<p>在第一季度，由华尔街亿万富翁领导的两只成功对冲基金出售了 <strong>特斯拉</strong>(TSLA -1.71%)，并购买了 <strong>Cloudflare</strong>(NET 0.87%)，具体如下：</p>
<ul>
<li>大卫·肖的对冲基金 D.E. Shaw &amp; Co.出售了 130 万股特斯拉，减持 43%。特斯拉曾是投资组合中五大持仓之一，但现在不再排名前 20。该对冲基金还通过购买 5400 股 Cloudflare 开始了新仓位。</li>
<li>以色列·英格兰德的千禧管理公司出售了 855,100 股特斯拉，减持 43%。特斯拉曾是投资组合中 10 大持仓之一（不包括期权），但现在不再排名前 20。该对冲基金还购买了 218,500 股 Cloudflare，增持 186%。</li>
</ul>
<p>投资者应该了解一些关于这些交易的事情。首先，根据 LCH Investments，D.E. Shaw 和千禧管理公司是有史以来净收益最高的三只对冲基金中的两只。这使得它们成为个人投资者的良好灵感来源。</p>
<p>其次，特斯拉股票在过去三年仅回报 31%，表现不及 <strong>标准普尔 500 指数</strong> 低 23 个百分点。但在此期间，Cloudflare 股票飙升 327%，超越基准指数 265 个百分点。继续阅读以了解更多信息。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMzNjEvaW52ZXN0b3ItNDkuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMzNjEvaW52ZXN0b3ItNDkuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>特斯拉：亿万富翁领导的对冲基金在第一季度出售的股票</h2>
<p>特斯拉不再是电池电动汽车（BEVs）市场的领导者。事实上，该公司甚至不再排名第二。中国汽车制造商 <strong>比亚迪</strong> 和 <strong>吉利汽车</strong> 已经抢占了前两名的位置，因为特斯拉在需求方面遇到了困难。其第一季度收入下降 9%，至 193 亿美元，非 GAAP 净收入下降 40%，至每稀释股 0.27 美元，交付量下降 13%。</p>
<p>管理层将第一季度交付量下降归因于暂时限制 Model Y 生产的工厂更新，但更新已完成，公司仍在失去市场份额。5 月份，特斯拉在美国的销量下降 11%，在欧洲下降 28%，在中国下降 15%。相对昂贵的老旧车型是最可能的原因，但首席执行官埃隆·马斯克可能因参与政治而损害了品牌。</p>
<p>对于股东来说，有一些好消息。在 6 月份，特斯拉开始在德克萨斯州奥斯汀提供自动驾驶出租车服务。目前只有大约 20 辆机器人出租车在街道上行驶，乘车仅限受邀者。但马斯克告诉 CNBC，他预计到 2026 年底将有 “数十万辆” 机器人出租车上路。公司将通过允许车主将他们的特斯拉添加（或移除）到机器人出租车池中来众包车辆。</p>
<p>特斯拉在追赶 <strong>Alphabet</strong> 的 Waymo 之前还有很长的路要走，后者已经在五个美国城市提供机器人出租车服务，但其战略理论上赋予了它优势。具体而言，Waymo 配备了一系列摄像头、激光雷达和雷达，而特斯拉仅依靠摄像头进行自主导航，这成本更低且更具可扩展性。实际上，马斯克表示，特斯拉最终可能会占据 “99% 的市场份额或其他荒谬的数字”。</p>
<p>然而，尽管机器人出租车服务在长期内可能是一个巨大的机会，但特斯拉股票今天的定价已是完美预期。华尔街预计该公司的调整后收益将在 2026 年前每年增长 14%。</p>
<p>这使得当前 145 倍的市盈率看起来非常昂贵。我认为对自动驾驶故事有信心的投资者应该继续持有该股票，但必须为波动做好准备。</p>
<h2>Cloudflare：亿万富翁领导的对冲基金在第一季度购买的股票</h2>
<p>Cloudflare 是一个连接云，提供应用程序、网络和安全服务，以加速和保护关键业务基础设施。它有两个关键优势：它运营着全球最快的云网络，并处理约 20% 的所有网络流量，这为其提供了对互联网性能问题和安全威胁的深入洞察。</p>
<p>该公司在多个市场中处于领先地位。国际数据公司（IDC）将该公司评为内容交付网络软件的领导者。<strong>Forrester Research</strong> 认可其在网络应用防火墙方面的领导地位。GigaOm 将 Cloudflare 评为边缘开发平台的领导者。更广泛地说，根据 2024 年 Stack Overflow 调查，它是专业开发者中第四受欢迎的云平台。</p>
<p>Cloudflare 在第一季度报告了不错的财务业绩。客户数量增加 27%，达到 250,819，连续第四次加速，平均现有客户支出增加 11%。收入增长 27%，达到 4.79 亿美元，但非 GAAP 净收入持平，每稀释股 0.16 美元，因为毛利率下降和流通股数量增加。</p>
<p>随着对人工智能（AI）基础设施需求的增加，Cloudflare 处于良好的位置，特别是因为其平台非常快速。该公司正在利用这一机会推出 Workers AI，这是一项允许客户在其超快速网络上构建和部署 AI 应用程序的服务。过去一年，Workers AI 推理请求数量激增 4000%。</p>
<p>华尔街预计 Cloudflare 的收益将在 2026 年前每年增长 21%。这使得目前 258 倍的市盈率看起来非常昂贵。诚然，该公司在过去四个季度平均超出共识收益预期 13%，但即使这种模式持续，股票仍将非常昂贵。</p>
<p>与特斯拉一样，能够承受波动的股东应继续持有该股票。但如果大幅下跌的想法让你感到紧张，可以考虑减持你的仓位。</p>

特斯拉

2 倍做空特斯拉 ETF - GraniteShares

2 倍做多特斯拉 ETF - Direxion

2 倍做空特斯拉 ETF - Tradr

XI二南特斯-U

南方两倍做多特斯拉

南方两倍做空特斯拉

2 倍做多 TSLA ETF - GraniteShares

<p>在第一季度，由亿万富翁主导的对冲基金出售了特斯拉股票，并购买了 Cloudflare 的股份。D.E. Shaw 出售了 130 万股特斯拉股票，减少了 43% 的持股比例，而 Millennium Management 则出售了 855,100 股，同样削减了 43% 的持股比例。特斯拉的股票表现不佳，三年仅回报 31%，而 Cloudflare 则飙升了 327%。特斯拉面临市场份额和收入下降的问题，而 Cloudflare 报告了 27% 的收入增长，并在人工智能基础设施需求方面处于良好位置。投资者应注意这两只股票的表现和潜力的对比</p>

<p>In the first quarter, two successful hedge funds led by Wall Street billionaires sold <strong>Tesla</strong>(TSLA -1.71%) and bought <strong>Cloudflare</strong>(NET 0.87%), as detailed below:</p>
<div class="lb-trans"><p>在第一季度，由华尔街亿万富翁领导的两只成功对冲基金出售了 <strong>特斯拉</strong>(TSLA -1.71%)，并购买了 <strong>Cloudflare</strong>(NET 0.87%)，具体如下：</p>
</div><ul>
<li>David Shaw's hedge fund D.E. Shaw &amp; Co. sold 1.3 million shares of Tesla, cutting its stake 43%. Tesla had been one of the five largest positions in the portfolio but no longer ranks among the top 20. The hedge fund also started a new position by purchasing 5,400 shares of Cloudflare.</li>
<li>Israel Englander's Millennium Management sold 855,100 shares of Tesla, cutting its stake 43%. Tesla had been one of the 10 largest positions in the portfolio, excluding options, but it no longer ranks in the top 20. The hedge fund also purchased 218,500 shares of Cloudflare, increasing its stake 186%.</li>
</ul>
<div class="lb-trans"><ul>
<li>大卫·肖的对冲基金 D.E. Shaw &amp; Co.出售了 130 万股特斯拉，减持 43%。特斯拉曾是投资组合中五大持仓之一，但现在不再排名前 20。该对冲基金还通过购买 5400 股 Cloudflare 开始了新仓位。</li>
<li>以色列·英格兰德的千禧管理公司出售了 855,100 股特斯拉，减持 43%。特斯拉曾是投资组合中 10 大持仓之一（不包括期权），但现在不再排名前 20。该对冲基金还购买了 218,500 股 Cloudflare，增持 186%。</li>
</ul>
</div><p>Investors should know a few things about those trades. First, D.E. Shaw and Millennium are two of the three most profitable hedge funds of all time in terms of net gains, according to LCH Investments. That makes them good sources of inspiration for individual investors.</p>
<div class="lb-trans"><p>投资者应该了解一些关于这些交易的事情。首先，根据 LCH Investments，D.E. Shaw 和千禧管理公司是有史以来净收益最高的三只对冲基金中的两只。这使得它们成为个人投资者的良好灵感来源。</p>
</div><p>Second, Tesla stock returned just 31% in the last three years, underperforming the <strong>S&amp;P 500</strong> by 23 percentage points. But Cloudflare stock rocketed 327% during that period, beating the benchmark index by 265 percentage points. Read on to learn more.</p>
<div class="lb-trans"><p>其次，特斯拉股票在过去三年仅回报 31%，表现不及 <strong>标准普尔 500 指数</strong> 低 23 个百分点。但在此期间，Cloudflare 股票飙升 327%，超越基准指数 265 个百分点。继续阅读以了解更多信息。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjMzNjEvaW52ZXN0b3ItNDkuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F823361%2Finvestor-49.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>Tesla: The stock billionaire-led hedge funds were selling in the first quarter</h2>
<div class="lb-trans"><h2>特斯拉：亿万富翁领导的对冲基金在第一季度出售的股票</h2>
</div><p>Tesla is no longer the market leader in battery electric vehicles (BEVs). In fact, the company doesn't even rank second anymore. Chinese automakers <strong>BYD</strong> and <strong>Geely Automobile</strong> have stolen the top spots as Tesla has struggled with demand. Its first-quarter revenue dropped 9% to $19.3 billion and non-GAAP net income fell 40% to $0.27 per diluted share as deliveries dropped 13%.</p>
<div class="lb-trans"><p>特斯拉不再是电池电动汽车（BEVs）市场的领导者。事实上，该公司甚至不再排名第二。中国汽车制造商 <strong>比亚迪</strong> 和 <strong>吉利汽车</strong> 已经抢占了前两名的位置，因为特斯拉在需求方面遇到了困难。其第一季度收入下降 9%，至 193 亿美元，非 GAAP 净收入下降 40%，至每稀释股 0.27 美元，交付量下降 13%。</p>
</div><p>Management blamed factory updates that temporarily limited Model Y production for the drop in first-quarter deliveries, but the refresh is complete and the company is still losing market share. In May, Tesla sales fell 11% in the U.S., 28% in Europe, and 15% in China. An aging lineup of relatively expensive cars is the most probable cause, but CEO Elon Musk has likely damaged the brand by involving himself in politics.</p>
<div class="lb-trans"><p>管理层将第一季度交付量下降归因于暂时限制 Model Y 生产的工厂更新，但更新已完成，公司仍在失去市场份额。5 月份，特斯拉在美国的销量下降 11%，在欧洲下降 28%，在中国下降 15%。相对昂贵的老旧车型是最可能的原因，但首席执行官埃隆·马斯克可能因参与政治而损害了品牌。</p>
</div><p>There is some good news for shareholders. In June, Tesla started offering autonomous rides in Austin, Texas. Only about 20 robotaxis currently roam the streets, and rides are restricted to invitees. But Musk told CNBC he expects &#34;hundreds of thousands&#34; of robotaxis on the road by the end of 2026. The company will crowdsource vehicles by allowing owners to add (or subtract) their Teslas from the robotaxi pool.</p>
<div class="lb-trans"><p>对于股东来说，有一些好消息。在 6 月份，特斯拉开始在德克萨斯州奥斯汀提供自动驾驶出租车服务。目前只有大约 20 辆机器人出租车在街道上行驶，乘车仅限受邀者。但马斯克告诉 CNBC，他预计到 2026 年底将有 “数十万辆” 机器人出租车上路。公司将通过允许车主将他们的特斯拉添加（或移除）到机器人出租车池中来众包车辆。</p>
</div><p>Tesla has a ways to go before it catches <strong>Alphabet</strong>'s Waymo, which already offers robotaxi services in five U.S. cities, but its strategy theoretically affords it an advantage. Specifically, Waymos are equipped with an array of cameras, lidar, and radar, but Teslas rely solely on cameras to navigate autonomously, which is less costly and more scalable. Indeed, Musk says Tesla could eventually capture &#34;99% market share or something ridiculous.&#34;</p>
<div class="lb-trans"><p>特斯拉在追赶 <strong>Alphabet</strong> 的 Waymo 之前还有很长的路要走，后者已经在五个美国城市提供机器人出租车服务，但其战略理论上赋予了它优势。具体而言，Waymo 配备了一系列摄像头、激光雷达和雷达，而特斯拉仅依靠摄像头进行自主导航，这成本更低且更具可扩展性。实际上，马斯克表示，特斯拉最终可能会占据 “99% 的市场份额或其他荒谬的数字”。</p>
</div><p>However, while robotaxi services could be a massive opportunity in the long term, Tesla stock is priced for perfection today. Wall Street expects the company's adjusted earnings to increase at 14% annually through 2026.</p>
<div class="lb-trans"><p>然而，尽管机器人出租车服务在长期内可能是一个巨大的机会，但特斯拉股票今天的定价已是完美预期。华尔街预计该公司的调整后收益将在 2026 年前每年增长 14%。</p>
</div><p>That makes the current valuation of 145 times earnings look very expensive. I think investors with conviction in the autonomous driving story should keep holding the stock but must be prepared for volatility.</p>
<div class="lb-trans"><p>这使得当前 145 倍的市盈率看起来非常昂贵。我认为对自动驾驶故事有信心的投资者应该继续持有该股票，但必须为波动做好准备。</p>
</div><h2>Cloudflare: The stock billionaire-led hedge funds were buying in the first quarter</h2>
<div class="lb-trans"><h2>Cloudflare：亿万富翁领导的对冲基金在第一季度购买的股票</h2>
</div><p>Cloudflare is a connectivity cloud that offers application, network, and security services that speed up and protect critical business infrastructure. It has two key advantages: It operates the fastest cloud network on the planet and handles about 20% of all web traffic, which provides deep insight into performance issues and security threats across the internet.</p>
<div class="lb-trans"><p>Cloudflare 是一个连接云，提供应用程序、网络和安全服务，以加速和保护关键业务基础设施。它有两个关键优势：它运营着全球最快的云网络，并处理约 20% 的所有网络流量，这为其提供了对互联网性能问题和安全威胁的深入洞察。</p>
</div><p>The company is a leader in several markets. International Data Corp. (IDC) has ranked the company a leader in content delivery network software. <strong>Forrester Research</strong> has recognized its leadership web application firewalls. GigaOm has ranked Cloudflare as a leader in edge development platforms. More broadly, it's the fourth-most-popular cloud platform among professional developers, according to the 2024 Stack Overflow survey.</p>
<div class="lb-trans"><p>该公司在多个市场中处于领先地位。国际数据公司（IDC）将该公司评为内容交付网络软件的领导者。<strong>Forrester Research</strong> 认可其在网络应用防火墙方面的领导地位。GigaOm 将 Cloudflare 评为边缘开发平台的领导者。更广泛地说，根据 2024 年 Stack Overflow 调查，它是专业开发者中第四受欢迎的云平台。</p>
</div><p>Cloudflare reported decent financial results in the first quarter. Customers increased 27% to 250,819, the fourth straight acceleration, and the average existing customer spent 11% more. Revenue increased 27% to $479 million, but non-GAAP net income was flat at $0.16 per diluted share as gross margin fell and the number of outstanding shares rose.</p>
<div class="lb-trans"><p>Cloudflare 在第一季度报告了不错的财务业绩。客户数量增加 27%，达到 250,819，连续第四次加速，平均现有客户支出增加 11%。收入增长 27%，达到 4.79 亿美元，但非 GAAP 净收入持平，每稀释股 0.16 美元，因为毛利率下降和流通股数量增加。</p>
</div><p>Cloudflare is well-positioned to benefit as demand for artificial intelligence (AI) infrastructure increases, particularly because its platform is very fast. The company is leaning into that opportunity with Workers AI, a service that lets clients build and deploy AI applications on its ultra-fast network. The number of Workers AI inference requests jumped 4,000% in the past year.</p>
<div class="lb-trans"><p>随着对人工智能（AI）基础设施需求的增加，Cloudflare 处于良好的位置，特别是因为其平台非常快速。该公司正在利用这一机会推出 Workers AI，这是一项允许客户在其超快速网络上构建和部署 AI 应用程序的服务。过去一年，Workers AI 推理请求数量激增 4000%。</p>
</div><p>Wall Street estimates Cloudflare's earnings will increase at 21% annually through 2026. That makes the present valuation of 258 times earnings look very expensive. Admittedly, the company beat the consensus earnings estimate by an average of 13% during the last four quarters, but the stock would still be very expensive, even if that pattern continues.</p>
<div class="lb-trans"><p>华尔街预计 Cloudflare 的收益将在 2026 年前每年增长 21%。这使得目前 258 倍的市盈率看起来非常昂贵。诚然，该公司在过去四个季度平均超出共识收益预期 13%，但即使这种模式持续，股票仍将非常昂贵。</p>
</div><p>As with Tesla, shareholders comfortable with volatility should continue holding the stock. But if the idea of a substantial decline makes you nervous, consider trimming your position.</p>
<div class="lb-trans"><p>与特斯拉一样，能够承受波动的股东应继续持有该股票。但如果大幅下跌的想法让你感到紧张，可以考虑减持你的仓位。</p>
</div>

Billionaires Sell Tesla Stock and Buy Another AI Stock Up 327% in 3 Years

- 两家对冲基金在第一季度出售特斯拉股票，购买 Cloudflare 股票。  
- 特斯拉第一季度收入下降 9%，市场份额减少，Cloudflare 客户增长 27%。  
- 投资者需关注特斯拉和 Cloudflare 的未来增长潜力与估值。  

亿万富翁们正在出售特斯拉股票，并转而购买另一只在三年内上涨了 327% 的人工智能股票