<p>凯西·伍德以投资新兴（如果不是投机性）技术而闻名，例如基因组学和飞行电动出租车。如果你稍微浏览一下她在 ARK Invest 的投资组合，你可能会对她最大的持仓感到陌生。</p>
<p>然而，时不时地，会出现一些连伍德也无法错过的主流机会。让我们探讨一下她最近在人工智能（AI）方面的投资情况，更具体地说，她关注了哪些半导体股票。</p>
<h2>凯西·伍德最近一直在寻找芯片股票</h2>
<p>ARK Invest 为投资者提供了八种不同的交易所交易基金（ETFs），每种基金专注于特定主题。根据 ARK 的网站，投资组合中最大的持仓包括 <strong>特斯拉</strong>、<strong>Coinbase Global</strong>、<strong>Roku</strong>、<strong>Palantir Technologies</strong>、<strong>Robinhood Markets</strong> 和 <strong>Archer Aviation</strong>。这些公司都吸引了忠实的追随者——主要来自零售投资者——但伍德还用一些蓝筹企业来补充这些持仓。</p>
<p>在主流 AI 股票方面，她持有 “七大巨头” 中的 <strong>亚马逊</strong> 和 <strong>Alphabet</strong> 的股份。我的猜测是？她正在用已经证明 AI 驱动服务对其业务有多么有利可图的云计算巨头来对冲她更具投机性的持仓。</p>
<p>不过，除了上述公司，我注意到伍德在过去几个月的买入模式中出现了一些小趋势。具体来说，ARK 一直在用芯片股票来完善其 AI 投资。她似乎在今年早些时候的纳斯达克抛售期间重新与 <strong>Nvidia</strong> 建立了关系，最近又在 <strong>Advanced Micro Devices</strong>（AMD）上买入了下跌。</p>
<p>现在，这位成长型投资者刚刚对另一只 AI 芯片股票进行了投资，我认为这可能是她迄今为止最聪明的举动。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>伍德刚刚买入了哪只巨头 AI 半导体股票？</h2>
<p>根据最近的交易数据，ARK 在 5 月 19 日至 20 日之间共购买了 241,047 股 <strong>台积电</strong>（TSM -0.73%）。这很显著，因为这是 ARK 多年内首次大规模购买台积电。</p>
<p>台积电（TSMC）专注于代工服务。这是芯片开发过程中的一个重要组成部分，因为像 Nvidia、AMD、<strong>博通</strong>、亚马逊、<strong>高通</strong> 等公司都在很大程度上依赖台积电的制造工艺来实现他们的芯片和系统设计。</p>
<p>预计到下个十年，AI 基础设施支出将达到数万亿美元，因此我相信，随着公司继续购买芯片和配备数据中心，台积电的服务将保持需求。然而，我看到持有该股票的一个更微妙的原因。</p>
<p>在我看来，台积电是推动整个 AI 产业的引擎。如果没有其市场领先的制造工艺，Nvidia 及其同行可能无法满足对其芯片组的需求。考虑到这些动态，台积电处于一个独特的位置，只要对图形处理单元（GPU）和其他半导体产品的需求保持强劲，它就能受益。</p>
<p>换句话说，公司的增长并不依赖于特定公司的特定芯片设计。相反，它可以享受来自 AI 基础设施的更广泛、更长期的顺风。</p>
<h2>现在这只股票值得买入吗？</h2>
<p>在过去一年中，台积电的股价上涨了 20%——几乎是 <strong>标准普尔 500 指数</strong> 和 <strong>纳斯达克综合指数</strong> 涨幅的两倍。虽然这可能意味着该股票正在经历一些超常的动量，但我仍然认为现在的股价具有吸引力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.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/5a9e7d295645ba5345b97ed1a4ceea65.png"/></p>
<p>TSMC 市盈率（前瞻性）数据来自 YCharts；市盈率=价格与收益比。</p>
<p>在过去几周股市反弹之前，台积电的前瞻性市盈率（P/E）一直徘徊在一年来的最低水平。此外，尽管公司的估值倍数最近有所扩大，但其前瞻性市盈率为 20.8，几乎与标准普尔 500 指数的平均前瞻性市盈率相同。</p>
<p>考虑到 AI 的顺风依然强劲——即使在这个明显的经济不确定时期——再加上台积电在实现芯片组方面的关键角色，我很难认为公司的前景与更广泛市场的前景相当。</p>
<p>在我看来，投资者现在对这只股票的估值严重低估。我认为这只股票是个明智的选择，且价格便宜。我认为有长期投资视野的成长型投资者应该考虑跟随伍德的脚步，并在台积电中补充他们的芯片股票。</p>

台积电

<p>ARK Invest 的 Cathie Wood 最近购买了 241,047 股台积电（TSMC）的股票，这是她多年内首次对该公司的重大投资。台积电在人工智能基础设施中至关重要，为 Nvidia 和 AMD 等主要芯片公司提供制造服务。尽管台积电的股票在过去一年中上涨了 20%，但其前瞻市盈率仍与标准普尔 500 指数具有竞争力，这表明其被低估。Wood 的投资策略显示出对台积电在不断增长的人工智能市场中角色的信心，使其成为长期投资者的潜在买入对象</p>

<p>Cathie Wood is best known for investing in emerging (if not speculative) technologies such as genomics and flying electric taxis. If you take even a cursory glance at her portfolio with ARK Invest, odds are you'll be unfamiliar with most of her largest positions.</p>
<div class="lb-trans"><p>凯西·伍德以投资新兴（如果不是投机性）技术而闻名，例如基因组学和飞行电动出租车。如果你稍微浏览一下她在 ARK Invest 的投资组合，你可能会对她最大的持仓感到陌生。</p>
</div><p>From time to time, however, there are mainstream opportunities that even Wood can't pass up. Let's explore how she has been investing in artificial intelligence (AI) as of late, and more specifically, which semiconductor stocks she has had on her radar.</p>
<div class="lb-trans"><p>然而，时不时地，会出现一些连伍德也无法错过的主流机会。让我们探讨一下她最近在人工智能（AI）方面的投资情况，更具体地说，她关注了哪些半导体股票。</p>
</div><h2>Cathie Wood has been on the hunt for chip stocks lately</h2>
<div class="lb-trans"><h2>凯西·伍德最近一直在寻找芯片股票</h2>
</div><p>ARK Invest offers investors eight different exchange-traded funds (ETFs), each of which focuses on a specific theme. According to ARK's website, the largest positions in the portfolios include <strong>Tesla</strong>, <strong>Coinbase Global</strong>, <strong>Roku</strong>, <strong>Palantir Technologies</strong>, <strong>Robinhood Markets</strong>, and <strong>Archer Aviation</strong>. Each of these companies has attracted a loyal following -- mostly from retail investors -- but Wood complements these positions with some more blue chip businesses.</p>
<div class="lb-trans"><p>ARK Invest 为投资者提供了八种不同的交易所交易基金（ETFs），每种基金专注于特定主题。根据 ARK 的网站，投资组合中最大的持仓包括 <strong>特斯拉</strong>、<strong>Coinbase Global</strong>、<strong>Roku</strong>、<strong>Palantir Technologies</strong>、<strong>Robinhood Markets</strong> 和 <strong>Archer Aviation</strong>。这些公司都吸引了忠实的追随者——主要来自零售投资者——但伍德还用一些蓝筹企业来补充这些持仓。</p>
</div><p>When it comes to mainstream AI stocks, she owns positions in &#34;Magnificent Seven&#34; cornerstones <strong>Amazon</strong> and <strong>Alphabet</strong>. My guess? She's hedging her more-speculative positions with cloud hyperscalers that are already proving just how lucrative AI-powered services can be for their businesses.</p>
<div class="lb-trans"><p>在主流 AI 股票方面，她持有 “七大巨头” 中的 <strong>亚马逊</strong> 和 <strong>Alphabet</strong> 的股份。我的猜测是？她正在用已经证明 AI 驱动服务对其业务有多么有利可图的云计算巨头来对冲她更具投机性的持仓。</p>
</div><p>Besides the above, however, I've noticed a little trend in Wood's buying patterns over the last couple of months. Specifically, ARK has been rounding out its AI investments with chip stocks. She appears to have rekindled her relationship with <strong>Nvidia</strong> during the Nasdaq sell-off earlier this year, and more recently, she bought the dip in <strong>Advanced Micro Devices</strong> (AMD).</p>
<div class="lb-trans"><p>不过，除了上述公司，我注意到伍德在过去几个月的买入模式中出现了一些小趋势。具体来说，ARK 一直在用芯片股票来完善其 AI 投资。她似乎在今年早些时候的纳斯达克抛售期间重新与 <strong>Nvidia</strong> 建立了关系，最近又在 <strong>Advanced Micro Devices</strong>（AMD）上买入了下跌。</p>
</div><p>Now, the growth investor just pounced on another AI chip stock, and I think this might be her most savvy move yet.</p>
<div class="lb-trans"><p>现在，这位成长型投资者刚刚对另一只 AI 芯片股票进行了投资，我认为这可能是她迄今为止最聪明的举动。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F819546%2Fgettyimages-1654943665-1.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>Which monster AI semiconductor stock did Wood just scoop up?</h2>
<div class="lb-trans"><h2>伍德刚刚买入了哪只巨头 AI 半导体股票？</h2>
</div><p>According to recent trading data, ARK bought a combined 241,047 shares of <strong>Taiwan Semiconductor Manufacturing</strong>(TSM -0.73%) between May 19 and 20. This is notable because it's the first major purchase of Taiwan Semiconductor by ARK in years.</p>
<div class="lb-trans"><p>根据最近的交易数据，ARK 在 5 月 19 日至 20 日之间共购买了 241,047 股 <strong>台积电</strong>（TSM -0.73%）。这很显著，因为这是 ARK 多年内首次大规模购买台积电。</p>
</div><p>TSMC (as it's also known) specializes in foundry services. This is an important component of the chip development process because companies such as Nvidia, AMD, <strong>Broadcom</strong>, Amazon, <strong>Qualcomm</strong>, and many more all rely heavily on TSMC's fabrication process to bring their chip and system designs to life.</p>
<div class="lb-trans"><p>台积电（TSMC）专注于代工服务。这是芯片开发过程中的一个重要组成部分，因为像 Nvidia、AMD、<strong>博通</strong>、亚马逊、<strong>高通</strong> 等公司都在很大程度上依赖台积电的制造工艺来实现他们的芯片和系统设计。</p>
</div><p>AI infrastructure spending is expected to reach multiple trillions of dollars by the next decade, so I'm confident that TSMC's services will remain in demand as companies continue buying chips and outfitting data centers. However, I see a more subtle reason to own the stock.</p>
<div class="lb-trans"><p>预计到下个十年，AI 基础设施支出将达到数万亿美元，因此我相信，随着公司继续购买芯片和配备数据中心，台积电的服务将保持需求。然而，我看到持有该股票的一个更微妙的原因。</p>
</div><p>To me, TSMC is the engine powering the entire AI vehicle. Without its market-leading fabrication processes, Nvidia and its peers likely would not be able to fulfill demand for their chipsets. Given these dynamics, TSMC is in a rare position in that it stands to benefit as long as demand for graphics processing units (GPUs) and other semiconductor products remains strong.</p>
<div class="lb-trans"><p>在我看来，台积电是推动整个 AI 产业的引擎。如果没有其市场领先的制造工艺，Nvidia 及其同行可能无法满足对其芯片组的需求。考虑到这些动态，台积电处于一个独特的位置，只要对图形处理单元（GPU）和其他半导体产品的需求保持强劲，它就能受益。</p>
</div><p>In other words, the company's growth doesn't hinge on a particular chip design from a specific company. Rather, it can enjoy broader, more secular tailwinds from AI infrastructure.</p>
<div class="lb-trans"><p>换句话说，公司的增长并不依赖于特定公司的特定芯片设计。相反，它可以享受来自 AI 基础设施的更广泛、更长期的顺风。</p>
</div><h2>Is the stock a buy right now?</h2>
<div class="lb-trans"><h2>现在这只股票值得买入吗？</h2>
</div><p>Over the past year, shares of TSMC have gained 20% -- nearly double the gains seen across both the <strong>S&amp;P 500</strong> and <strong>Nasdaq Composite</strong>. While that might imply the stock is experiencing some outsize momentum, I still find shares attractively priced right now.</p>
<div class="lb-trans"><p>在过去一年中，台积电的股价上涨了 20%——几乎是 <strong>标准普尔 500 指数</strong> 和 <strong>纳斯达克综合指数</strong> 涨幅的两倍。虽然这可能意味着该股票正在经历一些超常的动量，但我仍然认为现在的股价具有吸引力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.png" alt="" original-src="https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.png"/></p>
<p>TSM PE Ratio (Forward) data by YCharts; PE = price to earnings.</p>
<div class="lb-trans"><p>TSMC 市盈率（前瞻性）数据来自 YCharts；市盈率=价格与收益比。</p>
</div><p>Prior to the rebound in the stock market over the last few weeks, TSMC's forward price-to-earnings multiple (P/E) was hovering around its lowest levels in a year. What's more, even though the company's valuation multiples have been expanding as of late, its forward P/E of 20.8 is nearly identical to the average forward P/E across the S&amp;P 500 index.</p>
<div class="lb-trans"><p>在过去几周股市反弹之前，台积电的前瞻性市盈率（P/E）一直徘徊在一年来的最低水平。此外，尽管公司的估值倍数最近有所扩大，但其前瞻性市盈率为 20.8，几乎与标准普尔 500 指数的平均前瞻性市盈率相同。</p>
</div><p>Given how strong AI tailwinds remain -- even during this pronounced period of economic uncertainty -- combined with TSMC's mission-critical role in bringing chipsets to life, I'm hard-pressed to think that the company's prospects are commensurate with that of the broader market.</p>
<div class="lb-trans"><p>考虑到 AI 的顺风依然强劲——即使在这个明显的经济不确定时期——再加上台积电在实现芯片组方面的关键角色，我很难认为公司的前景与更广泛市场的前景相当。</p>
</div><p>To me, investors are heavily discounting the stock right now. I see shares as a no-brainer <em>and</em> a bargain. I think growth investors with a long time horizon should consider following Wood's lead and complement their chip stocks with a position in Taiwan Semiconductor Manufacturing.</p>
<div class="lb-trans"><p>在我看来，投资者现在对这只股票的估值严重低估。我认为这只股票是个明智的选择，且价格便宜。我认为有长期投资视野的成长型投资者应该考虑跟随伍德的脚步，并在台积电中补充他们的芯片股票。</p>
</div>

Cathie Wood Goes Bargain Hunting: 1 Monster Artificial Intelligence (AI) Semiconductor Stock She Just Bought on the Dip. (Hint: It's Not Nvidia or AMD.)

- Cathie Wood 最近投资了台湾半导体制造公司（TSMC）的股票。  
- ARK Invest 在 5 月 19 日至 20 日间购买了 241,047 股 TSMC。  
- TSMC 在 AI 基础设施支出中扮演关键角色，未来需求强劲。  

凯西·伍德开始寻找便宜货：她刚刚在股价下跌时买入了一只巨大的人工智能（AI）半导体股票。（提示：这不是英伟达或 AMD。）