<p>人工智能（AI）在过去几年中为股市带来了巨大的推动。全球各地的公司和政府由于其颠覆性特征，正在迅速采用这项技术，尤其是考虑到它预计在长期内将带来显著的生产力提升。</p>
<p>市场研究公司 IDC 预测，到 2030 年，每花费 1 美元在 AI 上，可能为全球经济创造 4.60 美元的价值。因此，未来五年内，AI 硬件和软件的强劲需求将不会令人惊讶。<strong>Nvidia</strong> 一直是 AI 领域的先驱之一，因为该公司的强大芯片使客户能够训练和部署大型语言模型（LLMs）和应用程序。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>Nvidia 的股票在 5 月可能会迎来一波上涨...</h2>
<p>这家芯片制造商是最大的 AI 芯片公司，预计在 2025 财年收入将达到 1305 亿美元，增长了惊人的 114%。重要的是，Nvidia 有能力在未来很长一段时间内维持其令人印象深刻的增长势头，这得益于巨大的可寻址市场。然而，由于对其芯片出口到中国的限制、AI 芯片市场竞争加剧、AI 基础设施支出可能下降以及关税引发的贸易战的影响，今年该股票一直承压。</p>
<p>好的一面是，投资者现在可以以有吸引力的估值购买这一潜在的长期赢家，尤其是考虑到它可能在 5 月发布即将到来的业绩后恢复活力。然而，还有另一家 AI 芯片公司看起来比 Nvidia 更值得购买。</p>
<p>让我们更仔细地看看这个名字。</p>
<h2>...但这家高增长公司值得大量购买</h2>
<p><strong>Marvell Technology</strong>（MRVL -8.08%）设计应用特定集成电路（ASIC）和网络芯片，这些芯片用于数据中心、企业网络、电信网络以及汽车、工业和消费应用。该公司的数据中心业务现在是其最大的收入来源。</p>
<p>在 2025 财年第四季度（截至 2 月 1 日），Marvell 的 75% 收入来自数据中心芯片的销售。由于强劲的 AI 驱动需求，该部门的收入同比增长了惊人的 78%。Marvell 指出，其在财年中的 AI 收入远高于最初设定的 15 亿美元目标，并预计将在 2026 财年 “显著超过” 25 亿美元的收入目标。</p>
<p>Marvell 的 AI 收入的这一巨大增长将推动公司收入和盈利的卓越增长。共识预测预计该公司在当前财年的收入将增长 42%，达到 82 亿美元。这将比上一财年的 5% 收入增长有显著改善。更好的是，分析师预计 Marvell 的健康收入增长将在未来几个财年继续。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="380" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png"/></p>
<p>MRVL 当前财年收入预测数据来自 YCharts。</p>
<p>这也将转化为出色的底线增长。预计 Marvell 的每股收益将在当前财年增长 78%，达到 2.80 美元，随后在未来几年继续健康增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="380" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png"/></p>
<p>MRVL 当前财年每股收益预测数据来自 YCharts。</p>
<p>很容易看出，分析师为何对这家公司期待如此令人印象深刻的增长。毕竟，定制 AI 处理器和芯片的需求正在增加，因为与通用计算芯片（如图形处理单元 GPU）相比，它们在执行特定任务时更高效。因此，定制 AI 处理器可以帮助降低运营成本，这就是为什么像 <strong>亚马逊</strong> 等公司一直在与 Marvell 合作开发这些芯片。</p>
<p>Marvell 指出，目前它有两个高容量客户使用其定制 AI 芯片。预计未来将从这些客户那里获得更多业务，因为他们可能会采用 Marvell 下一代定制 AI 处理器。Marvell 还引入了第三个客户，预计将在明年开始向其发货 AI 芯片。</p>
<p>展望未来，Marvell 有很大机会吸引更多定制 AI 芯片的客户。这是因为该公司在产品开发方面不断突破，已经开发出用于制造定制 AI 芯片和网络组件的 2 纳米（nm）工艺节点。Marvell 目前提供基于 3nm 平台的芯片，转向更小的 2nm 工艺理想情况下应能实现 15% 的性能提升和 30% 的功耗降低。</p>
<p>这一新工艺节点将使 Marvell 在快速增长的定制 AI 芯片市场中处于有利地位，该市场预计到 2028 年将以 45% 的年增长率增长至 430 亿美元。此外，该公司预计借助其下一代芯片将占据这一快速增长细分市场的更大份额。具体而言，Marvell 管理层认为，该公司在数据中心芯片市场的份额可能从 2023 年的 10% 翻倍至 2028 年的 20%。</p>
<p>因此，不要惊讶于看到 Marvell 在未来几个财年保持健康的增长速度。它的前瞻性市盈率不到 23 倍，而 Nvidia 的前瞻性市盈率为 26 倍。因此，考虑到预计将带来的巨大盈利增长，投资者现在可以以非常有吸引力的水平购买 Marvell。他们可能不想错过这个机会，因为 Marvell 的长期前景表明，它可能在很长一段时间内提供稳健的股价上涨。</p>

迈威尔科技

<p>这篇文章讨论了人工智能（AI）在股市中日益重要的地位，强调了迈威尔科技（Marvell Technology）作为 5 月份值得购买的顶级 AI 股票，超越了英伟达（Nvidia）。迈威尔的数据中心芯片收入同比激增 78%，这得益于强劲的 AI 需求，预计未来几年将实现显著增长。分析师预测，迈威尔在当前财政年度的收入将增长 42%，每股收益将跃升 78%。该公司还通过新的 2 纳米芯片工艺推进其技术，提升了性能和效率</p>

<p>Artificial intelligence (AI) has given the stock market a big boost in the past couple of years. Companies and governments around the globe have been rapidly adopting this technology thanks to its disruptive nature, especially considering the significant productivity gains that it is projected to deliver in the long run.</p>
<div class="lb-trans"><p>人工智能（AI）在过去几年中为股市带来了巨大的推动。全球各地的公司和政府由于其颠覆性特征，正在迅速采用这项技术，尤其是考虑到它预计在长期内将带来显著的生产力提升。</p>
</div><p>Market research firm IDC predicts that each dollar spent on AI could generate $4.60 worth of value for the global economy in 2030. As a result, it won't be surprising to see the strong demand for AI hardware and software continue over the next five years. <strong>Nvidia</strong> has been one of the pioneers in the field of AI, as the company's powerful chips have allowed customers to train and deploy large language models (LLMs) and applications.</p>
<div class="lb-trans"><p>市场研究公司 IDC 预测，到 2030 年，每花费 1 美元在 AI 上，可能为全球经济创造 4.60 美元的价值。因此，未来五年内，AI 硬件和软件的强劲需求将不会令人惊讶。<strong>Nvidia</strong> 一直是 AI 领域的先驱之一，因为该公司的强大芯片使客户能够训练和部署大型语言模型（LLMs）和应用程序。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817142%2Fartificial-intelligence-central-processing-unit.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>Nvidia stock could get a nice shot in the arm in May...</h2>
<div class="lb-trans"><h2>Nvidia 的股票在 5 月可能会迎来一波上涨...</h2>
</div><p>The chipmaker is the biggest AI chip company out there, witnessing a whopping 114% increase in revenue in fiscal 2025 to $130.5 billion. Importantly, Nvidia has the ability to sustain its impressive growth momentum for a long time to come, thanks to a massive addressable market. However, the stock has been under pressure this year, thanks to restrictions on exports of its chips to China, the rising competition in the AI chip market, a potential drop in AI infrastructure spending, and the fallout of the tariff-fueled trade war.</p>
<div class="lb-trans"><p>这家芯片制造商是最大的 AI 芯片公司，预计在 2025 财年收入将达到 1305 亿美元，增长了惊人的 114%。重要的是，Nvidia 有能力在未来很长一段时间内维持其令人印象深刻的增长势头，这得益于巨大的可寻址市场。然而，由于对其芯片出口到中国的限制、AI 芯片市场竞争加剧、AI 基础设施支出可能下降以及关税引发的贸易战的影响，今年该股票一直承压。</p>
</div><p>The good part is that investors can buy this potential long-term winner at an attractive valuation right now, especially considering that it could regain its mojo in May following the release of its upcoming results. However, there is another AI chip company that looks like a better buy than Nvidia.</p>
<div class="lb-trans"><p>好的一面是，投资者现在可以以有吸引力的估值购买这一潜在的长期赢家，尤其是考虑到它可能在 5 月发布即将到来的业绩后恢复活力。然而，还有另一家 AI 芯片公司看起来比 Nvidia 更值得购买。</p>
</div><p>Let's take a closer look at that name.</p>
<div class="lb-trans"><p>让我们更仔细地看看这个名字。</p>
</div><h2>...but this high-growth company is worth buying hand over fist</h2>
<div class="lb-trans"><h2>...但这家高增长公司值得大量购买</h2>
</div><p><strong>Marvell Technology</strong>(MRVL -8.08%) designs application-specific integrated circuits (ASICs) and networking chips that are used in data centers, enterprise networking, telecom networks, and automotive, industrial, and consumer applications. The company's data center business is now its biggest source of revenue.</p>
<div class="lb-trans"><p><strong>Marvell Technology</strong>（MRVL -8.08%）设计应用特定集成电路（ASIC）和网络芯片，这些芯片用于数据中心、企业网络、电信网络以及汽车、工业和消费应用。该公司的数据中心业务现在是其最大的收入来源。</p>
</div><p>Marvell got 75% of its top line from sales of data center chips in the fourth quarter of fiscal 2025 (which ended on Feb. 1). The segment's revenue shot up a remarkable 78% year over year on the back of strong AI-fueled demand. Marvell points out that its AI revenue during the fiscal year was well above its original target of $1.5 billion, and it expects to &#34;significantly exceed&#34; its $2.5 billion revenue target for fiscal 2026.</p>
<div class="lb-trans"><p>在 2025 财年第四季度（截至 2 月 1 日），Marvell 的 75% 收入来自数据中心芯片的销售。由于强劲的 AI 驱动需求，该部门的收入同比增长了惊人的 78%。Marvell 指出，其在财年中的 AI 收入远高于最初设定的 15 亿美元目标，并预计将在 2026 财年 “显著超过” 25 亿美元的收入目标。</p>
</div><p>This massive spurt in Marvell's AI revenue is set to drive outstanding growth in the company's revenue and earnings. Consensus estimates are projecting a 42% spike in the company's revenue in the current fiscal year, to $8.2 billion. That would be a major improvement over the 5% revenue growth it clocked in the previous fiscal year. Even better, analysts are expecting Marvell's healthy revenue growth to continue over the next couple of fiscal years as well.</p>
<div class="lb-trans"><p>Marvell 的 AI 收入的这一巨大增长将推动公司收入和盈利的卓越增长。共识预测预计该公司在当前财年的收入将增长 42%，达到 82 亿美元。这将比上一财年的 5% 收入增长有显著改善。更好的是，分析师预计 Marvell 的健康收入增长将在未来几个财年继续。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png" alt="" original-src="https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png"/></p>
<p>MRVL Revenue Estimates for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MRVL 当前财年收入预测数据来自 YCharts。</p>
</div><p>This is set to translate into terrific bottom-line growth as well. Marvell's earnings are forecasted to jump by 78% in the current fiscal year to $2.80 per share, followed by healthy growth over the next couple of years.</p>
<div class="lb-trans"><p>这也将转化为出色的底线增长。预计 Marvell 的每股收益将在当前财年增长 78%，达到 2.80 美元，随后在未来几年继续健康增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png" alt="" original-src="https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png"/></p>
<p>MRVL EPS Estimates for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MRVL 当前财年每股收益预测数据来自 YCharts。</p>
</div><p>It's easy to see why analysts are expecting such impressive growth from this company. After all, the demand for custom AI processors and chips has been increasing, as they're more efficient in carrying out the specific tasks they're designed for when compared to general-purpose computing chips such as graphics processing units (GPUs). As a result, custom AI processors can help lower operating costs, which is why the likes of <strong>Amazon</strong> and others have been developing these chips with Marvell's help.</p>
<div class="lb-trans"><p>很容易看出，分析师为何对这家公司期待如此令人印象深刻的增长。毕竟，定制 AI 处理器和芯片的需求正在增加，因为与通用计算芯片（如图形处理单元 GPU）相比，它们在执行特定任务时更高效。因此，定制 AI 处理器可以帮助降低运营成本，这就是为什么像 <strong>亚马逊</strong> 等公司一直在与 Marvell 合作开发这些芯片。</p>
</div><p>Marvell points out that it currently has two high-volume customers for its custom AI chips. It expects to gain more business from these customers in the future, as they are likely to adopt the next generation of Marvell's custom AI processors. Marvell has brought onboard a third customer as well, to whom it will start shipping its AI chips next year.</p>
<div class="lb-trans"><p>Marvell 指出，目前它有两个高容量客户使用其定制 AI 芯片。预计未来将从这些客户那里获得更多业务，因为他们可能会采用 Marvell 下一代定制 AI 处理器。Marvell 还引入了第三个客户，预计将在明年开始向其发货 AI 芯片。</p>
</div><p>Looking ahead, there's a good chance that Marvell could attract even more customers for custom AI chips. That's because the company is pushing the envelope on the product development front and has developed a 2-nanometer (nm) node for manufacturing custom AI chips and networking components. Marvell currently offers chips based on a 3nm platform, and the move to the smaller 2nm process should ideally result in 15% performance gains and 30% lower power consumption.</p>
<div class="lb-trans"><p>展望未来，Marvell 有很大机会吸引更多定制 AI 芯片的客户。这是因为该公司在产品开发方面不断突破，已经开发出用于制造定制 AI 芯片和网络组件的 2 纳米（nm）工艺节点。Marvell 目前提供基于 3nm 平台的芯片，转向更小的 2nm 工艺理想情况下应能实现 15% 的性能提升和 30% 的功耗降低。</p>
</div><p>This new process node should put Marvell in a solid position to make the most of the fast-growing custom AI chip market, which it projects is on track to grow at a 45% annual rate through 2028 to $43 billion. Moreover, the company expects to corner a bigger share of this fast-growing niche with the help of its next-generation chips. Specifically, Marvell management believes that the company's share of the data center chip market could double to 20% in 2028 from 10% in 2023.</p>
<div class="lb-trans"><p>这一新工艺节点将使 Marvell 在快速增长的定制 AI 芯片市场中处于有利地位，该市场预计到 2028 年将以 45% 的年增长率增长至 430 亿美元。此外，该公司预计借助其下一代芯片将占据这一快速增长细分市场的更大份额。具体而言，Marvell 管理层认为，该公司在数据中心芯片市场的份额可能从 2023 年的 10% 翻倍至 2028 年的 20%。</p>
</div><p>So, don't be surprised to see Marvell maintaining a healthy pace of growth beyond the next couple of fiscal years. It's trading at less than 23 times forward earnings, compared to Nvidia's forward earnings multiple of 26. So investors can buy Marvell at very attractive levels right now, considering the big earnings jump it's expected to deliver. They may not want to pass up such an opportunity this month, as Marvell's long-term outlook indicates that it could deliver solid stock price upside for a long time to come.</p>
<div class="lb-trans"><p>因此，不要惊讶于看到 Marvell 在未来几个财年保持健康的增长速度。它的前瞻性市盈率不到 23 倍，而 Nvidia 的前瞻性市盈率为 26 倍。因此，考虑到预计将带来的巨大盈利增长，投资者现在可以以非常有吸引力的水平购买 Marvell。他们可能不想错过这个机会，因为 Marvell 的长期前景表明，它可能在很长一段时间内提供稳健的股价上涨。</p>
</div>

Here Is My Top Artificial Intelligence (AI) Stock to Buy in May (Hint: It's Not Nvidia)

- 人工智能推动股市增长，预计 2030 年每美元投资可创造 4.60 美元价值。  
- Nvidia 和 Marvell 在 AI 芯片市场表现突出，Marvell 预计 2026 年收入将显著超出目标。  
- Marvell 的定制 AI 芯片需求上升，预计未来几年将持续增长。  

这是我在五月份推荐购买的顶级人工智能（AI）股票（提示：不是英伟达）