<p><strong>亚马逊</strong>(AMZN 0.78%) 上周再次让许多投资者感到惊讶。消息传出，亚马逊将与 <strong>道明尼资源</strong>(D 0.30%) 合作，探索在美国开发核能生产。这一新合作的投资金额并未公开。</p>
<p>即使像亚马逊这样的大型企业已经涉足多个行业，但许多投资者仍然没有预料到这一消息。现在投资者面临的问题是，这一最新消息如何影响亚马逊股票的走势。</p>
<p>与其给投资者另一个购买亚马逊股票的理由，我更倾向于认为这一消息使亚马逊股票成为一个 “持有”。以下是原因。</p>
<h2>亚马逊为何对核能感兴趣？</h2>
<p>首先，投资者应该明白，亚马逊并没有表明它想成为一个全面的能源提供商。因此，这一消息不应改变该股票的整体投资主题。相反，亚马逊采取这一举措是为了应对一个日益严重的问题：为其不断扩大的数据中心集合提供足够价格合理的电力。</p>
<p>根据 <strong>高盛</strong> 的数据，数据中心目前占全球电力使用量的 1% 至 2%。大型数据中心通常需要 100 兆瓦（MW）以上的电力。100 兆瓦足以为 8 万至 10 万个普通家庭供电。Grand View Research 估计，数据中心行业将以每年 11% 的复合年增长率增长至 2030 年。按照这一复合年增长率，数据中心的数量将大约每七年翻一番。</p>
<p>显然，能源对于亚马逊的盈利计划至关重要。由于亚马逊网络服务（AWS）是该公司的云计算部门，数据中心是 AWS 的命脉。该公司是最大的云基础设施服务提供商，因此，领先于 <strong>微软</strong> 和谷歌母公司 <strong>Alphabet</strong> 等新兴竞争对手对其成功至关重要。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQzNjYvMTg4MTktNS5qcGVnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQzNjYvMTg4MTktNS5qcGVnJnc9NzAw"/></p>
<p>图片来源：Statista。</p>
<p>此外，云行业对于蓬勃发展的人工智能（AI）热潮也至关重要，因为许多 AI 工作负载在云中运行。因此，亚马逊需要确保自己不会因为缺乏电力而失去客户。</p>
<h2>与道明尼资源的合作</h2>
<p>考虑到这一需求，与道明尼资源合作探索建造小型模块反应堆（SMRs）是一个合乎逻辑的回应。该公司将核能视为解决为维持 AWS 运营所需足够清洁能源的部分方案。</p>
<p>亚马逊之所以选择道明尼，是因为据科技市场 Datacenters.com 称，亚马逊已在道明尼位于弗吉尼亚州的家乡运营了 76 个数据中心。该州拥有全球最大的数据中心集中地，据估计，弗吉尼亚州 80% 的数据中心行业位于华盛顿特区西部的劳登县。</p>
<p>此外，这样的合作确保了亚马逊和道明尼将在彼此的附近建造数据中心和 SMRs，并设计它们以满足亚马逊的需求。这意味着数据中心将更少依赖美国紧张的能源网络，降低服务中断的可能性。这也可能成为亚马逊的竞争优势，特别是如果竞争对手不主动解决未来的电力需求。</p>
<h2>亚马逊的投资主题</h2>
<p>最终，与道明尼的合作并没有改变亚马逊的投资主题，而是维持了它。这使亚马逊成为少数直接参与发电的非公用事业公司之一，尽管这一联盟不太可能直接增加亚马逊的净收入。</p>
<p>然而，这种合作可能是必要的，因为数据中心行业对已经紧张的电网提出了巨大的需求。事实上，鉴于美国电力基础设施的现状，不解决这个问题可能会阻碍亚马逊的增长，并可能迫使众多投资者抛售股票。</p>
<p>假设 SMRs 能够产生安全、清洁和可靠的电力，并且数量足够，亚马逊现在可以实现其云计算和人工智能（AI）的愿景。这增加了亚马逊投资主题能够顺利进行的可能性，因为它积极应对了成功的一个重要障碍。</p>

亚马逊

道明尼资源

<p>亚马逊已与道明尼资源合作，探索在美国进行核能生产，旨在为其不断扩张的数据中心提供电力保障。尽管这一举措并未改变亚马逊的投资理念，但它应对了云计算领域对能源日益增长的需求，特别是对亚马逊云服务（AWS）的需求。这一合作被视为对潜在电力短缺的战略性回应，确保运营可靠性，并在云计算和人工智能市场上保持亚马逊的竞争优势</p>

<p><strong>Amazon</strong>(AMZN 0.78%) managed to surprise many investors again last week. News came out that it will partner with <strong>Dominion Energy</strong>(D 0.30%) to explore the development of nuclear energy production in the U.S. The amount being invested in this new partnership was not made public.</p>
<div class="lb-trans"><p><strong>亚马逊</strong>(AMZN 0.78%) 上周再次让许多投资者感到惊讶。消息传出，亚马逊将与 <strong>道明尼资源</strong>(D 0.30%) 合作，探索在美国开发核能生产。这一新合作的投资金额并未公开。</p>
</div><p>Not many investors were expecting this news, even though a conglomerate like Amazon has found its way into multiple industries over its existence. The question now for investors is how this recent news affects the trajectory of Amazon stock.</p>
<div class="lb-trans"><p>即使像亚马逊这样的大型企业已经涉足多个行业，但许多投资者仍然没有预料到这一消息。现在投资者面临的问题是，这一最新消息如何影响亚马逊股票的走势。</p>
</div><p>Rather than giving investors another reason to buy Amazon stock, I'm inclined to think this news makes Amazon stock a <em>hold</em>. Here's why.</p>
<div class="lb-trans"><p>与其给投资者另一个购买亚马逊股票的理由，我更倾向于认为这一消息使亚马逊股票成为一个 “持有”。以下是原因。</p>
</div><h2>Why is Amazon interested in nuclear energy?</h2>
<div class="lb-trans"><h2>亚马逊为何对核能感兴趣？</h2>
</div><p>First, investors should understand that Amazon has given no indication it wants to become a full-fledged energy provider. So this news should not change the stock's overall investment thesis. Instead, Amazon took this action to get ahead of what it sees as a growing problem: Finding enough reasonably priced electricity to power its expanding collection of data centers.</p>
<div class="lb-trans"><p>首先，投资者应该明白，亚马逊并没有表明它想成为一个全面的能源提供商。因此，这一消息不应改变该股票的整体投资主题。相反，亚马逊采取这一举措是为了应对一个日益严重的问题：为其不断扩大的数据中心集合提供足够价格合理的电力。</p>
</div><p>According to <strong>Goldman Sachs</strong>, data centers currently claim 1% to 2% of worldwide electricity usage. Large data centers often require 100 megawatts (MW) of electricity or more. 100 MW is enough to power 80,000 to 100,000 average homes. Grand View Research estimates that the data center industry will grow at a compound annual growth rate (CAGR) of 11% through 2030. At that CAGR, the number of data centers will double approximately every seven years.</p>
<div class="lb-trans"><p>根据 <strong>高盛</strong> 的数据，数据中心目前占全球电力使用量的 1% 至 2%。大型数据中心通常需要 100 兆瓦（MW）以上的电力。100 兆瓦足以为 8 万至 10 万个普通家庭供电。Grand View Research 估计，数据中心行业将以每年 11% 的复合年增长率增长至 2030 年。按照这一复合年增长率，数据中心的数量将大约每七年翻一番。</p>
</div><p>Clearly, energy is critical to Amazon's profit plans. Since Amazon Web Services (AWS), the company's cloud computing arm, generates most of Amazon's operating income, data centers are the lifeblood of AWS. The company is the largest provider of cloud infrastructure services, so staying ahead of emerging rivals such as <strong>Microsoft</strong> and Google parent <strong>Alphabet</strong> is essential to its success.</p>
<div class="lb-trans"><p>显然，能源对于亚马逊的盈利计划至关重要。由于亚马逊网络服务（AWS）是该公司的云计算部门，数据中心是 AWS 的命脉。该公司是最大的云基础设施服务提供商，因此，领先于 <strong>微软</strong> 和谷歌母公司 <strong>Alphabet</strong> 等新兴竞争对手对其成功至关重要。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTQzNjYvMTg4MTktNS5qcGVnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F794366%2F18819-5.jpeg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Statista.</p>
<div class="lb-trans"><p>图片来源：Statista。</p>
</div><p>Moreover, the cloud industry is also vital to the burgeoning artificial intelligence (AI) boom as so many AI workloads run in the cloud. Hence, Amazon needs to ensure it does not lose customers because of a lack of electricity.</p>
<div class="lb-trans"><p>此外，云行业对于蓬勃发展的人工智能（AI）热潮也至关重要，因为许多 AI 工作负载在云中运行。因此，亚马逊需要确保自己不会因为缺乏电力而失去客户。</p>
</div><h2>The Dominion Energy partnership</h2>
<div class="lb-trans"><h2>与道明尼资源的合作</h2>
</div><p>Given that need, its partnership with Dominion Energy to explore what it would take to build small modular reactors (SMRs) is a logical response. The company sees nuclear energy as a partial solution to finding sufficient amounts of <em>clean</em> energy to maintain AWS' operations.</p>
<div class="lb-trans"><p>考虑到这一需求，与道明尼资源合作探索建造小型模块反应堆（SMRs）是一个合乎逻辑的回应。该公司将核能视为解决为维持 AWS 运营所需足够清洁能源的部分方案。</p>
</div><p>Amazon chose Dominion specifically because Amazon already operates 76 data centers in Dominion's home state of Virginia, according to technology marketplace Datacenters.com. The state claims the largest concentration of data centers in the world, with an estimated 80% of Virginia's data center industry located in Loudoun County, just west of Washington, D.C.</p>
<div class="lb-trans"><p>亚马逊之所以选择道明尼，是因为据科技市场 Datacenters.com 称，亚马逊已在道明尼位于弗吉尼亚州的家乡运营了 76 个数据中心。该州拥有全球最大的数据中心集中地，据估计，弗吉尼亚州 80% 的数据中心行业位于华盛顿特区西部的劳登县。</p>
</div><p>Additionally, such a partnership ensures that Amazon and Dominion will build data centers and SMRs in close proximity to one another and design them to serve Amazon's purposes. This means the data centers will rely less on the U.S.'s strained energy grid, reducing the likelihood of service interruptions. That can also become a competitive advantage for Amazon, especially if competitors do not proactively address their future electricity needs.</p>
<div class="lb-trans"><p>此外，这样的合作确保了亚马逊和道明尼将在彼此的附近建造数据中心和 SMRs，并设计它们以满足亚马逊的需求。这意味着数据中心将更少依赖美国紧张的能源网络，降低服务中断的可能性。这也可能成为亚马逊的竞争优势，特别是如果竞争对手不主动解决未来的电力需求。</p>
</div><h2>The Amazon investment thesis</h2>
<div class="lb-trans"><h2>亚马逊的投资主题</h2>
</div><p>Ultimately, the partnership with Dominion does not change Amazon's investment thesis. Instead, it maintains it. It makes Amazon one of the few non-utilities to directly involve itself in the generation of electricity, which may sound strange since the alliance is unlikely to directly increase Amazon's net income.</p>
<div class="lb-trans"><p>最终，与道明尼的合作并没有改变亚马逊的投资主题，而是维持了它。这使亚马逊成为少数直接参与发电的非公用事业公司之一，尽管这一联盟不太可能直接增加亚马逊的净收入。</p>
</div><p>However, the partnership is probably necessary as the data center industry places enormous demands on an already strained electrical grid. In fact, given the current state of America's electric infrastructure, not addressing the issue could have stopped Amazon's growth in its tracks and may have forced numerous investors to sell the stock.</p>
<div class="lb-trans"><p>然而，这种合作可能是必要的，因为数据中心行业对已经紧张的电网提出了巨大的需求。事实上，鉴于美国电力基础设施的现状，不解决这个问题可能会阻碍亚马逊的增长，并可能迫使众多投资者抛售股票。</p>
</div><p>Assuming the SMRs can produce safe, clean, and reliable electricity in adequate amounts, Amazon can now carry out its vision for the cloud and, by extension, artificial intelligence (AI). This increases the likelihood that the Amazon investment thesis will stay on track as it proactively addresses a major obstacle to success.</p>
<div class="lb-trans"><p>假设 SMRs 能够产生安全、清洁和可靠的电力，并且数量足够，亚马逊现在可以实现其云计算和人工智能（AI）的愿景。这增加了亚马逊投资主题能够顺利进行的可能性，因为它积极应对了成功的一个重要障碍。</p>
</div>

Amazon Is Getting Into Nuclear Energy. Is It Time to Buy Its Stock?

- 亚马逊与 Dominion Energy 合作开发核能，未公开投资金额。  
- 此举旨在解决数据中心对电力的需求，确保 AWS 运营。  
- 合作不改变亚马逊的投资论点，反而维护其增长潜力。

亚马逊正在进军核能领域。现在是购买其股票的好时机吗？