<p>大约一年以来，半导体巨头 <strong>Nvidia</strong> 和云计算巨头 <strong>Microsoft</strong> 一直在争夺全球最有价值公司的宝座。但随着 Nvidia 逐渐接近令人垂涎的 4 万亿美元里程碑，这家公司似乎正在将其 &#34;七大巨头&#34; 的同行们抛在了身后。</p>
<p>尽管 Nvidia 目前拥有最有价值公司的称号，但我认为电子商务和云基础设施专家 <strong>Amazon</strong>（AMZN 1.26%）在长期内更有可能成为更大的公司。</p>
<p>让我们探讨一下 Amazon 如何在其业务中利用 AI 的多种方式，并详细说明该公司强劲的增长前景如何在未来五年内导致估值的显著扩张。</p>
<h2>AI 如何帮助 Amazon 开启新一轮增长？</h2>
<p>Amazon 的生态系统涵盖电子商务、物流、消费电子、云计算、广告、流媒体等多个领域。虽然 AI 有潜力为每项服务增值，但我认为投资者应该关注这项技术如何在云计算和电子商务领域特别激发显著增长。</p>
<p>Amazon 的大部分收入来自在线销售，去年创造了高达 2500 亿美元的收入。然而，由于商品同质化、全球范围内昂贵的运输基础设施以及消费者购物模式的波动，使得电子商务业务对 Amazon 来说相对低利润。</p>
<p>管理层已表示希望通过利用 AI 驱动的机器人来提高这一业务领域的盈利能力。机器人可以集成到 Amazon 的仓库中，帮助自动化日常任务，与人力劳动力协同工作。此外，首席执行官 Andy Jassy 甚至表示，未来机器人可以协助运输和交付包裹。</p>
<p>根据 <strong>摩根士丹利</strong> 的最新分析，机器人可以帮助单个仓库降低 25% 的成本。考虑到 Amazon 的全球规模，这些成本降低理论上可以在长期内使电子商务运营的盈利能力增加数十亿美元。</p>
<p>在云业务方面，Amazon 在过去几年中向一家名为 Anthropic 的初创公司投资了 80 亿美元。Anthropic 的服务已迅速整合到 Amazon Web Services (AWS) 中，其对业务销售和盈利能力的影响已经相当显著。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="490" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA"/></p>
<p>图片来源：Amazon 投资者关系。</p>
<h2>为什么 Amazon 的估值在长期内看起来更有可能扩张超过 Nvidia 或 Microsoft</h2>
<p>在过去的几年中，Nvidia 的图形处理单元 (GPU) 一直被认为是生成 AI 开发的黄金标准。尽管许多七大巨头公司今天是 Nvidia 的最大客户，但这些动态在未来几年可能会发生变化。</p>
<p>尽管 Nvidia 和 Microsoft 目前的估值较高，但我认为这两家公司可能会在芯片和云领域面临竞争压力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="507" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png"/></p>
<p>AMZN 市盈率（前瞻性）数据来自 YCharts</p>
<p>考虑到 ChatGPT 制造商最近一直在探索与 <strong>Alphabet</strong> 和 <strong>Oracle</strong> 的合作机会，Microsoft 与 OpenAI 的合作可能不再像以前那样有利可图。</p>
<p>此外，Amazon、Microsoft 和 Alphabet 都在为自己的定制硅开发投入大量资本。此外，<strong>超微半导体</strong> 已建立起强大的数据中心和 AI 芯片业务，直接与 Nvidia 竞争。</p>
<p>根据上面所示的前瞻市盈率 (P/E) 趋势，Amazon 似乎正在经历一定程度的扩张。在我看来，这表明投资者可能终于意识到 Amazon 在通过 AI 增强其生态系统方面具有独特的优势，从而进一步实现其各种服务的货币化。</p>
<p>因此，随着 AI 成为支持 Amazon 转型的核心支柱，该公司的市值在未来几年可能相对于其同行大幅上升。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="427" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>现在 Amazon 股票值得买吗？</h2>
<p>尽管 Amazon 股票现在并不便宜，但我仍然认为它是长期投资者一个引人注目的买入和持有机会。我认为 AI 带来的上行潜力尚未完全反映在股价中，尽管最近几个月有所扩张。</p>
<p>考虑到 AI 可能为 Amazon 的核心电子商务和云业务带来的长期增值影响，我认为该公司正处于一个新的增长阶段，未来几年将实现收入和利润的加速增长。</p>
<p>因此，我认为投资者可能会继续以溢价评估 Amazon，相较于其 AI 竞争对手，预计该公司将在下一个十年初成为全球最有价值的企业。</p>

亚马逊

亚马逊每日 2 倍做多 ETF - Direxion

<p>这篇文章预测，到 2030 年，亚马逊可能会成为全球最有价值的公司，超越英伟达和微软。文章强调了亚马逊在其电子商务和云服务中广泛使用人工智能，这可能显著提升盈利能力。预计在仓库中整合人工智能驱动的机器人以及对像 Anthropic 这样的人工智能初创公司的投资将推动增长。尽管当前股价表现一般，亚马逊被视为长期投资者的强劲买入选择，随着人工智能成为其运营的核心，收入和利润有望大幅增长</p>

<p>For about a year now, semiconductor powerhouse <strong>Nvidia</strong> and cloud computing giant <strong>Microsoft</strong> have been trading places for the most valuable company in the world. But as Nvidia inches closer to the coveted $4 trillion milestone, it might seem like the company is leaving its &#34;Magnificent Seven&#34; peers in the dust.</p>
<div class="lb-trans"><p>大约一年以来，半导体巨头 <strong>Nvidia</strong> 和云计算巨头 <strong>Microsoft</strong> 一直在争夺全球最有价值公司的宝座。但随着 Nvidia 逐渐接近令人垂涎的 4 万亿美元里程碑，这家公司似乎正在将其 &#34;七大巨头&#34; 的同行们抛在了身后。</p>
</div><p>Although Nvidia currently holds the title for the most valuable company, I think e-commerce and cloud infrastructure specialist <strong>Amazon</strong>(AMZN 1.26%) has a better shot at becoming the larger company in the long run.</p>
<div class="lb-trans"><p>尽管 Nvidia 目前拥有最有价值公司的称号，但我认为电子商务和云基础设施专家 <strong>Amazon</strong>（AMZN 1.26%）在长期内更有可能成为更大的公司。</p>
</div><p>Let's explore the variety of ways that Amazon is already leveraging AI across its business and detail why the company's robust growth prospects could lead to a considerable expansion in valuation over the next five years.</p>
<div class="lb-trans"><p>让我们探讨一下 Amazon 如何在其业务中利用 AI 的多种方式，并详细说明该公司强劲的增长前景如何在未来五年内导致估值的显著扩张。</p>
</div><h2>How can AI help usher in a new wave of growth for Amazon?</h2>
<div class="lb-trans"><h2>AI 如何帮助 Amazon 开启新一轮增长？</h2>
</div><p>Amazon's ecosystem spans e-commerce, logistics, consumer electronics, cloud computing, advertising, streaming, and much more. While AI has the potential to add value to each of these services, I think investors should hone in on how the technology could ignite significant growth across the cloud and e-commerce segments in particular.</p>
<div class="lb-trans"><p>Amazon 的生态系统涵盖电子商务、物流、消费电子、云计算、广告、流媒体等多个领域。虽然 AI 有潜力为每项服务增值，但我认为投资者应该关注这项技术如何在云计算和电子商务领域特别激发显著增长。</p>
</div><p>Amazon derives the majority of its revenue from online sales, which generated a whopping $250 billion over the last year. Factors such as commoditized product offerings, expensive transportation infrastructure at global scale, and fluctuating shopping patterns from consumers make the e-commerce business a relatively low-margin business for Amazon, though.</p>
<div class="lb-trans"><p>Amazon 的大部分收入来自在线销售，去年创造了高达 2500 亿美元的收入。然而，由于商品同质化、全球范围内昂贵的运输基础设施以及消费者购物模式的波动，使得电子商务业务对 Amazon 来说相对低利润。</p>
</div><p>Management has expressed intentions to make this area of the business more profitable by leveraging AI-powered robotics. Robotics can be integrated in Amazon's warehouses to help automate mundane tasks alongside the human labor force. In addition, CEO Andy Jassy has even expressed that robots could assist in transportation and delivery of packages down the road.</p>
<div class="lb-trans"><p>管理层已表示希望通过利用 AI 驱动的机器人来提高这一业务领域的盈利能力。机器人可以集成到 Amazon 的仓库中，帮助自动化日常任务，与人力劳动力协同工作。此外，首席执行官 Andy Jassy 甚至表示，未来机器人可以协助运输和交付包裹。</p>
</div><p>Per a recent analysis from <strong>Morgan Stanley</strong>, robotics could help reduce costs by 25% in an individual warehouse. Considering Amazon has global scale, these cost reductions could theoretically expand profitability in e-commerce operations by billions in the long run.</p>
<div class="lb-trans"><p>根据 <strong>摩根士丹利</strong> 的最新分析，机器人可以帮助单个仓库降低 25% 的成本。考虑到 Amazon 的全球规模，这些成本降低理论上可以在长期内使电子商务运营的盈利能力增加数十亿美元。</p>
</div><p>Regarding its cloud business, Amazon has invested $8 billion into a start-up called Anthropic over the last couple of years. Anthropic's services have been swiftly integrated into Amazon Web Services (AWS), and its impact on the business' sales and profitability are already quite significant.</p>
<div class="lb-trans"><p>在云业务方面，Amazon 在过去几年中向一家名为 Anthropic 的初创公司投资了 80 亿美元。Anthropic 的服务已迅速整合到 Amazon Web Services (AWS) 中，其对业务销售和盈利能力的影响已经相当显著。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F824483%2Fscreenshot-2025-07-09-150646.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Amazon Investor Relations.</p>
<div class="lb-trans"><p>图片来源：Amazon 投资者关系。</p>
</div><h2>Why Amazon's valuation looks poised to expand more than Nvidia or Microsoft in the long run</h2>
<div class="lb-trans"><h2>为什么 Amazon 的估值在长期内看起来更有可能扩张超过 Nvidia 或 Microsoft</h2>
</div><p>For much of the last couple of years, Nvidia's graphics processing units (GPUs) have been considered the gold standard for generative AI development. And while many of the Magnificent Seven companies are Nvidia's largest customers today, these dynamics may shift in coming years.</p>
<div class="lb-trans"><p>在过去的几年中，Nvidia 的图形处理单元 (GPU) 一直被认为是生成 AI 开发的黄金标准。尽管许多七大巨头公司今天是 Nvidia 的最大客户，但这些动态在未来几年可能会发生变化。</p>
</div><p>Although Nvidia and Microsoft are valued at premiums right now, I think both companies could struggle to fend off competition in the chip and cloud arenas.</p>
<div class="lb-trans"><p>尽管 Nvidia 和 Microsoft 目前的估值较高，但我认为这两家公司可能会在芯片和云领域面临竞争压力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png" alt="" original-src="https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png"/></p>
<p>AMZN PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>AMZN 市盈率（前瞻性）数据来自 YCharts</p>
</div><p>Microsoft's partnership with OpenAI may not be as lucrative as it once was, given the ChatGPT maker has been exploring partnership opportunities with <strong>Alphabet</strong> and <strong>Oracle</strong> as of late.</p>
<div class="lb-trans"><p>考虑到 ChatGPT 制造商最近一直在探索与 <strong>Alphabet</strong> 和 <strong>Oracle</strong> 的合作机会，Microsoft 与 OpenAI 的合作可能不再像以前那样有利可图。</p>
</div><p>In addition, Amazon, Microsoft, and Alphabet are all investing significant capital in their own custom silicon development. Moreover, <strong>Advanced Micro Devices</strong> has built formidable data center and AI chip businesses that compete directly with Nvidia.</p>
<div class="lb-trans"><p>此外，Amazon、Microsoft 和 Alphabet 都在为自己的定制硅开发投入大量资本。此外，<strong>超微半导体</strong> 已建立起强大的数据中心和 AI 芯片业务，直接与 Nvidia 竞争。</p>
</div><p>Amazon appears to be witnessing a degree of expansion based on the forward price-to-earnings (P/E) trends pictured above. To me, this signals that investors may finally be understanding that Amazon is uniquely positioned to further monetize its various service offerings by augmenting its ecosystem with AI.</p>
<div class="lb-trans"><p>根据上面所示的前瞻市盈率 (P/E) 趋势，Amazon 似乎正在经历一定程度的扩张。在我看来，这表明投资者可能终于意识到 Amazon 在通过 AI 增强其生态系统方面具有独特的优势，从而进一步实现其各种服务的货币化。</p>
</div><p>Hence, the company's market cap could rise considerably relative to its peers in the following years as AI becomes the core pillar supporting Amazon's transformation.</p>
<div class="lb-trans"><p>因此，随着 AI 成为支持 Amazon 转型的核心支柱，该公司的市值在未来几年可能相对于其同行大幅上升。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F824483%2Fgettyimages-1130785719.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>Is Amazon stock a buy right now?</h2>
<div class="lb-trans"><h2>现在 Amazon 股票值得买吗？</h2>
</div><p>Although Amazon stock isn't a bargain now, I still see it as a compelling buy-and-hold opportunity for long-term investors. I do not think the upside that AI carries has been fully baked into the stock price, despite some noticeable expansion in recent months.</p>
<div class="lb-trans"><p>尽管 Amazon 股票现在并不便宜，但我仍然认为它是长期投资者一个引人注目的买入和持有机会。我认为 AI 带来的上行潜力尚未完全反映在股价中，尽管最近几个月有所扩张。</p>
</div><p>Considering the long-term accretive impacts AI could generate for Amazon's core e-commerce and cloud businesses, I think the company is in the early phases of a new growth chapter featuring accelerating revenue and profits for years to come.</p>
<div class="lb-trans"><p>考虑到 AI 可能为 Amazon 的核心电子商务和云业务带来的长期增值影响，我认为该公司正处于一个新的增长阶段，未来几年将实现收入和利润的加速增长。</p>
</div><p>For this reason, I think investors could continue valuing Amazon at a premium relative to its peers and see the company emerging as the most valuable business in the world over its AI peers by early the next decade.</p>
<div class="lb-trans"><p>因此，我认为投资者可能会继续以溢价评估 Amazon，相较于其 AI 竞争对手，预计该公司将在下一个十年初成为全球最有价值的企业。</p>
</div>

Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Be the Most Valuable Company in the World by 2030 (Hint: It's Not Nvidia or Microsoft)

- 亚马逊在电商和云计算领域利用 AI 促进增长，预计未来五年估值将显著提升。  
- 机器人技术可降低亚马逊仓库成本 25%，提升电商盈利能力。  
- 投资者对亚马逊的长期增长潜力持乐观态度，可能使其市值超越竞争对手。  

预测：这家出色的人工智能（AI）公司股票将在 2030 年成为全球最有价值的公司（提示：它不是英伟达或微软）