<p>在过去几个月中，量子计算股票如 <strong>IonQ</strong>、<strong>Rigetti Computing</strong> 和 <strong>D-Wave Quantum</strong> 引起了广泛关注，并且其股价显著上涨。这些股票所经历的势头无疑使得量子计算成为一个诱人的投资机会。</p>
<p>但正如我之前所表达的，我会谨慎跟随大众投资主流量子计算股票。相反，我建议关注大型科技公司，尤其是 <strong>Nvidia</strong>(NVDA -3.12%) 和 <strong>Alphabet</strong>(GOOG 1.16%)(GOOGL 1.13%)。</p>
<p>难道 Nvidia 只是一个芯片公司吗？而 Alphabet 只是一个广告巨头吗？信不信由你，这两家 “七大奇迹” 成员在量子计算运动中都在幕后发挥着重要作用。</p>
<p>让我们探讨一下 Nvidia 和 Alphabet 在量子计算中的角色，并评估这两只股票是否是当前的良好购买机会。</p>
<h2>1. Nvidia 如何参与量子计算？</h2>
<p>Nvidia 专注于设计被称为图形处理单元（GPU）的芯片。GPU 是处理算法和复杂计算的硬件，帮助训练生成式人工智能应用，如大型语言模型和机器学习协议。</p>
<p>然而，Nvidia 业务的一个独特方面是其硬件与软件之间的紧密集成。该公司还提供一个名为计算统一设备架构（CUDA）的软件套件，层叠在 Nvidia 的硬件堆栈之上。</p>
<p>在 CUDA 生态系统中，Nvidia 提供了一个名为 CUDA-Q 的相关平台，专注于量子计算开发。CUDA-Q 被宣传为 “统一编程模型”。简单来说，CUDA-Q 架构允许 GPU、中央处理单元（CPU）和量子处理单元（QPU）在一个平台上无缝集成。</p>
<p>最近，该公司宣布 Google 正在利用 CUDA-Q 和 H100 GPU 来推动模拟，这将有助于设计搜索巨头的量子计算机。在我看来，这里微妙的想法是，Nvidia 继续为成为主要硬件和软件供应商解锁机会，并探索其各种人工智能产品和服务。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ1MDcvZ2V0dHlpbWFnZXMtMTY0ODYxNzEwOS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ1MDcvZ2V0dHlpbWFnZXMtMTY0ODYxNzEwOS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>2. Alphabet 如何参与量子计算？</h2>
<p>尽管 Nvidia 在半导体领域仍然占据主导地位，但值得注意的是，包括 Alphabet 在内的许多超大规模公司一直在探索开发自己的芯片。</p>
<p>去年 12 月，Alphabet 就其量子计算雄心做出了重大宣布。具体来说，Google Quantum 透露其新的量子芯片，名为 Willow，能够在不到五分钟的时间内完成一项计算，而这项计算在今天最强大的超级计算机上需要 10 的 27 次方年才能完成。</p>
<h2>Nvidia 和 Alphabet 的股票现在值得购买吗？</h2>
<p>虽然 Nvidia 和 Alphabet 在量子计算领域取得了显著进展，但重要的是要退一步考虑一些重要细节。</p>
<p>例如，尽管 Alphabet 的 Willow 芯片具有巨大的处理能力，但解决一个需要 10 的 27 次方年才能完成的问题现在真的重要吗？就我个人而言，我认为答案是 “否”。</p>
<p>而且尽管 CUDA-Q 似乎已经获得了一些令人印象深刻的进展，我会提醒投资者不要认为 Nvidia 业务的这一特定部分会在短期内产生显著的财务影响。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ad11acf20a8a7a80941017eda0c3c51b.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/ad11acf20a8a7a80941017eda0c3c51b.png"/></p>
<p>NVDA 市盈率（前瞻性）数据来自 YCharts。</p>
<p>目前，Nvidia 的前瞻市盈率（P/E）为 46.6。值得注意的是，这远低于该公司几年前的前瞻市盈率。考虑到 Nvidia 今天的业务与以往大相径庭，并且持续在销售和利润上创造记录增长，目前估值倍数的收缩表明 Nvidia 不仅价格合理，而且现在可能被视为便宜。</p>
<p>类似地，Alphabet 的前瞻市盈率为 22，与其三年和五年的平均水平相同。我认为投资者可能低估了 Alphabet 的潜力，因为该公司在广告领域面临来自 <strong>Meta Platforms</strong> 和 TikTok 的激烈竞争，以及在云计算市场中面临的挑战，目前该市场由 <strong>Amazon</strong> 和 <strong>Microsoft</strong> 主导。</p>
<p>我认为围绕 Alphabet 的担忧是错位的。尽管面临各种竞争环境，该公司依然凭借 Google 搜索和 YouTube 在网上保持主导地位，其云计算平台迅速成为 Alphabet 下一个大规模现金流的来源。</p>
<p>归根结底，我认为 Nvidia 和 Alphabet 都是值得大量购买的股票——但不一定是因为量子计算。虽然我认为量子计算在某个时刻可能会成为这两家公司的主要贡献者，但我认为还有其他更明确的短期催化剂，尤其是在人工智能领域的其他部分，将影响它们各自的增长。</p>

谷歌-A

谷歌-C

英伟达

<p>英伟达和谷歌正在量子计算领域崭露头角，英伟达整合了其用于量子开发的 CUDA-Q 平台，而谷歌的 Willow 芯片则实现了显著的计算成就。尽管它们在技术上取得了进展，但投资者仍需保持谨慎，因为量子计算的即时财务影响尚不确定。英伟达目前的估值看起来合理，而谷歌的潜力可能因竞争而被低估。两只股票都被推荐投资，主要是由于它们更广泛的人工智能能力，而不仅仅是量子计算</p>

<p>For the past few months, quantum computing stocks such as <strong>IonQ</strong>, <strong>Rigetti Computing</strong>, and <strong>D-Wave Quantum</strong> have garnered a lot of attention and witnessed pronounced run-ups in their share prices. The momentum each of these stocks is experiencing certainly makes the idea of quantum computing a tempting investment opportunity.</p>
<div class="lb-trans"><p>在过去几个月中，量子计算股票如 <strong>IonQ</strong>、<strong>Rigetti Computing</strong> 和 <strong>D-Wave Quantum</strong> 引起了广泛关注，并且其股价显著上涨。这些股票所经历的势头无疑使得量子计算成为一个诱人的投资机会。</p>
</div><p>But as I've expressed previously, I'd caution from following the crowd when it comes to mainstream quantum computing stocks. Instead, I'd suggest turning to big tech -- and in particular, <strong>Nvidia</strong>(NVDA -3.12%) and <strong>Alphabet</strong>(GOOG 1.16%)(GOOGL 1.13%).</p>
<div class="lb-trans"><p>但正如我之前所表达的，我会谨慎跟随大众投资主流量子计算股票。相反，我建议关注大型科技公司，尤其是 <strong>Nvidia</strong>(NVDA -3.12%) 和 <strong>Alphabet</strong>(GOOG 1.16%)(GOOGL 1.13%)。</p>
</div><p>Isn't Nvidia just a chip company? And isn't Alphabet just an advertising behemoth? Believe it or not, both of these &#34;Magnificent Seven&#34; members are leading the charge in the quantum computing movement behind the scenes.</p>
<div class="lb-trans"><p>难道 Nvidia 只是一个芯片公司吗？而 Alphabet 只是一个广告巨头吗？信不信由你，这两家 “七大奇迹” 成员在量子计算运动中都在幕后发挥着重要作用。</p>
</div><p>Let's explore how Nvidia and Alphabet are playing a role in quantum computing and assess if either of these stocks are good buying opportunities right now.</p>
<div class="lb-trans"><p>让我们探讨一下 Nvidia 和 Alphabet 在量子计算中的角色，并评估这两只股票是否是当前的良好购买机会。</p>
</div><h2>1. How is Nvidia involved in quantum computing?</h2>
<div class="lb-trans"><h2>1. Nvidia 如何参与量子计算？</h2>
</div><p>Nvidia specializes in designing chipsets known as graphics processing units (GPUs). GPUs are the hardware that process algorithms and sophisticated computations that help train generative AI applications, such as large language models and machine learning protocols.</p>
<div class="lb-trans"><p>Nvidia 专注于设计被称为图形处理单元（GPU）的芯片。GPU 是处理算法和复杂计算的硬件，帮助训练生成式人工智能应用，如大型语言模型和机器学习协议。</p>
</div><p>However, one aspect of Nvidia's business that is unique is its tight integration between hardware and software. The company also offers a software suite called Compute Unified Device Architecture (CUDA), which layers on top of Nvidia's hardware stack.</p>
<div class="lb-trans"><p>然而，Nvidia 业务的一个独特方面是其硬件与软件之间的紧密集成。该公司还提供一个名为计算统一设备架构（CUDA）的软件套件，层叠在 Nvidia 的硬件堆栈之上。</p>
</div><p>Within the CUDA ecosystem, Nvidia offers a tangential platform known as CUDA-Q that focuses specifically on quantum computing development. CUDA-Q is marketed as a &#34;unified programming model.&#34; In simple terms, the CUDA-Q architecture allows for seamless integration between GPUs, central processing units (CPUs), and quantum processing units (QPUs), all in a singular platform.</p>
<div class="lb-trans"><p>在 CUDA 生态系统中，Nvidia 提供了一个名为 CUDA-Q 的相关平台，专注于量子计算开发。CUDA-Q 被宣传为 “统一编程模型”。简单来说，CUDA-Q 架构允许 GPU、中央处理单元（CPU）和量子处理单元（QPU）在一个平台上无缝集成。</p>
</div><p>Recently, the company announced that Google is leveraging CUDA-Q and H100 GPUs to power simulations that will help in designing the search giant's quantum computer. To me, the subtle idea here is that Nvidia continues to unlock opportunities for becoming both the primary hardware and software provider for major corporations, and their various explorations of AI products and services.</p>
<div class="lb-trans"><p>最近，该公司宣布 Google 正在利用 CUDA-Q 和 H100 GPU 来推动模拟，这将有助于设计搜索巨头的量子计算机。在我看来，这里微妙的想法是，Nvidia 继续为成为主要硬件和软件供应商解锁机会，并探索其各种人工智能产品和服务。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ1MDcvZ2V0dHlpbWFnZXMtMTY0ODYxNzEwOS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F804507%2Fgettyimages-1648617109.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>2. How is Alphabet involved in quantum computing?</h2>
<div class="lb-trans"><h2>2. Alphabet 如何参与量子计算？</h2>
</div><p>Although Nvidia remains the dominant force in semiconductors, it's important to note that many hyperscalers including Alphabet have been exploring developing their own chipware.</p>
<div class="lb-trans"><p>尽管 Nvidia 在半导体领域仍然占据主导地位，但值得注意的是，包括 Alphabet 在内的许多超大规模公司一直在探索开发自己的芯片。</p>
</div><p>Back in December, Alphabet made a major announcement as it relates to its quantum computing ambitions. Specifically, Google Quantum revealed that its new quantum chip, dubbed Willow, was able to perform a computation in less than five minutes that would otherwise take today's most capable supercomputer 10 septillion years to figure out.</p>
<div class="lb-trans"><p>去年 12 月，Alphabet 就其量子计算雄心做出了重大宣布。具体来说，Google Quantum 透露其新的量子芯片，名为 Willow，能够在不到五分钟的时间内完成一项计算，而这项计算在今天最强大的超级计算机上需要 10 的 27 次方年才能完成。</p>
</div><h2>Are Nvidia and Alphabet stock good buys right now?</h2>
<div class="lb-trans"><h2>Nvidia 和 Alphabet 的股票现在值得购买吗？</h2>
</div><p>While Nvidia and Alphabet have made notable progress in the field of quantum computing, it's important to take a step back and consider some important details.</p>
<div class="lb-trans"><p>虽然 Nvidia 和 Alphabet 在量子计算领域取得了显著进展，但重要的是要退一步考虑一些重要细节。</p>
</div><p>For example, even though Alphabet's Willow chip possesses immense processing power, does figuring out a problem that would take 10 septillion years <em>really</em> matter right now? Personally, I think the answer is &#34;no.&#34;</p>
<div class="lb-trans"><p>例如，尽管 Alphabet 的 Willow 芯片具有巨大的处理能力，但解决一个需要 10 的 27 次方年才能完成的问题现在真的重要吗？就我个人而言，我认为答案是 “否”。</p>
</div><p>And while CUDA-Q appears to already have gained some impressive traction, I'd caution investors from buying into the idea that this specific part of Nvidia's business will make a meaningful financial impact anytime soon.</p>
<div class="lb-trans"><p>而且尽管 CUDA-Q 似乎已经获得了一些令人印象深刻的进展，我会提醒投资者不要认为 Nvidia 业务的这一特定部分会在短期内产生显著的财务影响。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ad11acf20a8a7a80941017eda0c3c51b.png" alt="" original-src="https://media.ycharts.com/charts/ad11acf20a8a7a80941017eda0c3c51b.png"/></p>
<p>NVDA PE Ratio (Forward) data by YCharts.</p>
<div class="lb-trans"><p>NVDA 市盈率（前瞻性）数据来自 YCharts。</p>
</div><p>Right now, Nvidia is trading at a forward price-to-earnings (P/E) multiple of 46.6. Notably, this is much lower than the company's forward P/E from even just a few years ago. Considering Nvidia is a much different business today and consistently generates record growth across sales and profits, the current contraction in valuation multiples suggests Nvidia is not only reasonably priced, but it could be seen as cheap right now.</p>
<div class="lb-trans"><p>目前，Nvidia 的前瞻市盈率（P/E）为 46.6。值得注意的是，这远低于该公司几年前的前瞻市盈率。考虑到 Nvidia 今天的业务与以往大相径庭，并且持续在销售和利润上创造记录增长，目前估值倍数的收缩表明 Nvidia 不仅价格合理，而且现在可能被视为便宜。</p>
</div><p>In a similar fashion, Alphabet's forward P/E of 22 is identical to its three- and five-year averages. I think investors may be discounting Alphabet's potential given the fierce competition the company faces in advertising from <strong>Meta Platforms</strong> and TikTok, and the challenging market dynamics in cloud computing, which is currently dominated by <strong>Amazon</strong> and <strong>Microsoft</strong>.</p>
<div class="lb-trans"><p>类似地，Alphabet 的前瞻市盈率为 22，与其三年和五年的平均水平相同。我认为投资者可能低估了 Alphabet 的潜力，因为该公司在广告领域面临来自 <strong>Meta Platforms</strong> 和 TikTok 的激烈竞争，以及在云计算市场中面临的挑战，目前该市场由 <strong>Amazon</strong> 和 <strong>Microsoft</strong> 主导。</p>
</div><p>I think concerns surrounding Alphabet are misaligned. Despite various competitive landscapes, the company remains a dominant force online thanks to Google Search and YouTube, and its cloud computing platform is swiftly becoming Alphabet's next big generator of accelerating cash flow.</p>
<div class="lb-trans"><p>我认为围绕 Alphabet 的担忧是错位的。尽管面临各种竞争环境，该公司依然凭借 Google 搜索和 YouTube 在网上保持主导地位，其云计算平台迅速成为 Alphabet 下一个大规模现金流的来源。</p>
</div><p>At the end of the day, I think both Nvidia and Alphabet are stocks to buy hand over fist -- but not necessarily because of quantum computing. While I think quantum computing could become a major contributor for both businesses at some point, I think there are more clear near-term catalysts underscored by other pockets of the AI realm that will influence their respective growth.</p>
<div class="lb-trans"><p>归根结底，我认为 Nvidia 和 Alphabet 都是值得大量购买的股票——但不一定是因为量子计算。虽然我认为量子计算在某个时刻可能会成为这两家公司的主要贡献者，但我认为还有其他更明确的短期催化剂，尤其是在人工智能领域的其他部分，将影响它们各自的增长。</p>
</div>

Nvidia and Alphabet Are Leading the Quantum Computing AI Race. But Are They a Buy?

- 量子计算股票如 IonQ 和 D-Wave Quantum 近期受到关注，股价上涨明显。  
- Nvidia 和 Alphabet 在量子计算领域发挥重要作用，Nvidia 提供 CUDA-Q 平台，Alphabet 则推出 Willow 芯片。  
- 尽管量子计算前景广阔，但当前投资者应关注更直接的增长催化剂。  

英伟达和谷歌-A 在量子计算 AI 竞赛中处于领先地位。但它们值得投资吗？