<p>你会惊讶地发现，在过去的 12 个月里，<strong>亚马逊</strong>（AMZN -0.24%）的总运营收入中有 60% 仅来自于亚马逊网络服务（AWS）吗？这是真的！虽然有些人仍然将亚马逊视为在线零售商，但 AWS 是该公司最赚钱的业务。考虑到人工智能（AI）的崛起，这一点尤为重要。</p>
<p>与其用成千上万的字，不如看看下面的三张图表，展示了为什么亚马逊是今天最值得拥有的 AI 股票之一。</p>
<h2>1. 数据中心</h2>
<p>人工智能对效率的提升是一个福音，并且有潜力在时间的推移中大幅提高生产力。然而，这项技术也带来了自身的一系列挑战。如下所示，管理和处理所需的大量数据是最大的挑战：</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ0ODUvc3RhdGlzdGljX2lkMTQxMjc2MV9haS1pbmZyYXN0cnVjdHVyZS1jaGFsbGVuZ2VzLWdsb2JhbGx5LTIwMjMucG5nJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ0ODUvc3RhdGlzdGljX2lkMTQxMjc2MV9haS1pbmZyYXN0cnVjdHVyZS1jaGFsbGVuZ2VzLWdsb2JhbGx5LTIwMjMucG5nJnc9NzAw"/></p>
<p>这就是亚马逊的用武之地。该公司是全球领先的云数据服务提供商，并打算保持这一地位。亚马逊计划在未来十年内在全球投资约 1000 亿美元建设 200 多个数据中心。这将确保 AWS 能够继续作为全球领导者。</p>
<p>AWS 的运作方式类似于公用事业，客户为他们使用的数据付费。在一个数据需求不断增长的世界里，这是一种极好的商业模式。该部门在 2024 年第三季度增长了 19%，达到了 275 亿美元。在过去的 12 个月里，它的销售额也超过了 1000 亿美元，运营收入达到了 360 亿美元。随着 AI 需求的增加和产能的扩展，AWS 将继续为利润提供动力。</p>
<h2>2. 现金流</h2>
<p>在 2020 年和 2021 年，亚马逊是刺激政策的主要受益者。人们在消费，利率接近零，亚马逊的运营现金流飙升至创纪录的高位。运营现金流本质上是公司主要业务所产生的资金，是评估成功的绝佳指标。</p>
<p>在亚马逊的案例中，它是来自产品销售、广告销售、第三方卖家服务和 AWS 的现金流。虽然刺激政策的年份表现出色，但亚马逊最近的运营现金流却大幅飙升：</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/fcbb1c464047d854acc55eee2a108c9e.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/fcbb1c464047d854acc55eee2a108c9e.png"/></p>
<p>AMZN 运营现金流（TTM）数据来自 YCharts</p>
<p>在过去的 12 个月中产生的 1130 亿美元无疑是历史最高，远超 2020-2021 年的繁荣。这在很大程度上是由于 AWS 销售的激增。由于 AI 驱动的需求，现金流应继续达到新高，使亚马逊能够大力投资于增长，并维持其在云计算领域的领先地位。</p>
<h2>3. 估值</h2>
<p><strong>标准普尔 500</strong> 指数在 2024 年创下了 50 多次的新高，许多公司的估值非常高。然而，亚马逊的股价仍然合理。根据上述现金流和收益，它的交易价格低于五年的历史平均水平，如下所示。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4a6805305d7bf53beb0b5620f7475e4d.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/4a6805305d7bf53beb0b5620f7475e4d.png"/></p>
<p>AMZN 每股现金流与股价比率（TTM）数据来自 YCharts</p>
<p>根据明年的预估，亚马逊的市盈率降至仅 37，虽然这听起来仍然很高，但对于该公司来说历史上却相对较低。尽管市场迅速上涨，亚马逊仍然是长期投资者的绝佳价值。</p>
<p>有数十只优质的 AI 股票值得考虑，我建议至少拥有几只。考虑到对数据的强烈需求、亚马逊丰厚的现金流生成能力以及合理的估值，亚马逊股票是长期投资的优秀选择。</p>

亚马逊

<p>亚马逊被认为是顶级人工智能股票，主要基于三个关键因素：1）AWS 产生了 60% 的运营收入，并计划投资 1000 亿美元用于数据中心，以保持其领导地位；2）运营现金流达到创纪录的 1130 亿美元，受益于人工智能需求；3）尽管市场处于高位，亚马逊的股票估值仍然合理，交易价格低于历史平均水平。这些因素使亚马逊成为人工智能领域强劲的长期投资</p>

<p>Would it surprise you to hear that 60% of <strong>Amazon</strong>'s (AMZN -0.24%) total operating income came from Amazon Web Services (AWS) alone over the past 12 months? It's true! While some still consider Amazon an online retailer, AWS is the company's best moneymaker. This is even more important given the rise of artificial intelligence (AI).</p>
<div class="lb-trans"><p>你会惊讶地发现，在过去的 12 个月里，<strong>亚马逊</strong>（AMZN -0.24%）的总运营收入中有 60% 仅来自于亚马逊网络服务（AWS）吗？这是真的！虽然有些人仍然将亚马逊视为在线零售商，但 AWS 是该公司最赚钱的业务。考虑到人工智能（AI）的崛起，这一点尤为重要。</p>
</div><p>Rather than use thousands of words, below are three charts that show why Amazon is one of the best AI stocks to own today.</p>
<div class="lb-trans"><p>与其用成千上万的字，不如看看下面的三张图表，展示了为什么亚马逊是今天最值得拥有的 AI 股票之一。</p>
</div><h2>1. Data centers</h2>
<div class="lb-trans"><h2>1. 数据中心</h2>
</div><p>AI is a boon for efficiency and has the potential to wildly increase productivity over time. However, the technology brings its own set of challenges. As shown below, managing and processing the vast amount of required data is the largest one:</p>
<div class="lb-trans"><p>人工智能对效率的提升是一个福音，并且有潜力在时间的推移中大幅提高生产力。然而，这项技术也带来了自身的一系列挑战。如下所示，管理和处理所需的大量数据是最大的挑战：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDQ0ODUvc3RhdGlzdGljX2lkMTQxMjc2MV9haS1pbmZyYXN0cnVjdHVyZS1jaGFsbGVuZ2VzLWdsb2JhbGx5LTIwMjMucG5nJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F804485%2Fstatistic_id1412761_ai-infrastructure-challenges-globally-2023.png&amp;op=resize&amp;w=700"/></p>
<p>This is where Amazon comes in. The company is the world's leading provider of cloud data services and intends to stay there. Amazon plans to invest around $100 billion in over 200 data centers worldwide in the next decade. This will ensure that AWS has the capacity to continue as the global leader.</p>
<div class="lb-trans"><p>这就是亚马逊的用武之地。该公司是全球领先的云数据服务提供商，并打算保持这一地位。亚马逊计划在未来十年内在全球投资约 1000 亿美元建设 200 多个数据中心。这将确保 AWS 能够继续作为全球领导者。</p>
</div><p>AWS functions much like a utility, where customers pay for the data they use. This is a tremendous business model in a world where data needs are constantly growing. The segment grew 19% in Q3 2024 to $27.5 billion. Over the trailing 12 months, it also surpassed $100 billion in sales and $36 billion in operating income. With AI demand and expanded capacity, AWS will continue to power profits for a long time to come.</p>
<div class="lb-trans"><p>AWS 的运作方式类似于公用事业，客户为他们使用的数据付费。在一个数据需求不断增长的世界里，这是一种极好的商业模式。该部门在 2024 年第三季度增长了 19%，达到了 275 亿美元。在过去的 12 个月里，它的销售额也超过了 1000 亿美元，运营收入达到了 360 亿美元。随着 AI 需求的增加和产能的扩展，AWS 将继续为利润提供动力。</p>
</div><h2>2. Cash flow</h2>
<div class="lb-trans"><h2>2. 现金流</h2>
</div><p>Amazon was a major beneficiary when the stimulus flowed in 2020 and 2021. People were spending, interest rates were near zero, and Amazon's operating cash flow soared to record highs. Operating cash flow is essentially the amount of money a company's primary business generates, making it a terrific metric to judge success.</p>
<div class="lb-trans"><p>在 2020 年和 2021 年，亚马逊是刺激政策的主要受益者。人们在消费，利率接近零，亚马逊的运营现金流飙升至创纪录的高位。运营现金流本质上是公司主要业务所产生的资金，是评估成功的绝佳指标。</p>
</div><p>In Amazon's case, it is the cash created from product sales, advertising sales, third-party seller services, and AWS. While the stimulus years were excellent, Amazon's recent operating cash flow has ,exploded much, much higher:</p>
<div class="lb-trans"><p>在亚马逊的案例中，它是来自产品销售、广告销售、第三方卖家服务和 AWS 的现金流。虽然刺激政策的年份表现出色，但亚马逊最近的运营现金流却大幅飙升：</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/fcbb1c464047d854acc55eee2a108c9e.png" alt="" original-src="https://media.ycharts.com/charts/fcbb1c464047d854acc55eee2a108c9e.png"/></p>
<p>AMZN Cash from Operations (TTM) data by YCharts</p>
<div class="lb-trans"><p>AMZN 运营现金流（TTM）数据来自 YCharts</p>
</div><p>The $113 billion generated over the past 12 months is by far an all-time high, dwarfing the 2020-2021 boom. Much of this is the result of surging sales in AWS. Due to AI-driven demand, cash flow should continue to reach new heights, allowing Amazon to invest heavily in growth and sustain its lead in the cloud.</p>
<div class="lb-trans"><p>在过去的 12 个月中产生的 1130 亿美元无疑是历史最高，远超 2020-2021 年的繁荣。这在很大程度上是由于 AWS 销售的激增。由于 AI 驱动的需求，现金流应继续达到新高，使亚马逊能够大力投资于增长，并维持其在云计算领域的领先地位。</p>
</div><h2>3. Valuation</h2>
<div class="lb-trans"><h2>3. 估值</h2>
</div><p>The <strong>S&amp;P 500</strong> index hit a new all-time high over 50 times in 2024, and many companies' valuations are very high. However, Amazon's stock price is still reasonable. Based on the abovementioned cash flow and earnings, it trades below five-year historical averages, as shown below.</p>
<div class="lb-trans"><p><strong>标准普尔 500</strong> 指数在 2024 年创下了 50 多次的新高，许多公司的估值非常高。然而，亚马逊的股价仍然合理。根据上述现金流和收益，它的交易价格低于五年的历史平均水平，如下所示。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4a6805305d7bf53beb0b5620f7475e4d.png" alt="" original-src="https://media.ycharts.com/charts/4a6805305d7bf53beb0b5620f7475e4d.png"/></p>
<p>AMZN Price to CFO Per Share (TTM) data by YCharts</p>
<div class="lb-trans"><p>AMZN 每股现金流与股价比率（TTM）数据来自 YCharts</p>
</div><p>Amazon's price-to-earnings ratio drops to just 37 based on next year's estimates, which may still sound high but is quite low historically for the company. Despite the market's rapid rise, Amazon is still a great value for long-term investors.</p>
<div class="lb-trans"><p>根据明年的预估，亚马逊的市盈率降至仅 37，虽然这听起来仍然很高，但对于该公司来说历史上却相对较低。尽管市场迅速上涨，亚马逊仍然是长期投资者的绝佳价值。</p>
</div><p>There are dozens of quality AI stocks to consider, and I recommend owning at least a few. Given the intense demand for data, Amazon's prolific cash-flow generation, and a reasonable valuation, Amazon stock is an excellent choice for long-term investment.</p>
<div class="lb-trans"><p>有数十只优质的 AI 股票值得考虑，我建议至少拥有几只。考虑到对数据的强烈需求、亚马逊丰厚的现金流生成能力以及合理的估值，亚马逊股票是长期投资的优秀选择。</p>
</div>

3 Reasons Amazon Is 1 of the Best Artificial Intelligence (AI) Stocks to Buy Right Now

- 亚马逊的总运营收入中，60% 来自于 AWS。  
- AWS 在 2024 年第三季度增长 19%，销售额达 275 亿美元。  
- 亚马逊的现金流在过去 12 个月达到 1130 亿美元，创历史新高。  

3 个理由说明亚马逊是目前最值得购买的人工智能（AI）股票之一