<p><strong>英伟达</strong>(NVDA -2.62%) 在当前的人工智能军备竞赛中一直是最值得投资的股票之一。然而，在其表现出色之后，一些投资者可能对现在购买股票感到犹豫，尤其是考虑到它作为全球最大公司的地位。</p>
<p>人工智能军备竞赛远未结束，预计未来几年人工智能支出将保持强劲，因此英伟达无疑看起来是一个很好的购买选择。但它现在是_最好的_股票吗？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzNDMvbnZpZGlhLXZveWFnZXItaGVhZHF1YXJ0ZXJzLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzNDMvbnZpZGlhLXZveWFnZXItaGVhZHF1YXJ0ZXJzLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>英伟达的增长令人惊叹，但还未结束</h2>
<p>英伟达制造图形处理单元（GPU），这是一种可以并行执行多项计算的计算单元。GPU 已成为大多数人工智能超大规模计算公司首选的主要计算设备，因为它们还可以以集群方式连接以增强这一效果。听说数据中心中有 100,000 个或更多 GPU 并不罕见，而英伟达在市场上占据主导地位（大多数估计认为英伟达的数据中心 GPU 市场份额在 90% 或更高），这转化为英伟达的巨额销售。</p>
<p>英伟达过去几年的收入增长惊人，尽管在过去几个季度有所放缓。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c134f700f0f998a23e2f4923cbbf7d51.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="456" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c134f700f0f998a23e2f4923cbbf7d51.png"/></p>
<p>NVDA 收入（TTM）数据来自 YCharts</p>
<p>尽管如此，56% 的收入增长率也不容小觑。这比许多公司所能实现的增长速度要快得多，而英伟达却能定期实现这一点。此外，考虑到管理层对市场轨迹的预测，英伟达的快速增长率可能会在很长一段时间内保持高位。</p>
<h2>如果管理层的预测成真，英伟达可能是现在最值得购买的股票</h2>
<p>围绕英伟达的最大问题并不是它是否能维持其主导地位，而是人工智能超大规模计算公司是否能继续增加其人工智能基础设施支出。今年的数据中心资本支出已经创下纪录，但许多人工智能超大规模计算公司已经告诉投资者，预计在 2026 年会有更大的支出。</p>
<p>这与英伟达管理层在其第二季度电话会议上告诉投资者的内容一致，他们预测到 2030 年全球数据中心资本支出将达到 3 万亿到 4 万亿美元。考虑到英伟达估计四大人工智能超大规模计算公司到 2030 年将支出约 6000 亿美元，这将是巨大的增长。</p>
<p>华尔街预计英伟达到 2026 财年（截至 2026 年 1 月）将产生约 2060 亿美元的收入，因此英伟达大约占所有数据中心资本支出成本的三分之一。根据这个逻辑，英伟达_可能_在 2030 年产生 1 万亿到 1.3 万亿美元的收入。</p>
<p>这将表明最低的年复合增长率（CAGR）为 37%，这是在如此长的时间框架内维持的令人印象深刻的增长率。如果英伟达能做到这一点，毫无疑问，它将是现在市场上最值得购买的股票。</p>
<p>然而，我认为将一些保守的预期融入这些估计是明智的。假设市场机会是管理层预测的一半：1.5 万亿美元。考虑到英伟达拥有三分之一的市场份额，其年复合增长率仍将为 19%，这显著高于更广泛市场通常看到的 10% 增长率。即使实现这一增长率，英伟达仍然是现在值得购买的绝佳股票，尽管它可能不是_最好的_。</p>
<p>只要人工智能基础设施支出保持高位，英伟达就是市场上值得购买的顶级股票。英伟达的管理层认为这一趋势将在 2030 年及以后继续，通过现在购买，投资者仍然可以从全球最具主导性的公司之一中获得巨额利润。</p>

英伟达

2 倍做多英伟达 ETF - GraniteShares

南方两倍做多英伟达

南方两倍做空英伟达

英伟达期权收益策略 ETF - YieldMax

1 倍做空英伟达 ETF - Direxion

2 倍做多 NVDA ETF - T-Rex

2 倍做空 NVDA ETF - T-Rex

半导体 3 倍做多 - Direxion

<p>英伟达（Nvidia，NVDA）在人工智能市场中依然是一个强有力的竞争者，数据中心 GPU 的市场份额高达 90%。尽管最近出现放缓，其收入增长仍然令人印象深刻，达到 56%。预测显示，到 2030 年，英伟达的收入可能达到 1 万亿到 1.3 万亿美元，表明年均增长率（CAGR）为 37%。即使在保守估计下，19% 的年均增长率仍然显著高于市场平均水平。只要人工智能基础设施支出保持高位，英伟达将是一个值得考虑的投资股票</p>

<p><strong>Nvidia</strong>(NVDA -2.62%) has been one of the best stocks to own during the ongoing AI arms race. However, after its impressive run, some investors may be hesitant about buying shares now, especially with its status as the world's largest company.</p>
<div class="lb-trans"><p><strong>英伟达</strong>(NVDA -2.62%) 在当前的人工智能军备竞赛中一直是最值得投资的股票之一。然而，在其表现出色之后，一些投资者可能对现在购买股票感到犹豫，尤其是考虑到它作为全球最大公司的地位。</p>
</div><p>The AI arms race is far from over, and with AI spending expected to stay strong for many years to come, Nvidia certainly looks like a great buy. But is it <em>the best</em> stock to buy now?</p>
<div class="lb-trans"><p>人工智能军备竞赛远未结束，预计未来几年人工智能支出将保持强劲，因此英伟达无疑看起来是一个很好的购买选择。但它现在是_最好的_股票吗？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMzNDMvbnZpZGlhLXZveWFnZXItaGVhZHF1YXJ0ZXJzLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833343%2Fnvidia-voyager-headquarters.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 growth has been incredible, but it's not done yet</h2>
<div class="lb-trans"><h2>英伟达的增长令人惊叹，但还未结束</h2>
</div><p>Nvidia manufactures graphics processing units (GPUs), a computing unit that can perform multiple calculations in parallel. GPUs have been the primary computing device of choice for most AI hyperscalers, as they can also be connected in clusters to amplify this effect. It's not uncommon to hear about data centers with 100,000 or more GPUs in them, and with Nvidia having a dominant market share (most estimates peg Nvidia's data center GPU market share at 90% or greater), it translates into a ton of sales for Nvidia.</p>
<div class="lb-trans"><p>英伟达制造图形处理单元（GPU），这是一种可以并行执行多项计算的计算单元。GPU 已成为大多数人工智能超大规模计算公司首选的主要计算设备，因为它们还可以以集群方式连接以增强这一效果。听说数据中心中有 100,000 个或更多 GPU 并不罕见，而英伟达在市场上占据主导地位（大多数估计认为英伟达的数据中心 GPU 市场份额在 90% 或更高），这转化为英伟达的巨额销售。</p>
</div><p>Nvidia's revenue growth over the past few years has been astronomical, although it has slowed a bit over the past few quarters.</p>
<div class="lb-trans"><p>英伟达过去几年的收入增长惊人，尽管在过去几个季度有所放缓。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/c134f700f0f998a23e2f4923cbbf7d51.png" alt="" original-src="https://media.ycharts.com/charts/c134f700f0f998a23e2f4923cbbf7d51.png"/></p>
<p>NVDA Revenue (TTM) data by YCharts</p>
<div class="lb-trans"><p>NVDA 收入（TTM）数据来自 YCharts</p>
</div><p>Still, a 56% revenue growth rate is nothing to complain about. That's faster than many companies will ever grow, yet Nvidia achieves this regularly. Furthermore, with management's market trajectory projections, Nvidia's rapid growth rate may stay elevated for a long time.</p>
<div class="lb-trans"><p>尽管如此，56% 的收入增长率也不容小觑。这比许多公司所能实现的增长速度要快得多，而英伟达却能定期实现这一点。此外，考虑到管理层对市场轨迹的预测，英伟达的快速增长率可能会在很长一段时间内保持高位。</p>
</div><h2>If management's projections pan out, Nvidia could be the best stock to buy right now</h2>
<div class="lb-trans"><h2>如果管理层的预测成真，英伟达可能是现在最值得购买的股票</h2>
</div><p>The biggest question surrounding Nvidia isn't really if it can maintain its dominance; it's if the AI hyperscalers can continue growing their AI infrastructure spending. This has already been a record year for data center capital expenditures, but many of the AI hyperscalers have already told investors to expect even greater spending in 2026.</p>
<div class="lb-trans"><p>围绕英伟达的最大问题并不是它是否能维持其主导地位，而是人工智能超大规模计算公司是否能继续增加其人工智能基础设施支出。今年的数据中心资本支出已经创下纪录，但许多人工智能超大规模计算公司已经告诉投资者，预计在 2026 年会有更大的支出。</p>
</div><p>This aligns with what Nvidia's management told investors during its Q2 conference call, as it projects that worldwide data center capital expenditures will reach $3 trillion to $4 trillion by 2030. Considering that Nvidia estimates that the big four AI hyperscalers will spend around $600 billion by 2030, that's monster growth.</p>
<div class="lb-trans"><p>这与英伟达管理层在其第二季度电话会议上告诉投资者的内容一致，他们预测到 2030 年全球数据中心资本支出将达到 3 万亿到 4 万亿美元。考虑到英伟达估计四大人工智能超大规模计算公司到 2030 年将支出约 6000 亿美元，这将是巨大的增长。</p>
</div><p>Wall Street estimates that Nvidia will generate around $206 billion by fiscal year 2026 (ending January 2026), so Nvidia gets approximately a third of all data center capital expenditure costs. By using that logic, Nvidia <em>could</em> be generating $1 trillion to $1.3 trillion in revenue by 2030.</p>
<div class="lb-trans"><p>华尔街预计英伟达到 2026 财年（截至 2026 年 1 月）将产生约 2060 亿美元的收入，因此英伟达大约占所有数据中心资本支出成本的三分之一。根据这个逻辑，英伟达_可能_在 2030 年产生 1 万亿到 1.3 万亿美元的收入。</p>
</div><p>That would indicate a compounded annual growth rate (CAGR) of 37% on the low end, which is an incredibly impressive growth rate to sustain for such a time frame. If Nvidia can do that, there's no doubt that it would be the best stock in the market to buy right now.</p>
<div class="lb-trans"><p>这将表明最低的年复合增长率（CAGR）为 37%，这是在如此长的时间框架内维持的令人印象深刻的增长率。如果英伟达能做到这一点，毫无疑问，它将是现在市场上最值得购买的股票。</p>
</div><p>However, I think it's smart to bake a bit of conservatism into these estimates. Let's say the market opportunity is half of what management projects: $1.5 trillion. With Nvidia having a one-third market share, its CAGR would still be 19%, which is significantly higher than the 10% growth rate typically seen in the broader market. This growth rate would still make Nvidia a fantastic stock to buy now, although it may not be <em>the best</em> if it achieves that growth rate.</p>
<div class="lb-trans"><p>然而，我认为将一些保守的预期融入这些估计是明智的。假设市场机会是管理层预测的一半：1.5 万亿美元。考虑到英伟达拥有三分之一的市场份额，其年复合增长率仍将为 19%，这显著高于更广泛市场通常看到的 10% 增长率。即使实现这一增长率，英伟达仍然是现在值得购买的绝佳股票，尽管它可能不是_最好的_。</p>
</div><p>Nvidia is a top stock to buy in the market as long as AI infrastructure spending stays elevated. Nvidia's management believes that trend is still slated to continue through 2030 and beyond, and by buying now, investors can still make a massive profit from one of the world's most dominant companies.</p>
<div class="lb-trans"><p>只要人工智能基础设施支出保持高位，英伟达就是市场上值得购买的顶级股票。英伟达的管理层认为这一趋势将在 2030 年及以后继续，通过现在购买，投资者仍然可以从全球最具主导性的公司之一中获得巨额利润。</p>
</div>

Is Nvidia Stock the Best Buy Now?

- Nvidia 在 AI 竞争中表现出色，市场份额超过 90%。  
- 预计到 2030 年，全球数据中心资本支出将达 3 至 4 万亿美元。  
- Nvidia 的年复合增长率可能达到 37%，仍是值得投资的股票。  

英伟达的股票现在是否是最佳购买选择？