<p>人工智能（AI）是企业在 21 世纪竞争的必备技术。它承诺降低成本，加快产品开发，并自动化任务。这就是为什么预计未来五年在 AI 基础设施上的支出将达到数万亿的原因。</p>
<p>以下公司提供 AI 所需的关键芯片和服务器。这就是为什么投资者在这些股票中至少可以在本十年末实现资金翻倍的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>1. 博通</h2>
<p>未来五年，数据中心的支出预计将显著增加。数据中心需要数千个芯片、数英里电缆和监控性能的软件。<strong>博通</strong>（AVGO -1.57%）为多个市场提供芯片和网络产品，但其数据中心业务正在迅速增长。该股票今年迄今已上涨 48%，仍有上涨空间。</p>
<p>博通是一家管理良好的企业，在过去 10 年中为股东提供了 2500% 的累计回报。在最近一个季度，它报告了 22% 的年同比收入增长。在过去 10 年中，其收入和每股收益以 28% 的复合年增长率增长。</p>
<p>这种持续增长基于博通在其运营市场的领导地位。管理层专注于高利润产品，这些产品提供了良好的增长前景。AI 芯片目前推动了公司大部分的增长，上个季度 AI 收入同比增长 63%。</p>
<p>更多的数据中心将被建设，这进一步扩大了博通网络产品的可寻址市场。数据中心将需要更多的交换机、路由器和以太网电缆，以连接数百个计算机机架。博通凭借其 Tomahawk 6 和 Jericho 以太网交换机，能够满足这一需求，这些交换机提供高数据传输速度，且延迟和功耗低。</p>
<p>分析师预计，博通的调整后每股收益将在 2029 财年（截至 10 月）以 32% 的年化率增长。考虑到这些高预期，该股票目前的交易倍数为 51 倍，这是过去三年中最高的倍数。假设到 2029 年该股票的前瞻性收益倍数为 40 倍，则根据共识预期，股价将达到 792 美元。投资者仍然可以从博通当前的股价中实现资金翻倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>2. 戴尔科技</h2>
<p><strong>戴尔科技</strong>（DELL 2.84%）并没有受到太多关注，但这正是该股票可能被低估的原因。戴尔是服务器的第一供应商。其 AI 优化服务器的需求非常旺盛，使得该股票在未来五年内有潜力翻倍，甚至更快。</p>
<p>服务器的需求正在飙升。IDC 估计，2024 年服务器支出增长了 73%。预计市场在 2029 年前将以 16% 的复合增长率增长。戴尔只需保持其市场份额领先，就能将其服务器业务翻倍，并可能使股东的投资翻倍。</p>
<p>根据彭博情报，AI 服务器市场预计在 2025 年将增长 55%。戴尔上个季度总收入同比增长 19%，主要是由于 AI 服务器市场的强劲需求。</p>
<p>戴尔大部分收入（56%）来自基础设施解决方案（服务器），其余来自客户端解决方案（个人电脑和外设）。戴尔的个人电脑业务在此时几乎被忽视，因为其基础设施收入在上个季度同比增长了 44%。</p>
<p>戴尔表示，今年上半年发货的 AI 解决方案数量超过了去年全年的总量。尽管服务器市场竞争激烈且利润较低，但戴尔的竞争优势在于其在全球范围内为大型客户销售的庞大销售团队、为企业提供定制解决方案的能力以及快速的市场响应。</p>
<p>随着服务器业务的蓬勃发展，戴尔不需要在个人电脑业务上看到太多增长，投资者就能获得良好的回报。这是一个完全依赖服务器增长的故事。分析师预计，戴尔的调整后每股收益将在 2030 财年（截至 1 月）以 13% 的年化率增长，达到 14.94 美元。</p>
<p>该股票目前的前瞻市盈率为 14。如果在五年内能达到 20 倍的前瞻市盈率，该股票将以每股 300 美元交易，意味着从当前 133 美元的股价上涨 125%。考虑到对 AI 机会的日益看好，该股票应该能获得更高的市盈率，并为戴尔投资者带来超越市场的回报。</p>

博通

戴尔科技-C

<p>这篇文章讨论了两只人工智能股票——博通和戴尔科技，它们预计到 2030 年将实现显著增长。博通预计将受益于数据中心支出的增加，预计每股收益年增长 32%。作为领先的服务器供应商，戴尔也因对人工智能优化服务器的需求激增而有望将其投资潜力翻倍，预计每股收益年增长 13%。这两家公司都处于有利位置，可以利用蓬勃发展的人工智能市场，使其成为有吸引力的投资机会</p>

<p>Artificial intelligence (AI) is a must-have technology for businesses to compete in the 21st century. It promises to lower costs, speed up product development, and automate tasks. This is why spending on AI infrastructure is expected to reach into the trillions in the next five years.</p>
<div class="lb-trans"><p>人工智能（AI）是企业在 21 世纪竞争的必备技术。它承诺降低成本，加快产品开发，并自动化任务。这就是为什么预计未来五年在 AI 基础设施上的支出将达到数万亿的原因。</p>
</div><p>The following companies provide the essential chips and servers for AI. Here's why investors could at least double their money in these stocks through the end of the decade.</p>
<div class="lb-trans"><p>以下公司提供 AI 所需的关键芯片和服务器。这就是为什么投资者在这些股票中至少可以在本十年末实现资金翻倍的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833000%2Fstock-market-graph-and-currency.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>1. Broadcom</h2>
<div class="lb-trans"><h2>1. 博通</h2>
</div><p>The next five years are likely to see a significant ramp in spending for data centers. Data centers require thousands of chips, miles of cables, and software to monitor performance. <strong>Broadcom</strong>(AVGO -1.57%) supplies chips and networking products for a range of markets, but its data center business is exploding. The stock is up 48% year to date with room to run.</p>
<div class="lb-trans"><p>未来五年，数据中心的支出预计将显著增加。数据中心需要数千个芯片、数英里电缆和监控性能的软件。<strong>博通</strong>（AVGO -1.57%）为多个市场提供芯片和网络产品，但其数据中心业务正在迅速增长。该股票今年迄今已上涨 48%，仍有上涨空间。</p>
</div><p>Broadcom is a well-managed business that has delivered a 2,500% cumulative return to shareholders over the last 10 years. In the most recent quarter, it reported a 22% year-over-year increase in revenue. Its revenue and earnings per share have grown at a compound annual rate of 28% over the last 10 years.</p>
<div class="lb-trans"><p>博通是一家管理良好的企业，在过去 10 年中为股东提供了 2500% 的累计回报。在最近一个季度，它报告了 22% 的年同比收入增长。在过去 10 年中，其收入和每股收益以 28% 的复合年增长率增长。</p>
</div><p>This consistent growth is based on Broadcom's leadership in the markets where it operates. Management focuses on high-margin products that offer attractive growth prospects. AI chips are driving most of the company's growth right now, with AI revenue up 63% year over year last quarter.</p>
<div class="lb-trans"><p>这种持续增长基于博通在其运营市场的领导地位。管理层专注于高利润产品，这些产品提供了良好的增长前景。AI 芯片目前推动了公司大部分的增长，上个季度 AI 收入同比增长 63%。</p>
</div><p>More data centers will get built, which just extends the addressable market for Broadcom's networking products. Data centers will need more switches, routers, and Ethernet cables to connect hundreds of computing racks. Broadcom is well-positioned to meet this demand with its Tomahawk 6 and Jericho Ethernet switches, which deliver high data transfer speeds with low latency and power requirements.</p>
<div class="lb-trans"><p>更多的数据中心将被建设，这进一步扩大了博通网络产品的可寻址市场。数据中心将需要更多的交换机、路由器和以太网电缆，以连接数百个计算机机架。博通凭借其 Tomahawk 6 和 Jericho 以太网交换机，能够满足这一需求，这些交换机提供高数据传输速度，且延迟和功耗低。</p>
</div><p>Analysts expect Broadcom's adjusted earnings per share to grow at an annualized rate of 32% through fiscal 2029 (which ends in October). Given those high expectations, the stock is trading at 51 times this year's earnings estimate -- the highest multiple it has traded at over the last three years. Assuming the stock is trading at 40 times forward earnings in 2029, the share price would be $792 based on the consensus estimate. Investors can still double their money from Broadcom's current share price.</p>
<div class="lb-trans"><p>分析师预计，博通的调整后每股收益将在 2029 财年（截至 10 月）以 32% 的年化率增长。考虑到这些高预期，该股票目前的交易倍数为 51 倍，这是过去三年中最高的倍数。假设到 2029 年该股票的前瞻性收益倍数为 40 倍，则根据共识预期，股价将达到 792 美元。投资者仍然可以从博通当前的股价中实现资金翻倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833000%2Fdata-server.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>2. Dell Technologies</h2>
<div class="lb-trans"><h2>2. 戴尔科技</h2>
</div><p><strong>Dell Technologies</strong>(DELL 2.84%) doesn't get a lot of attention, but that's why the stock could be undervalued. Dell is the No. 1 supplier of servers. Demand for its AI-optimized servers is red hot, positioning the stock to potentially double within the next five years, if not sooner.</p>
<div class="lb-trans"><p><strong>戴尔科技</strong>（DELL 2.84%）并没有受到太多关注，但这正是该股票可能被低估的原因。戴尔是服务器的第一供应商。其 AI 优化服务器的需求非常旺盛，使得该股票在未来五年内有潜力翻倍，甚至更快。</p>
</div><p>Demand for servers is soaring. IDC estimates that spending on servers grew 73% in 2024. The market is expected to grow at a compound rate of 16% through 2029. All Dell would need to do is hold its market share lead to double its server business, and potentially double shareholders' investment.</p>
<div class="lb-trans"><p>服务器的需求正在飙升。IDC 估计，2024 年服务器支出增长了 73%。预计市场在 2029 年前将以 16% 的复合增长率增长。戴尔只需保持其市场份额领先，就能将其服务器业务翻倍，并可能使股东的投资翻倍。</p>
</div><p>The AI server market specifically is estimated to grow 55% in 2025, according to Bloomberg Intelligence. Dell's 19% year-over-year increase in total revenue last quarter was primarily driven by the strong demand in the AI server market.</p>
<div class="lb-trans"><p>根据彭博情报，AI 服务器市场预计在 2025 年将增长 55%。戴尔上个季度总收入同比增长 19%，主要是由于 AI 服务器市场的强劲需求。</p>
</div><p>Most of Dell's revenue (56%) comes from infrastructure solutions (servers), with the rest coming from client solutions (PCs and peripherals). Dell's PC business is basically an afterthought at this point, as its infrastructure revenue grew 44% year over year last quarter.</p>
<div class="lb-trans"><p>戴尔大部分收入（56%）来自基础设施解决方案（服务器），其余来自客户端解决方案（个人电脑和外设）。戴尔的个人电脑业务在此时几乎被忽视，因为其基础设施收入在上个季度同比增长了 44%。</p>
</div><p>Dell said it shipped more AI solutions in the first half of the year than it did in all of last year. While the server market is competitive and generates low margins, Dell's competitive advantage is the extensive sales force it uses worldwide to sell to large customers, its ability to offer customized solutions for enterprises, and its speed to market.</p>
<div class="lb-trans"><p>戴尔表示，今年上半年发货的 AI 解决方案数量超过了去年全年的总量。尽管服务器市场竞争激烈且利润较低，但戴尔的竞争优势在于其在全球范围内为大型客户销售的庞大销售团队、为企业提供定制解决方案的能力以及快速的市场响应。</p>
</div><p>With the server business booming, Dell doesn't need to see much growth from its PC business for investors to do well. This is a server growth story all the way. Analysts expect Dell's adjusted earnings per share to grow at an annualized rate of 13% to reach $14.94 by fiscal 2030 (which ends in January).</p>
<div class="lb-trans"><p>随着服务器业务的蓬勃发展，戴尔不需要在个人电脑业务上看到太多增长，投资者就能获得良好的回报。这是一个完全依赖服务器增长的故事。分析师预计，戴尔的调整后每股收益将在 2030 财年（截至 1 月）以 13% 的年化率增长，达到 14.94 美元。</p>
</div><p>The stock currently trades at a conservative forward price-to-earnings multiple of 14. If it can earn a 20 forward earnings multiple in five years, the stock would trade at $300 a share, implying upside of 125% from the current $133 share price. Given the growing sentiment around the AI opportunity, the stock should earn a higher earnings multiple and fuel market-beating returns for Dell investors.</p>
<div class="lb-trans"><p>该股票目前的前瞻市盈率为 14。如果在五年内能达到 20 倍的前瞻市盈率，该股票将以每股 300 美元交易，意味着从当前 133 美元的股价上涨 125%。考虑到对 AI 机会的日益看好，该股票应该能获得更高的市盈率，并为戴尔投资者带来超越市场的回报。</p>
</div>

准备迎接爆炸性增长：两只可能在 2030 年前上涨 100% 或以上的 AI 股票