<p>市场上有几只受欢迎的人工智能（AI）股票，我认为目前投资价值不高。其中之一是 <strong>Palantir</strong>（PLTR 5.11%），在过去几年中表现出色。其他的有 <strong>C3.ai</strong>（AI 4.67%）和 <strong>BigBear.ai</strong>（BBAI 4.40%）。</p>
<p>我有充分的理由认为投资者应该避开这三只股票，因为将资金投入其他地方可以帮助你避免未来的巨大损失。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>Palantir</h2>
<p>Palantir 的股票经历了不可思议的上涨。自 2023 年以来上涨了 2570%，自 2024 年以来上涨了 900%，今年上涨了 126%。面对这样的增长，投资者可能会认为我建议避开它是因为它已经失去动力，但事实并非如此。</p>
<p>Palantir 的表现非常出色，其收入增长正在迅速加速。在第二季度，公司整体收入同比增长 48%，而第一季度为 39%。我相信 Palantir 将继续快速增长，并在 AI 竞争中保持领先地位。</p>
<p>如果我认为它会成为顶尖公司，为什么我对这只股票不看好呢？这完全归结于估值。</p>
<p>尽管 Palantir 的股票自 2023 年以来上涨了 2570%，但其收入仅增长了 80%。这之间存在巨大的不匹配，表明该股票的大部分涨幅是通过估值的提升实现的。查看其估值也支持这一分析，因为它的前瞻性市盈率高达 267 倍，销售额的市销率为 126 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.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/3b603406f15bbc47eff60b135131d54e.png"/></p>
<p>PLTR 前瞻性市盈率数据来源于 YCharts</p>
<p>这些估值水平是很少有公司能够达到的，而且没有公司能够持续保持。Palantir 要么需要成长到这些估值（导致股价持平），要么大幅下跌以在更合理的水平交易。</p>
<p>以 <strong>Nvidia</strong> 为例。尽管它连续多个季度实现了同比收入增长，但其市销率或前瞻性市盈率从未超过 50 倍。Palantir 的增长速度远低于此，但其估值却远高于 Nvidia 曾经的水平。</p>
<p>无论发生什么，我预计 Palantir 的股票在未来几年将保持平稳，即使公司保持强劲的增长率。Palantir 的股票中已经包含了多年的增长，投资者明智的做法是将部分收益取出，投资于其他估值更合理的公司。</p>
<h2>BigBear.ai 和 C3.ai</h2>
<p>我们正处于人工智能的黄金时代，任何与这一趋势相关的公司都应该表现良好。然而，这两家公司并非如此。</p>
<p>这两家公司都在挣扎，实际上在过去一个季度的收入出现了下降。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.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/5d97694a07709be9fef04551c5dc9e2b.png"/></p>
<p>BBAI 收入（季度同比增长）数据来源于 YCharts</p>
<p>考虑到几乎每个美国企业对 AI 的高需求，至少实现正收入增长应该不难。由于这两家公司都出现了负增长，很明显它们各自的竞争对手提供了更好的产品和服务，可能正在吸引客户离开这两家公司。</p>
<p>如果这两家公司在市场条件最佳时都无法实现收入增长，那么五年后，当巨大的 AI 支出热潮可能结束时，会发生什么呢？这两家公司不值得你花时间，如果你持有它们，我建议考虑出售股票，转向更具吸引力的投资。</p>
<p>市场上有很多有前景的 AI 公司可供投资，而这三家公司不在其中。此外，还有几只已经持有一些顶尖 AI 公司的 AI 交易所交易基金（ETF），这可能是另一个不错的投资选择。</p>

BBAI

PLTR

<p>这篇文章讨论了三只应避免的人工智能股票：Palantir、C3.ai 和 BigBear.ai。尽管 Palantir 的股票表现令人印象深刻，但其估值被认为不可持续，当前的交易价格为前瞻性收益的 267 倍。C3.ai 和 BigBear.ai 正面临收入下降的问题，表明它们正在失去市场份额。作者建议投资者考虑将资金重新分配到估值更合理的人工智能公司或 ETF，因为这三只股票可能无法提供未来的增长机会</p>

<p>There are several popular artificial intelligence (AI) stocks on the market that I believe are currently poor investments. One of them is <strong>Palantir</strong>(PLTR 5.11%), which has been one of the best-performing stocks over the past few years. The others are <strong>C3.ai</strong>(AI 4.67%) and <strong>BigBear.ai</strong>(BBAI 4.40%).</p>
<div class="lb-trans"><p>市场上有几只受欢迎的人工智能（AI）股票，我认为目前投资价值不高。其中之一是 <strong>Palantir</strong>（PLTR 5.11%），在过去几年中表现出色。其他的有 <strong>C3.ai</strong>（AI 4.67%）和 <strong>BigBear.ai</strong>（BBAI 4.40%）。</p>
</div><p>I have solid reasons why investors should steer clear of this trio, as investing your money elsewhere can save you from a massive future loss.</p>
<div class="lb-trans"><p>我有充分的理由认为投资者应该避开这三只股票，因为将资金投入其他地方可以帮助你避免未来的巨大损失。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832868%2Fperson-regretful-in-front-of-a-computer.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>Palantir</h2>
<div class="lb-trans"><h2>Palantir</h2>
</div><p>Palantir's stock has been on an unbelievable run. It's up 2,570% since 2023, 900% since 2024, and 126% this year. With that kind of growth, investors may think I'm advocating for avoiding it because it's run out of steam, but that's not the case at all.</p>
<div class="lb-trans"><p>Palantir 的股票经历了不可思议的上涨。自 2023 年以来上涨了 2570%，自 2024 年以来上涨了 900%，今年上涨了 126%。面对这样的增长，投资者可能会认为我建议避开它是因为它已经失去动力，但事实并非如此。</p>
</div><p>Palantir is performing exceptionally well, and its revenue growth is accelerating rapidly. In Q2, companywide revenue rose 48% compared to 39% growth in Q1. I believe Palantir will continue to grow rapidly and remain among the best-performing <em>companies</em> in the AI arms race.</p>
<div class="lb-trans"><p>Palantir 的表现非常出色，其收入增长正在迅速加速。在第二季度，公司整体收入同比增长 48%，而第一季度为 39%。我相信 Palantir 将继续快速增长，并在 AI 竞争中保持领先地位。</p>
</div><p>If I think it will be a top-performing company, why am I not bullish on the stock? It all comes down to valuation.</p>
<div class="lb-trans"><p>如果我认为它会成为顶尖公司，为什么我对这只股票不看好呢？这完全归结于估值。</p>
</div><p>Even though Palantir's stock has increased by 2,570% since 2023, its revenue has risen by only 80%. That's a huge mismatch, indicating that the stock has achieved most of its gains through an increase in its valuation. Looking at its valuation supports this analysis, as it trades for a jaw-dropping 267 times forward earnings and 126 times sales.</p>
<div class="lb-trans"><p>尽管 Palantir 的股票自 2023 年以来上涨了 2570%，但其收入仅增长了 80%。这之间存在巨大的不匹配，表明该股票的大部分涨幅是通过估值的提升实现的。查看其估值也支持这一分析，因为它的前瞻性市盈率高达 267 倍，销售额的市销率为 126 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.png" alt="" original-src="https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.png"/></p>
<p>PLTR PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>PLTR 前瞻性市盈率数据来源于 YCharts</p>
</div><p>Those are valuation levels that few companies ever achieve and no company sustains. Palantir will either need to grow into those valuations (resulting in a flat stock price) or fall dramatically to trade at a more reasonable level.</p>
<div class="lb-trans"><p>这些估值水平是很少有公司能够达到的，而且没有公司能够持续保持。Palantir 要么需要成长到这些估值（导致股价持平），要么大幅下跌以在更合理的水平交易。</p>
</div><p>Take <strong>Nvidia</strong>, for example. Despite multiple quarters in a row where it rippled its revenue year over year, it never traded for more than 50 times sales or forward earnings. Palantir is growing much slower than that, yet it has attained a valuation far higher than Nvidia ever did.</p>
<div class="lb-trans"><p>以 <strong>Nvidia</strong> 为例。尽管它连续多个季度实现了同比收入增长，但其市销率或前瞻性市盈率从未超过 50 倍。Palantir 的增长速度远低于此，但其估值却远高于 Nvidia 曾经的水平。</p>
</div><p>Regardless of what happens, I'd expect Palantir's stock to be flat over the next few years, even if the company maintains a strong growth rate. There are years of growth already baked into Palantir's stock, and investors would be wise to take some of those gains and invest in other, more reasonably valued companies.</p>
<div class="lb-trans"><p>无论发生什么，我预计 Palantir 的股票在未来几年将保持平稳，即使公司保持强劲的增长率。Palantir 的股票中已经包含了多年的增长，投资者明智的做法是将部分收益取出，投资于其他估值更合理的公司。</p>
</div><h2>BigBear.ai and C3.ai</h2>
<div class="lb-trans"><h2>BigBear.ai 和 C3.ai</h2>
</div><p>We're in the golden age of AI, and any company associated with the trend should be doing well. However, that's not the case with these two.</p>
<div class="lb-trans"><p>我们正处于人工智能的黄金时代，任何与这一趋势相关的公司都应该表现良好。然而，这两家公司并非如此。</p>
</div><p>Both companies are struggling, and actually delivered falling revenue in the past quarter.</p>
<div class="lb-trans"><p>这两家公司都在挣扎，实际上在过去一个季度的收入出现了下降。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.png" alt="" original-src="https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.png"/></p>
<p>BBAI Revenue (Quarterly YoY Growth) data by YCharts</p>
<div class="lb-trans"><p>BBAI 收入（季度同比增长）数据来源于 YCharts</p>
</div><p>Given the high demand for AI by nearly every business in the U.S., it shouldn't be difficult to achieve at least positive revenue growth. Since both have negative growth, it's fairly obvious that their respective competitors offer better products and services, and are likely attracting clients away from these two.</p>
<div class="lb-trans"><p>考虑到几乎每个美国企业对 AI 的高需求，至少实现正收入增长应该不难。由于这两家公司都出现了负增长，很明显它们各自的竞争对手提供了更好的产品和服务，可能正在吸引客户离开这两家公司。</p>
</div><p>If these two can't grow revenue right now when market conditions are optimal, what will happen five years later when the massive AI spending boom is potentially complete? These two aren't worth your time, and if you have them, I'd consider selling shares to move to more attractive investments.</p>
<div class="lb-trans"><p>如果这两家公司在市场条件最佳时都无法实现收入增长，那么五年后，当巨大的 AI 支出热潮可能结束时，会发生什么呢？这两家公司不值得你花时间，如果你持有它们，我建议考虑出售股票，转向更具吸引力的投资。</p>
</div><p>There are plenty of promising AI companies available to invest in, and these three are not among them. There are also several AI exchange-traded funds (ETFs) that already hold some of the top AI companies, which could be another solid investment option.</p>
<div class="lb-trans"><p>市场上有很多有前景的 AI 公司可供投资，而这三家公司不在其中。此外，还有几只已经持有一些顶尖 AI 公司的 AI 交易所交易基金（ETF），这可能是另一个不错的投资选择。</p>
</div>

3 Popular Artificial Intelligence (AI) Stocks to Steer Clear Of. (Hint: One of Them Is Palantir)

- 文章认为 Palantir、C3.ai 和 BigBear.ai 是不值得投资的 AI 股票。  
- Palantir 尽管收入增长加速，但估值过高，未来股价可能平稳。  
- C3.ai 和 BigBear.ai 面临收入下滑，竞争力不足，建议投资者考虑其他选择。

三只热门人工智能（AI）股票需要规避。（提示：其中之一是 Palantir Tech）