<p><strong>Palantir</strong>(PLTR -2.60%) 和 <strong>Nvidia</strong>(NVDA -1.32%) 是今年 <strong>标准普尔 500</strong> 指数中表现最好的两只股票。实际上，它们的股价涨幅分别排名第二和第三，仅次于 <strong>Vistra</strong>，这是一家因市场对人工智能（AI）繁荣的押注而大幅上涨的非监管公用事业公司，该繁荣推动了 Palantir 和 Nvidia 的上涨，并将对电力需求产生激增，以支持运行 AI 工作负载的数据中心。</p>
<p>Palantir 和 Nvidia 都回报了长期投资者，但今天哪一只股票更值得购买？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>商业模式：Nvidia vs. Palantir</h2>
<p>Nvidia 和 Palantir 都因在人工智能领域的领导地位而闻名，但这两家公司在该行业中占据的地位完全不同。</p>
<p>Nvidia 是一家无晶圆半导体公司，主导着数据中心 GPU 的市场——这些快速而强大的芯片特别适合 AI 软件的特定需求。去年，它在数据中心 GPU 细分市场的市场份额 reportedly 达到 98%。尽管该公司面临来自 <strong>Advanced Micro Devices</strong> 和 <strong>Intel</strong> 等同行的竞争，但它继续在加速计算方面推动创新，推出的新款 Blackwell 芯片比其之前的顶级 Hopper 架构芯片快得多、性能更强。到目前为止，Nvidia 的 CEO Jensen Huang 表示，Blackwell 芯片的需求 “疯狂”。</p>
<p>这家 AI 芯片巨头还通过其 CUDA 软件平台和应用程序编程接口建立了显著的竞争优势，该平台提供了一系列工具和库，可用于加速并行计算任务并大大提高系统的生产力。</p>
<p>Nvidia 在视频游戏、自动驾驶汽车和可视化等应用的芯片市场历史上也表现强劲。然而，在 AI 时代，数据中心部门已成为业务的主导。</p>
<p>另一方面，Palantir 是一家云软件公司，20 年前开始为美国情报机构提供服务，帮助他们在反恐等目的下 “连接点滴” 以挖掘数据。</p>
<p>这种商业模式现在被称为数据融合，在 AI 时代得到了政府和企业的广泛认可，特别是在 Palantir 人工智能平台（AIP）推出之后。AIP 结合了其机器学习技术的强大功能，使用户能够以大型语言模型的可访问性和互动性搜索他们的数据。</p>
<p>得益于其客户关系、竞争护城河和在数据融合方面的 proven 实力，Palantir 似乎在这一领域处于领先地位。</p>
<h2>财务状况：Nvidia vs. Palantir</h2>
<p>如果你想知道为什么 Nvidia 的股票在过去两年中飙升，你只需查看公司的收入和利润数字即可找到答案。到其 2025 财年第二季度，Nvidia 已报告连续五个季度的收入增长超过三位数，其利润也飙升。</p>
<p>其利润率现在超过 50%，在最近一个季度（截至 7 月 28 日），调整后的每股收益增长了 152%，收入增长了 122%，达到了 300 亿美元。</p>
<p>Palantir 的规模要小得多，增长速度也较慢。在第三季度，其收入增长了 30%，达到了 7.26 亿美元，而其 GAAP（公认会计原则）营业收入同比几乎增长了三倍，达到了 1.13 亿美元。</p>
<p>Palantir 的收入增长也连续五个季度加速。</p>
<h2>估值：Nvidia vs. Palantir</h2>
<p>Nvidia 和 Palantir 的股票都以昂贵的估值交易，反映了它们在 AI 领域的实力和快速增长。Nvidia 当前的市销率为 36，而 Palantir 的倍数更高，达到了 55。</p>
<p>但这两家公司都稳健盈利。在市盈率方面，Nvidia 的市盈率为 65，而 Palantir 的市盈率为 170。</p>
<p>简而言之，这两只股票今天都带有较大的溢价，但 Nvidia 在这方面似乎更具优势。</p>
<h2>哪一只股票更值得购买？</h2>
<p>这两只股票今年都获得了收益，但上述分析清楚地表明，哪一只股票对现在的投资者来说是赢家。Nvidia 的增长速度快于 Palantir。根据传统的估值指标，它更便宜，其竞争优势也更为根深蒂固。</p>
<p>虽然这两只股票在长期内都有继续超越的潜力，但 Nvidia 看起来是更可靠的投资选择，并且面临的回调风险较小。</p>

PLTR

英伟达

<p>英伟达和 Palantir 是领先的人工智能股票，在标准普尔 500 指数的股价涨幅中排名第二和第三。英伟达是一家无晶圆半导体公司，在数据中心 GPU 市场占据 98% 的份额，并报告了显著的收入增长。Palantir 是一家云软件公司，专注于数据融合，收入增长稳定。两只股票的估值都很高，但英伟达的增长速度更快，市盈率更低，被认为是比 Palantir 更可靠的投资</p>

<p><strong>Palantir</strong>(PLTR -2.60%) and <strong>Nvidia</strong>(NVDA -1.32%) are two of the best-performing stocks on the <strong>S&amp;P 500</strong> this year. In fact, they rank in second and third place for share price gains, respectively, behind only <strong>Vistra</strong>, an unregulated utility that has spiked on bets that the same artificial intelligence (AI) boom driving Palantir and Nvidia higher will create a surge in demand for electricity to power the data centers running AI workloads.</p>
<div class="lb-trans"><p><strong>Palantir</strong>(PLTR -2.60%) 和 <strong>Nvidia</strong>(NVDA -1.32%) 是今年 <strong>标准普尔 500</strong> 指数中表现最好的两只股票。实际上，它们的股价涨幅分别排名第二和第三，仅次于 <strong>Vistra</strong>，这是一家因市场对人工智能（AI）繁荣的押注而大幅上涨的非监管公用事业公司，该繁荣推动了 Palantir 和 Nvidia 的上涨，并将对电力需求产生激增，以支持运行 AI 工作负载的数据中心。</p>
</div><p>Both Palantir and Nvidia have rewarded their longer-term investors, but which is the better buy today?</p>
<div class="lb-trans"><p>Palantir 和 Nvidia 都回报了长期投资者，但今天哪一只股票更值得购买？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798287%2Fcoins-stack-with-balance-scale-compound-returns.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>Business model: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>商业模式：Nvidia vs. Palantir</h2>
</div><p>Nvidia and Palantir are both known for their leadership in the artificial intelligence space, but the companies occupy entirely different positions in that industry.</p>
<div class="lb-trans"><p>Nvidia 和 Palantir 都因在人工智能领域的领导地位而闻名，但这两家公司在该行业中占据的地位完全不同。</p>
</div><p>Nvidia is a fabless semiconductor company that dominates the market for data center GPUs -- fast and powerful chips that are especially well suited to the specific demands of AI software. Last year, it reportedly had a market share of 98% in the data center GPU niche. While the company is facing increased competition from peers like <strong>Advanced Micro Devices</strong> and <strong>Intel</strong>, it has continued to push the envelope in accelerated computing with its new Blackwell chips, which are significantly faster and more powerful than its previous top-of-the-line Hopper architecture chips. So far, Nvidia has experienced &#34;insane&#34; demand for the Blackwell chips, according to CEO Jensen Huang.</p>
<div class="lb-trans"><p>Nvidia 是一家无晶圆半导体公司，主导着数据中心 GPU 的市场——这些快速而强大的芯片特别适合 AI 软件的特定需求。去年，它在数据中心 GPU 细分市场的市场份额 reportedly 达到 98%。尽管该公司面临来自 <strong>Advanced Micro Devices</strong> 和 <strong>Intel</strong> 等同行的竞争，但它继续在加速计算方面推动创新，推出的新款 Blackwell 芯片比其之前的顶级 Hopper 架构芯片快得多、性能更强。到目前为止，Nvidia 的 CEO Jensen Huang 表示，Blackwell 芯片的需求 “疯狂”。</p>
</div><p>The AI chip giant has also built up significant competitive advantages through its CUDA software platform and application programming interface, which provides an array of tools and libraries that can be used to speed up parallel computing tasks and greatly increase a system's productivity.</p>
<div class="lb-trans"><p>这家 AI 芯片巨头还通过其 CUDA 软件平台和应用程序编程接口建立了显著的竞争优势，该平台提供了一系列工具和库，可用于加速并行计算任务并大大提高系统的生产力。</p>
</div><p>Nvidia has also been historically strong in the chip market for applications such as video games, autonomous vehicles, and visualization. However, the data center segment has come to dominate the business in the AI era.</p>
<div class="lb-trans"><p>Nvidia 在视频游戏、自动驾驶汽车和可视化等应用的芯片市场历史上也表现强劲。然而，在 AI 时代，数据中心部门已成为业务的主导。</p>
</div><p>Palantir, on the other hand, is a cloud software company that got its start 20 years ago serving U.S. intelligence agencies, helping them &#34;connect the dots&#34; as they mined their data for counterterrorism purposes, among others.</p>
<div class="lb-trans"><p>另一方面，Palantir 是一家云软件公司，20 年前开始为美国情报机构提供服务，帮助他们在反恐等目的下 “连接点滴” 以挖掘数据。</p>
</div><p>This business model, now known as data fusion, has gained traction with both the government and businesses in the AI era, especially following the launch of the Palantir Artificial Intelligence Platform (AIP). AIP, which combines the power of its machine learning technologies, allows users to search through their data with the accessibility and interactiveness of a large language model.</p>
<div class="lb-trans"><p>这种商业模式现在被称为数据融合，在 AI 时代得到了政府和企业的广泛认可，特别是在 Palantir 人工智能平台（AIP）推出之后。AIP 结合了其机器学习技术的强大功能，使用户能够以大型语言模型的可访问性和互动性搜索他们的数据。</p>
</div><p>Palantir seems to be leading the charge on that front, thanks to its customer relations, competitive moat, and proven strength in data fusion.</p>
<div class="lb-trans"><p>得益于其客户关系、竞争护城河和在数据融合方面的 proven 实力，Palantir 似乎在这一领域处于领先地位。</p>
</div><h2>Financials: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>财务状况：Nvidia vs. Palantir</h2>
</div><p>If you're wondering why Nvidia's stock has soared quite so much over the last two years, you only need to look at the company's top- and bottom-line numbers to find the answer. Through its fiscal 2025 second quarter, Nvidia has reported five straight quarters of triple-digit percentage revenue growth, and its profits have skyrocketed.</p>
<div class="lb-trans"><p>如果你想知道为什么 Nvidia 的股票在过去两年中飙升，你只需查看公司的收入和利润数字即可找到答案。到其 2025 财年第二季度，Nvidia 已报告连续五个季度的收入增长超过三位数，其利润也飙升。</p>
</div><p>Its profit margin is now above 50%, and in that most recent quarter, which ended July 28, adjusted earnings per share jumped 152% on revenue that grew 122% to $30 billion.</p>
<div class="lb-trans"><p>其利润率现在超过 50%，在最近一个季度（截至 7 月 28 日），调整后的每股收益增长了 152%，收入增长了 122%，达到了 300 亿美元。</p>
</div><p>Palantir is both much smaller and growing more slowly. In the third quarter, its revenue grew 30% to $726 million, and its GAAP (generally accepted accounting principles) income from operations nearly tripled year over year to $113 million.</p>
<div class="lb-trans"><p>Palantir 的规模要小得多，增长速度也较慢。在第三季度，其收入增长了 30%，达到了 7.26 亿美元，而其 GAAP（公认会计原则）营业收入同比几乎增长了三倍，达到了 1.13 亿美元。</p>
</div><p>Palantir's revenue growth has also accelerated for five quarters in a row.</p>
<div class="lb-trans"><p>Palantir 的收入增长也连续五个季度加速。</p>
</div><h2>Valuation: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>估值：Nvidia vs. Palantir</h2>
</div><p>Shares of both Nvidia and Palantir are trading at expensive valuations that reflect their strength in AI and rapid growth. Nvidia currently trades at a price-to-sales ratio of 36, while Palantir's multiple is an even loftier 55.</p>
<div class="lb-trans"><p>Nvidia 和 Palantir 的股票都以昂贵的估值交易，反映了它们在 AI 领域的实力和快速增长。Nvidia 当前的市销率为 36，而 Palantir 的倍数更高，达到了 55。</p>
</div><p>But both companies are solidly profitable. In terms of price-to-earnings ratio, Nvidia's is 65, while Palantir's is 170.</p>
<div class="lb-trans"><p>但这两家公司都稳健盈利。在市盈率方面，Nvidia 的市盈率为 65，而 Palantir 的市盈率为 170。</p>
</div><p>In short, both stocks carry big premiums today, but Nvidia seems to have the edge here.</p>
<div class="lb-trans"><p>简而言之，这两只股票今天都带有较大的溢价，但 Nvidia 在这方面似乎更具优势。</p>
</div><h2>Which is the better buy?</h2>
<div class="lb-trans"><h2>哪一只股票更值得购买？</h2>
</div><p>Both stocks have earned their gains this year, but the breakdown above makes it clear which one is the winner for investors buying in now. Nvidia is growing faster than Palantir. It's cheaper according to conventional valuation metrics, and its competitive advantages are more entrenched.</p>
<div class="lb-trans"><p>这两只股票今年都获得了收益，但上述分析清楚地表明，哪一只股票对现在的投资者来说是赢家。Nvidia 的增长速度快于 Palantir。根据传统的估值指标，它更便宜，其竞争优势也更为根深蒂固。</p>
</div><p>While both stocks have the potential to continue to outperform over the long term, Nvidia looks like the more reliable business to own here, and it's less at risk of a pullback.</p>
<div class="lb-trans"><p>虽然这两只股票在长期内都有继续超越的潜力，但 Nvidia 看起来是更可靠的投资选择，并且面临的回调风险较小。</p>
</div>

Better Artificial Intelligence Stock: Nvidia vs. Palantir

- Palantir 和 Nvidia 是今年 S&P 500 中表现最佳的股票，分别排名第二和第三。  
- Nvidia 在数据中心 GPU 市场占有 98% 的份额，且其新款 Blackwell 芯片需求强劲。  
- 相比之下，Palantir 的收入增长较慢，但在数据融合领域具备竞争优势。  

更好的人工智能股票：英伟达 vs. Palantir Tech