<p>近年来，人工智能（AI）股票随着 AI 热潮的加速而大幅上涨——投资者热切涌入这些公司，希望 AI 能成为下一个颠覆性技术，就像互联网一样，或者更早一些，像蒸汽机。这是非常可能的，因为 AI 能够帮助公司提高效率、解决问题，甚至更快地开发更好的产品。</p>
<p>这一投资主题不仅吸引了小型散户投资者，也吸引了亿万富翁。事实上，许多人早早就投资了一些顶尖公司，并已经锁定了利润。一个很好的例子是斯坦利·德鲁肯米勒（Stanley Druckenmiller），他在杜克斯资本（Duquesne Capital）掌舵 30 年，平均年收益率达到 30%，从未出现过亏损年。因此，德鲁肯米勒证明了他在长期内选择赢家股票的能力。</p>
<p>去年，作为杜克斯家族办公室的负责人，这位亿万富翁做出了一个令人震惊的决定，出售了他所有的 AI 芯片领导者 <strong>英伟达</strong>（Nvidia）的股份，尽管该股票正在飙升。他最初是在 2022 年第四季度购买该股票，因此在这项投资上获得了胜利，但在德鲁肯米勒出售时，显然英伟达仍然有着光明的盈利增长前景。即使德鲁肯米勒对自己的决定也表示了一些失望，他说英伟达的股票变得昂贵，但他相信公司的潜力，并会考虑再次购买该股票。</p>
<p>现在，在今年第一季度，德鲁肯米勒又做出了一个大胆的决定——这次是关于一只在过去三年中上涨了 1500% 的超越市场的 AI 股票。让我们更仔细地看看这位亿万富翁的最新押注。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2ODEvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2ODEvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>自德鲁肯米勒出售以来英伟达的表现</h2>
<p>首先，简要说明一下自德鲁肯米勒出售英伟达股票以来发生的情况。这位亿万富翁如果多持有一个季度，可能会获得更多收益——他在第三季度出售了英伟达，而该股票在第四季度又上涨了 14%。但如果他持有到今年第一季度，他将经历英伟达从年初到上个月最低点的 29% 的损失。</p>
<p>所有这些都表明，市场时机的把握几乎是不可能的，买入绝对的最低点和卖出最高点几乎不可能——但如果你持有几年，就不必这样做。长期投资给我们提供了充足的时间来获得非常满意的收益。</p>
<p>现在，让我们考虑德鲁肯米勒的最新举动。在今年第一季度，这位亿万富翁出售了他所有的 <strong>Palantir Technologies</strong>（PLTR）的股份，这是一家在政府和商业客户需求中实现爆炸性收入增长的软件公司。Palantir 为他们提供 AI 驱动的软件，以汇总数据并更好地利用这些数据——这项技术产生了颠覆性的结果，使公司的势头得以持续。</p>
<h2>一只昂贵的股票</h2>
<p>事实上，即使分析师警告 Palantir 的股票变得过于昂贵，交易价格高达惊人的 222 倍未来收益预期，该股票仍然持续上涨。</p>
<p>德鲁肯米勒最初是在去年第一季度购买 Palantir 的股票，因此他持有了大约一年。去年，该股票上涨了 340%，然后继续上涨，从今年年初到今天上涨了超过 70%。在英伟达投资获利后，德鲁肯米勒在 Palantir 上也获得了成功。</p>
<p>在这两种情况下，德鲁肯米勒通过仅持有一到两年就实现了这一目标，因为领先的 AI 股票迅速带来了收益——在特定时期内，这种情况时有发生。</p>
<h2>你应该跟随德鲁肯米勒的举动吗？</h2>
<p>现在，问题是，你应该跟随德鲁肯米勒，出售像英伟达和 Palantir 这样的股票并继续前进吗？答案取决于你的投资策略。重要的是要记住，德鲁肯米勒是一位专业人士，他有时间和资源迅速进出头寸——并在相对较短的时间内获利。当德鲁肯米勒关闭一个头寸时，并不一定意味着他不再相信长期故事——正如他去年对英伟达所说的那样。这位亿万富翁可能只是将资金分配到他认为在未来几个月内能够更快获利的其他公司。</p>
<p>但较小的非专业投资者可能会发现，通过持续投资于特定公司——例如英伟达或 Palantir——是的，他们可能会经历一两个低迷期，但在未来的几年中，他们可能会获得额外的收益。因此，只要公司的长期增长前景依然吸引人，通常值得持有几年。今天，英伟达和 Palantir 都因其强大的技术、稳固的市场地位以及对本十年 AI 增长的普遍预测而展现出光明的前景——这意味着持有这些公司几年也是一个很好的选择。</p>

英伟达

PLTR

<p>亿万富翁斯坦利·德鲁肯米勒去年出售了他所有的英伟达股票，并最近从 Palantir Technologies 撤资，该公司在三年内增长了 1500%。尽管他在这两只股票上都获得了成功的投资回报，但德鲁肯米勒的举动引发了关于散户投资者是否应该效仿的质疑。虽然他从这两只股票中获利，但他的策略可能与小型投资者的长期投资原则不一致。分析师警告称，Palantir 的股票目前价格昂贵，交易价格为前瞻性收益预期的 222 倍，但其股价仍在上涨</p>

<p>Artificial intelligence (AI) stocks have surged in recent years as the AI boom picked up speed -- investors eagerly piled into these players with the hope that AI would become the next game-changing technology, much like the Internet, or moving much farther back in history, the steam engine. This is very possible, considering AI's ability to help companies gain in efficiency, problem solve, and even develop better products faster.</p>
<div class="lb-trans"><p>近年来，人工智能（AI）股票随着 AI 热潮的加速而大幅上涨——投资者热切涌入这些公司，希望 AI 能成为下一个颠覆性技术，就像互联网一样，或者更早一些，像蒸汽机。这是非常可能的，因为 AI 能够帮助公司提高效率、解决问题，甚至更快地开发更好的产品。</p>
</div><p>This investing theme hasn't only appealed to small retail investors but also to billionaires. In fact, many got in on some of the top players early and have already locked in profit. A great example is Stanley Druckenmiller, who for 30 years at the helm of Duquesne Capital delivered an average annual gain of 30% and never had a money-losing year. So Druckenmiller has proved his ability to choose winning stocks over time.</p>
<div class="lb-trans"><p>这一投资主题不仅吸引了小型散户投资者，也吸引了亿万富翁。事实上，许多人早早就投资了一些顶尖公司，并已经锁定了利润。一个很好的例子是斯坦利·德鲁肯米勒（Stanley Druckenmiller），他在杜克斯资本（Duquesne Capital）掌舵 30 年，平均年收益率达到 30%，从未出现过亏损年。因此，德鲁肯米勒证明了他在长期内选择赢家股票的能力。</p>
</div><p>Last year, now at the head of the Duquesne Family office, the billionaire made a shocking move, selling all of his shares of AI chip leader <strong>Nvidia</strong>(NVDA 0.28%) as the stock soared. He originally bought the stock in the fourth quarter of 2022, so he scored a win on the investment, but at the time of Druckenmiller's sale, it was clear Nvidia still had a bright earnings growth story ahead. Even Druckenmiller expressed some disappointment at his own move, saying Nvidia stock had gotten expensive, but he believes in the company's potential and would consider buying the stock again.</p>
<div class="lb-trans"><p>去年，作为杜克斯家族办公室的负责人，这位亿万富翁做出了一个令人震惊的决定，出售了他所有的 AI 芯片领导者 <strong>英伟达</strong>（Nvidia）的股份，尽管该股票正在飙升。他最初是在 2022 年第四季度购买该股票，因此在这项投资上获得了胜利，但在德鲁肯米勒出售时，显然英伟达仍然有着光明的盈利增长前景。即使德鲁肯米勒对自己的决定也表示了一些失望，他说英伟达的股票变得昂贵，但他相信公司的潜力，并会考虑再次购买该股票。</p>
</div><p>Now, in the first quarter of this year, Druckenmiller has made another bold move -- this time concerning a market-beating AI stock that's soared 1,500% over the past three years. Let's take a closer look at this latest billionaire bet.</p>
<div class="lb-trans"><p>现在，在今年第一季度，德鲁肯米勒又做出了一个大胆的决定——这次是关于一只在过去三年中上涨了 1500% 的超越市场的 AI 股票。让我们更仔细地看看这位亿万富翁的最新押注。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg2ODEvZ2V0dHlpbWFnZXMtNjEzMzQ1NTU2LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F818681%2Fgettyimages-613345556.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's performance since Druckenmiller sold it</h2>
<div class="lb-trans"><h2>自德鲁肯米勒出售以来英伟达的表现</h2>
</div><p>First, a quick note about what's happened with Nvidia stock since Druckenmiller sold it. The billionaire could have gained a bit more if he held on an extra quarter -- he sold Nvidia in the third quarter, and it went on to climb another 14% in the fourth quarter. But if he'd held on to it through the first quarter of this year, he would have accompanied Nvidia through its 29% loss from the start of the year through its lowest point last month.</p>
<div class="lb-trans"><p>首先，简要说明一下自德鲁肯米勒出售英伟达股票以来发生的情况。这位亿万富翁如果多持有一个季度，可能会获得更多收益——他在第三季度出售了英伟达，而该股票在第四季度又上涨了 14%。但如果他持有到今年第一季度，他将经历英伟达从年初到上个月最低点的 29% 的损失。</p>
</div><p>All of this shows it's impossible to time the market and buy at the absolute lowest and sell at the highest -- but if you hold on for a matter of years, you don't have to do that. Long-term investing offers us plenty of time to score a very satisfactory win.</p>
<div class="lb-trans"><p>所有这些都表明，市场时机的把握几乎是不可能的，买入绝对的最低点和卖出最高点几乎不可能——但如果你持有几年，就不必这样做。长期投资给我们提供了充足的时间来获得非常满意的收益。</p>
</div><p>Now, let's consider Druckenmiller's latest move. In the first quarter of this year, the billionaire sold all of his shares of <strong>Palantir Technologies</strong>(PLTR 1.00%), a software company that's generated explosive revenue growth amid demand from government and commercial customers. Palantir offers them AI-driven software to aggregate their data and make better use of it -- and the technology has produced game-changing results that have kept the company's momentum going.</p>
<div class="lb-trans"><p>现在，让我们考虑德鲁肯米勒的最新举动。在今年第一季度，这位亿万富翁出售了他所有的 <strong>Palantir Technologies</strong>（PLTR）的股份，这是一家在政府和商业客户需求中实现爆炸性收入增长的软件公司。Palantir 为他们提供 AI 驱动的软件，以汇总数据并更好地利用这些数据——这项技术产生了颠覆性的结果，使公司的势头得以持续。</p>
</div><h2>An expensive stock</h2>
<div class="lb-trans"><h2>一只昂贵的股票</h2>
</div><p>In fact, even as analysts warn that Palantir shares have become too expensive, trading for a mind-blowing 222 times forward earnings estimates, the stock has continued to rise.</p>
<div class="lb-trans"><p>事实上，即使分析师警告 Palantir 的股票变得过于昂贵，交易价格高达惊人的 222 倍未来收益预期，该股票仍然持续上涨。</p>
</div><p>Druckenmiller originally bought Palantir stock in the first quarter of last year, so he held on to it for about a year. Last year, the shares surged 340%, then continued to march higher, advancing more than 70% from the start of this year through today. Druckenmiller, after winning on his Nvidia investment, scored a win on Palantir too.</p>
<div class="lb-trans"><p>德鲁肯米勒最初是在去年第一季度购买 Palantir 的股票，因此他持有了大约一年。去年，该股票上涨了 340%，然后继续上涨，从今年年初到今天上涨了超过 70%。在英伟达投资获利后，德鲁肯米勒在 Palantir 上也获得了成功。</p>
</div><p>In both cases, Druckenmiller accomplished this by holding on for only a year or two because leading AI stocks have delivered gains very quickly -- this happens from time to time in an industry that's particularly in favor during a given period.</p>
<div class="lb-trans"><p>在这两种情况下，德鲁肯米勒通过仅持有一到两年就实现了这一目标，因为领先的 AI 股票迅速带来了收益——在特定时期内，这种情况时有发生。</p>
</div><h2>Should you follow Druckenmiller's moves?</h2>
<div class="lb-trans"><h2>你应该跟随德鲁肯米勒的举动吗？</h2>
</div><p>Now, the question is, should you follow Druckenmiller and sell names like Nvidia and Palantir and move on? The answer depends on your investment strategy. It's important to remember that Druckenmiller is a professional and has the time and resources to quickly enter and exit positions -- and benefit from gains over a relatively short time period. And when Druckenmiller closes a position, it doesn't necessarily mean he no longer believes in the long-term story -- as he said regarding Nvidia last year. The billionaire may simply be allocating funds into other players that he believes could gain more quickly in the months to come.</p>
<div class="lb-trans"><p>现在，问题是，你应该跟随德鲁肯米勒，出售像英伟达和 Palantir 这样的股票并继续前进吗？答案取决于你的投资策略。重要的是要记住，德鲁肯米勒是一位专业人士，他有时间和资源迅速进出头寸——并在相对较短的时间内获利。当德鲁肯米勒关闭一个头寸时，并不一定意味着他不再相信长期故事——正如他去年对英伟达所说的那样。这位亿万富翁可能只是将资金分配到他认为在未来几个月内能够更快获利的其他公司。</p>
</div><p>But smaller non-professional investors may find that by staying invested in a particular player -- such as Nvidia or Palantir -- yes, they may accompany the stocks through a low period or two, but over the years to come they might score an additional win. So, it's often worth holding on for a number of years, as long as the companies' long-term growth prospects remain compelling. Today, Nvidia and Palantir both offer bright outlooks thanks to their solid technology, their strong market positions, and general forecasts for AI growth this decade -- and that means holding on to these players for a number of years also could be a great move.</p>
<div class="lb-trans"><p>但较小的非专业投资者可能会发现，通过持续投资于特定公司——例如英伟达或 Palantir——是的，他们可能会经历一两个低迷期，但在未来的几年中，他们可能会获得额外的收益。因此，只要公司的长期增长前景依然吸引人，通常值得持有几年。今天，英伟达和 Palantir 都因其强大的技术、稳固的市场地位以及对本十年 AI 增长的普遍预测而展现出光明的前景——这意味着持有这些公司几年也是一个很好的选择。</p>
</div>

Billionaire Stanley Druckenmiller Dumped Nvidia Last Year. Now He Just Sold All of His Shares of a Market-Beating Monster AI Stock That's Soared 1,500% Over the Past 3 Years.

- 人工智能股票在近年来大幅上涨，吸引了众多投资者。  
- 斯坦利·德鲁肯米勒出售了其持有的英伟达和帕兰提尔股票，获得了丰厚收益。  
- 尽管德鲁肯米勒卖出，但这两家公司仍具备良好的长期增长前景。  

亿万富翁斯坦利·德鲁肯米勒去年抛售了英伟达。如今，他刚刚卖掉了他持有的所有一只市场表现出色的 AI 股票，该股票在过去三年中上涨了 1500%