46x forward earnings estimates, considering its growth, but Broadcom, which also offers a solid growth story, looks cheaper.</p>
<div class="lb-trans"><p>但英伟达的股价可能不会直线飙升，到一定程度时可能会停滞或下跌。考虑到其增长，目前股价并不昂贵，前瞻性盈利估计为 46 倍，但博通也提供了一个稳健的增长故事，看起来更便宜。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/521c9d969015791e8021000f755cf52b.png" alt="" original-src="https://media.ycharts.com/charts/521c9d969015791e8021000f755cf52b.png"/></p>
<p>AVGO PE Ratio (Forward) data by YCharts.</p>
<div class="lb-trans"><p>AVGO 市盈率（前瞻）数据来源：YCharts。</p>
</div><p>Broadcom stock has climbed in recent years. It performed so well that the company launched a 10-for-1 stock split (like Nvidia) earlier this year to bring the shares down to a level that's more accessible to a broader range of investors.</p>
<div class="lb-trans"><p>近年来，博通股价上涨。该公司表现出色，以至于今年早些时候进行了 10 对 1 的股票分割（就像英伟达一样），将股价降至更多投资者可以接受的水平。</p>
</div><p>Broadcom's double-digit share-price increase this year still pales, compared to the performance of Nvidia. This, along with a reasonable valuation, leaves plenty of room for the stock to run in the near term and over time. All this means that you shouldn't forget Nvidia forever, but right now, you may want to favor buying Broadcom and potentially benefit from the early days of this company's AI growth story.</p>
<div class="lb-trans"><p>与英伟达的表现相比，博通今年的股价涨幅仍然逊色。这，加上合理的估值，为股价在短期和长期内上涨留下了足够的空间。所有这些意味着您不应永远忘记英伟达，但现在，您可能更倾向于购买博通，并有望从该公司 AI 增长故事的早期阶段中受益。</p>
</div>

Should You Forget Nvidia and Buy This Artificial Intelligence (AI) Stock Right Now?

- Nvidia 股价过去五年上涨超过 2,500%，预计 2024 年将增长 160%。
- Broadcom 在 AI 领域表现强劲，季度收入增长 47%，预计 AI 收入将达 120 亿美元。
- 尽管 Nvidia 表现优异，Broadcom 可能提供更具吸引力的投资机会。

你是否应该忘记英伟达而立即购买这只人工智能股票？