<p><strong>英伟达</strong>(NVDA -8.69%) 由于其人工智能（AI）芯片的强劲表现，成为迄今为止人工智能热潮中最大的赢家之一。客户纷纷涌向该公司购买这些芯片及相关产品和服务，这帮助其收益飙升至两位数和三位数。因此，英伟达的股票大幅上涨，在过去五年中上涨了 1,700%。</p>
<p>亿万富翁斯坦利·德鲁肯米勒作为英伟达的投资者，从这一表现中获益良多——直到他在去年第三季度平仓。该顶级投资者后来表示遗憾，甚至在一次彭博社采访中表示，他会考虑在合适的价格再次购买该股票。因此，德鲁肯米勒显然仍然相信该股票的长期增长故事。</p>
<p>在去年的第四季度，他采取了两项举措，可能让他以另一种方式押注于英伟达。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDk2NTMvZ2V0dHktaGFwcHktY29sbGVhZ3Vlcy5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDk2NTMvZ2V0dHktaGFwcHktY29sbGVhZ3Vlcy5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>德鲁肯米勒的业绩记录</h2>
<p>作为杜克斯资本管理公司的负责人，德鲁肯米勒在 30 年的时间里实现了年均 30% 的回报，没有任何亏损年份——直到德鲁肯米勒关闭该基金，这显示了他长期成功的记录。现在，这位亿万富翁通过杜克斯家族办公室管理着 37 亿美元，尽管他在各个行业进行投资，但近年来科技股的比重最大。德鲁肯米勒最初在 2016 年第二季度购买了英伟达的股票，到 2023 年底，该股票成为他第三大持仓。在此期间，该股票上涨了超过 4,100%。</p>
<p>德鲁肯米勒告诉彭博社，他出售英伟达的原因是他认为 “估值过高”。但他接着表示，这一举动是一个 “错误”，并对这家芯片制造商的未来表示信心，甚至表示他会考虑在合理估值下再次购买。</p>
<p>因此，显然这位亿万富翁相信英伟达能够继续在分析师预测将从今天的 2000 亿美元增长到十年末超过 1 万亿美元的人工智能市场中取得胜利。德鲁肯米勒尚未宣布任何新的英伟达购买，但他在去年第四季度的举动显示，他正在投资两家可能与英伟达齐头并进的公司。这两家公司都是英伟达的客户：<strong>亚马逊</strong>(AMZN -3.42%) 和 <strong>谷歌</strong>(GOOG -2.07%)(GOOGL -1.92%)。</p>
<h2>在亚马逊和谷歌的新头寸</h2>
<p>德鲁肯米勒在该季度开设了这两家公司的新头寸。他购买了 328,400 股亚马逊股票，现在占其投资组合的 1.9%，并购买了 76,680 股谷歌股票，占投资组合的约 0.4%。</p>
<p>亚马逊和谷歌通过其云业务提供英伟达的图形处理单元（GPU）——用于支持关键 AI 任务（如训练和推理）的芯片——以及各种英伟达产品和服务。目前正处于一个特别高增长的时刻，因为这些公司正在其云服务中推出英伟达最新的 Blackwell 架构。</p>
<p>英伟达在其最近的财报电话会议中表示，主要的云服务提供商约占公司数据中心收入的一半。这些公司纷纷涌向英伟达，以便更好地服务于那些寻找顶级云 AI 平台的客户。所有这些意味着，英伟达的成功也可能是亚马逊和谷歌的成功。</p>
<h2>由于 AI 而强劲增长</h2>
<p>这两家云服务公司由于在 AI 方面的投资而报告了强劲的增长。去年，亚马逊网络服务（AWS）——该公司的云业务——由于其强大的 AI 产品和服务，达到了 1150 亿美元的年收入运行率。而谷歌云的收入在最新季度增长了 30%，主要得益于 AI 基础设施和生成性 AI 解决方案。</p>
<p>所有这些意味着，即使德鲁肯米勒今天不持有英伟达的股票，他仍然可能通过投资英伟达的客户而受益于这家芯片设计公司的成功。你是否应该跟随这位亿万富翁投资这些顶级云股票？</p>
<p>如果你有兴趣押注于 AI 增长故事，那么答案是肯定的。亚马逊和谷歌都是今天值得购买和持有的优秀股票，因为它们在盈利增长方面有着良好的长期记录，已经开始结出成果的 AI 投资，以及它们在这一 AI 故事进入下一个章节时的良好定位。</p>

英伟达财报，一站看懂！

谷歌-C

亚马逊

英伟达

<p>亿万富翁投资者斯坦利·德鲁肯米勒（Stanley Druckenmiller）曾出售其英伟达（Nvidia）股票，但可能通过投资其客户亚马逊（Amazon）和谷歌-C（Alphabet）间接押注于该公司。尽管因高估值出售了英伟达，他仍对其长期增长潜力表示遗憾和信心。在第四季度，德鲁肯米勒购买了亚马逊和谷歌-C 的股票，这两家公司都受益于英伟达的人工智能技术。这些投资与预计的人工智能市场增长相一致，使得亚马逊和谷歌-C 成为希望利用人工智能进步的投资者的有吸引力的选择</p>

<p><strong>Nvidia</strong>(NVDA -8.69%) has been one of the biggest winners of the artificial intelligence (AI) boom so far thanks to the strength of its AI chips. Customers have flocked to the company for them and related products and services, and this has helped earnings soar in the double and triple digits. As a result, Nvidia stock has roared higher, gaining 1,700% over the past five years.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA -8.69%) 由于其人工智能（AI）芯片的强劲表现，成为迄今为止人工智能热潮中最大的赢家之一。客户纷纷涌向该公司购买这些芯片及相关产品和服务，这帮助其收益飙升至两位数和三位数。因此，英伟达的股票大幅上涨，在过去五年中上涨了 1,700%。</p>
</div><p>Billionaire Stanley Druckenmiller, as an investor in Nvidia, benefited from a great deal of this performance -- until he closed out his position in the third quarter of last year. The top investor later expressed regret, even saying during a Bloomberg interview that he would consider buying the stock again at the right price. So, it's clear Druckenmiller still believes in the stock's long-term growth story.</p>
<div class="lb-trans"><p>亿万富翁斯坦利·德鲁肯米勒作为英伟达的投资者，从这一表现中获益良多——直到他在去年第三季度平仓。该顶级投资者后来表示遗憾，甚至在一次彭博社采访中表示，他会考虑在合适的价格再次购买该股票。因此，德鲁肯米勒显然仍然相信该股票的长期增长故事。</p>
</div><p>And in the fourth quarter of last year, he made two moves that may allow him to bet on Nvidia in another way.</p>
<div class="lb-trans"><p>在去年的第四季度，他采取了两项举措，可能让他以另一种方式押注于英伟达。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDk2NTMvZ2V0dHktaGFwcHktY29sbGVhZ3Vlcy5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F809653%2Fgetty-happy-colleagues.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>Druckenmiller's track record</h2>
<div class="lb-trans"><h2>德鲁肯米勒的业绩记录</h2>
</div><p>As head of Duquesne Capital Management, Druckenmiller posted an annual average return of 30% without any money-losing years -- this, over a period of 30 years until Druckenmiller closed the fund, shows a long track record of success. The billionaire now oversees $3.7 billion through the Duquesne Family Office, and though he invests across industries, tech stocks have been the most heavily weighted in recent years. Druckenmiller originally bought Nvidia shares in the second quarter of 2016, and the stock represented his third-largest holding at the end of 2023. Over that time period, the stock advanced more than 4,100%</p>
<div class="lb-trans"><p>作为杜克斯资本管理公司的负责人，德鲁肯米勒在 30 年的时间里实现了年均 30% 的回报，没有任何亏损年份——直到德鲁肯米勒关闭该基金，这显示了他长期成功的记录。现在，这位亿万富翁通过杜克斯家族办公室管理着 37 亿美元，尽管他在各个行业进行投资，但近年来科技股的比重最大。德鲁肯米勒最初在 2016 年第二季度购买了英伟达的股票，到 2023 年底，该股票成为他第三大持仓。在此期间，该股票上涨了超过 4,100%。</p>
</div><p>Druckenmiller told Bloomberg his reason for selling Nvidia was that he thought &#34;the valuation was rich.&#34; But he went on to say the move was a &#34;mistake&#34; and he expressed confidence about the chip maker's future and said he would even consider buying it again at a reasonable valuation.</p>
<div class="lb-trans"><p>德鲁肯米勒告诉彭博社，他出售英伟达的原因是他认为 “估值过高”。但他接着表示，这一举动是一个 “错误”，并对这家芯片制造商的未来表示信心，甚至表示他会考虑在合理估值下再次购买。</p>
</div><p>So, it's clear the billionaire believes in the ability of Nvidia to continue scoring a win in the AI market that analysts predict will grow from $200 billion today to more than $1 trillion by the end of the decade. Druckenmiller hasn't announced any new Nvidia buys yet, but a look at his moves in the fourth quarter of last year show he's investing in two companies that could excel in lockstep with Nvidia. And these are two Nvidia customers: <strong>Amazon</strong>(AMZN -3.42%) and <strong>Alphabet</strong>(GOOG -2.07%)(GOOGL -1.92%).</p>
<div class="lb-trans"><p>因此，显然这位亿万富翁相信英伟达能够继续在分析师预测将从今天的 2000 亿美元增长到十年末超过 1 万亿美元的人工智能市场中取得胜利。德鲁肯米勒尚未宣布任何新的英伟达购买，但他在去年第四季度的举动显示，他正在投资两家可能与英伟达齐头并进的公司。这两家公司都是英伟达的客户：<strong>亚马逊</strong>(AMZN -3.42%) 和 <strong>谷歌</strong>(GOOG -2.07%)(GOOGL -1.92%)。</p>
</div><h2>New positions in Amazon and Alphabet</h2>
<div class="lb-trans"><h2>在亚马逊和谷歌的新头寸</h2>
</div><p>Druckenmiller opened new positions in both of these companies in the quarter. He bought 328,400 shares of Amazon, which now represent 1.9% of his portfolio, and purchased 76,680 shares of Alphabet, representing about 0.4% in the portfolio.</p>
<div class="lb-trans"><p>德鲁肯米勒在该季度开设了这两家公司的新头寸。他购买了 328,400 股亚马逊股票，现在占其投资组合的 1.9%，并购买了 76,680 股谷歌股票，占投资组合的约 0.4%。</p>
</div><p>Amazon and Alphabet, through their cloud businesses, offer Nvidia graphics processing units (GPUs) -- chips to power key AI tasks like training and inferencing -- as well as a wide variety of Nvidia products and services. And right now represents a particularly high-growth moment because these companies are rolling out Nvidia's latest Blackwell architecture across their clouds.</p>
<div class="lb-trans"><p>亚马逊和谷歌通过其云业务提供英伟达的图形处理单元（GPU）——用于支持关键 AI 任务（如训练和推理）的芯片——以及各种英伟达产品和服务。目前正处于一个特别高增长的时刻，因为这些公司正在其云服务中推出英伟达最新的 Blackwell 架构。</p>
</div><p>Nvidia said in its most recent earnings call that the major cloud service providers represent about half of the company's data center revenue. These companies are flocking to Nvidia so that they can better serve their own customers that are looking for top AI platforms on the cloud. All of this means that Nvidia's successes also may be Amazon's and Alphabet's successes.</p>
<div class="lb-trans"><p>英伟达在其最近的财报电话会议中表示，主要的云服务提供商约占公司数据中心收入的一半。这些公司纷纷涌向英伟达，以便更好地服务于那些寻找顶级云 AI 平台的客户。所有这些意味着，英伟达的成功也可能是亚马逊和谷歌的成功。</p>
</div><h2>Strong growth thanks to AI</h2>
<div class="lb-trans"><h2>由于 AI 而强劲增长</h2>
</div><p>Both of these cloud players have been reporting strong growth thanks to their investments in AI. Last year, Amazon Web Services (AWS) -- the company's cloud business -- reached a $115 billion annual revenue run rate due to its strong offering of AI products and services. And Alphabet's Google Cloud revenue jumped 30% in the latest quarter, led by AI infrastructure and generative AI solutions.</p>
<div class="lb-trans"><p>这两家云服务公司由于在 AI 方面的投资而报告了强劲的增长。去年，亚马逊网络服务（AWS）——该公司的云业务——由于其强大的 AI 产品和服务，达到了 1150 亿美元的年收入运行率。而谷歌云的收入在最新季度增长了 30%，主要得益于 AI 基础设施和生成性 AI 解决方案。</p>
</div><p>All of this means, even if Druckenmiller doesn't own Nvidia shares today, he still may benefit from the chip designer's success through his investment in Nvidia customers. Should you follow the billionaire into these top cloud stocks?</p>
<div class="lb-trans"><p>所有这些意味着，即使德鲁肯米勒今天不持有英伟达的股票，他仍然可能通过投资英伟达的客户而受益于这家芯片设计公司的成功。你是否应该跟随这位亿万富翁投资这些顶级云股票？</p>
</div><p>If you're interested in betting on the AI growth story, yes. Amazon and Alphabet both make great stocks to buy and hold today due to their long track record of earnings growth, their AI investments that already are bearing fruit, and the fact that they both are well positioned to roar higher as this AI story enters its next chapters.</p>
<div class="lb-trans"><p>如果你有兴趣押注于 AI 增长故事，那么答案是肯定的。亚马逊和谷歌都是今天值得购买和持有的优秀股票，因为它们在盈利增长方面有着良好的长期记录，已经开始结出成果的 AI 投资，以及它们在这一 AI 故事进入下一个章节时的良好定位。</p>
</div>

Billionaire Stanley Druckenmiller -- Who Sold His Nvidia Stock Last Year -- May Be Betting on Nvidia in Another Way

- Nvidia 受益于 AI 热潮，股价五年上涨 1,700%。  
- 投资者 Stanley Druckenmiller 曾持有 Nvidia 股票，现投资于其客户 Amazon 和 Alphabet。  
- 这两家公司通过云服务推动 Nvidia 产品的强劲增长。  

亿万富翁斯坦利·德鲁肯米勒——去年卖掉了他的英伟达股票——可能正在以另一种方式押注英伟达