<p>有句老话：打不赢他们，就加入他们。这正是 <strong>英特尔</strong>（INTC -1.53%）在与 <strong>英伟达</strong>（NVDA 0.50%）的最新交易中所做的。多年来，英特尔一直在努力保持在一个被人工智能主导的行业中的相关性。</p>
<p>但英特尔的最新交易可能使其成为下一个大 AI 股票。了解这项合作的细节对英特尔和英伟达的股东来说至关重要。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY1NjkvbnZpZGlhLWhlYWRxdWFydGVycy13aXRoLW52aWRpYS1zaWduLWluLWZyb250LTEucG5nJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="420" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY1NjkvbnZpZGlhLWhlYWRxdWFydGVycy13aXRoLW52aWRpYS1zaWduLWluLWZyb250LTEucG5nJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>理解英特尔与英伟达交易的两个要点</h2>
<p>上个月，英伟达同意向英特尔投资 50 亿美元。这使其在公司中获得了大约 4% 的股份。这项投资是在美国政府今年早些时候获得英特尔 9.9% 的股份之后进行的。</p>
<p>这两家科技公司之间的交易令人惊讶，原因有几个。首先，英伟达和英特尔在许多芯片领域直接竞争。两者都制造高性能 GPU，服务于从游戏到人工智能的各种终端市场。公司通常不会投资于竞争对手。</p>
<p>这引出了交易令人惊讶的第二个原因：近年来，英伟达在市场上压制了英特尔，在几乎所有增长类别中都占据了更大的市场份额。例如，在附加板 GPU 市场，英伟达控制了超过 90% 的市场，而英特尔的市场份额不到 1%。</p>
<p>为什么英伟达会投资于一个挣扎中的竞争对手？有两个要点需要理解。</p>
<p>第一个是这项交易使英伟达能够在美国采购关键组件。英特尔的代工厂主要位于美国。与此同时，英伟达主要依赖 <strong>台湾半导体制造公司</strong> 进行生产，这给其供应链增加了显著的地缘政治风险。这项交易使英伟达能够多样化其某些组件的来源。同时，英特尔也为其代工基础设施获得了一个大型客户。</p>
<p>这项交易的第二个理由是将英伟达市场领先的 GPU 与英特尔领先的 CPU 结合起来。虽然由于 GPU 在推动和训练 AI 软件中的重要性，需求急剧上升，但 CPU 仍然是数据中心的基本组件。英特尔的 CPU 与英伟达的 GPU 之间的更好集成应该会带来更大的性能提升和降低能耗。</p>
<h2>英特尔能否成为下一个大 AI 股票？</h2>
<p>与英伟达的合作使英特尔有了更好的机会从 AI 革命中受益。预计 AI 支出将在未来几年以 30% 以上的年化速度增长。到目前为止，英伟达因其开发顶级 AI 专用 GPU 以及其 CUDA 软件平台而受益匪浅，后者帮助客户充分利用其芯片。现在，英特尔实际上将其命运与行业领导者紧密相连，这可能是一个非常有利的位置。</p>
<p>英特尔与英伟达的交易还为英特尔提供了一个机会，以获得对其当前运营策略的急需验证。根据《纽约时报》的报道，“分析师表示，大多数芯片公司希望看到英特尔能否成功制造自己的计算机芯片，然后再要求其为智能手机、人工智能系统和其他技术生产芯片。” 与英伟达的交易为其提供了一个需求巨大的蓝筹客户，这可能正是英特尔吸引更多代工客户所需的。</p>
<p>然而，更令人兴奋的原因是英特尔新获得的能力，可以将其 CPU 更紧密地与 AI 数据中心结合。如前所述，英伟达在与 AI 相关的大多数 GPU 类别中占据 90% 以上的市场份额。与此同时，英特尔的 CPU 也在今天的大多数服务器中使用。从一开始将这两个组件结合在一起，将简化客户的订单和组装，释放设计和软件集成方面的潜在效率提升，并确保英特尔的产品在 AI 技术中保持相关性。</p>
<p>总的来说，这项交易对英特尔投资者来说是重大新闻。公司的代工模式获得了巨大的验证提升。同时，其在 AI 行业的地位——尽管仍然相对薄弱——正在改善。英特尔不会很快超越英伟达。但他们之间的交易至少使英特尔能够从竞争对手的成功中受益。</p>

英特尔

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>英特尔与英伟达达成了一项重要协议，英伟达投资 50 亿美元以获得英特尔 4% 的股份。这一合作关系至关重要，因为它使英伟达能够多样化其供应链，并为英特尔的代工服务提供了一个主要客户。此次合作旨在将英伟达的 GPU 与英特尔的 CPU 集成，从而提升人工智能数据中心的性能。这项交易被视为对英特尔战略的认可，并可能使其在不断增长的人工智能市场中处于更有利的位置，尽管其目前面临着英伟达的主导地位带来的挑战</p>

<p>There's an old saying: If you can't beat them, join them. That's exactly what <strong>Intel</strong>(INTC -1.53%) appears to have done in its latest deal with <strong>Nvidia</strong>(NVDA 0.50%). For years, Intel has struggled to remain relevant in an industry dominated by artificial intelligence.</p>
<div class="lb-trans"><p>有句老话：打不赢他们，就加入他们。这正是 <strong>英特尔</strong>（INTC -1.53%）在与 <strong>英伟达</strong>（NVDA 0.50%）的最新交易中所做的。多年来，英特尔一直在努力保持在一个被人工智能主导的行业中的相关性。</p>
</div><p>But Intel's latest deal could make it the next big AI stock. Understanding the details of the partnership will be critical for shareholders in Intel and Nvidia alike.</p>
<div class="lb-trans"><p>但英特尔的最新交易可能使其成为下一个大 AI 股票。了解这项合作的细节对英特尔和英伟达的股东来说至关重要。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY1NjkvbnZpZGlhLWhlYWRxdWFydGVycy13aXRoLW52aWRpYS1zaWduLWluLWZyb250LTEucG5nJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F836569%2Fnvidia-headquarters-with-nvidia-sign-in-front-1.png&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>Two things to understand about Intel's deal with Nvidia</h2>
<div class="lb-trans"><h2>理解英特尔与英伟达交易的两个要点</h2>
</div><p>Last month, Nvidia agreed to invest $5 billion in Intel. This gave it a roughly 4% stake in the company. This investment followed the U.S. government taking a 9.9% stake in Intel earlier this year.</p>
<div class="lb-trans"><p>上个月，英伟达同意向英特尔投资 50 亿美元。这使其在公司中获得了大约 4% 的股份。这项投资是在美国政府今年早些时候获得英特尔 9.9% 的股份之后进行的。</p>
</div><p>The deal between the two tech companies was surprising for several reasons. First, Nvidia and Intel compete directly in many areas of the chip landscape. Both make high-performance GPUs that serve a variety of end markets, from gaming to AI. Companies don't typically invest in their rivals.</p>
<div class="lb-trans"><p>这两家科技公司之间的交易令人惊讶，原因有几个。首先，英伟达和英特尔在许多芯片领域直接竞争。两者都制造高性能 GPU，服务于从游戏到人工智能的各种终端市场。公司通常不会投资于竞争对手。</p>
</div><p>This brings us to the second reason the deal was surprising: Nvidia has been crushing Intel in recent years, amassing larger market shares in almost every growth category. In the market for add-in-board GPUs, for instance, Nvidia controls more than 90% of the market, while Intel's share is less than 1%.</p>
<div class="lb-trans"><p>这引出了交易令人惊讶的第二个原因：近年来，英伟达在市场上压制了英特尔，在几乎所有增长类别中都占据了更大的市场份额。例如，在附加板 GPU 市场，英伟达控制了超过 90% 的市场，而英特尔的市场份额不到 1%。</p>
</div><p>Why would Nvidia invest in a struggling competitor? There are two things to understand.</p>
<div class="lb-trans"><p>为什么英伟达会投资于一个挣扎中的竞争对手？有两个要点需要理解。</p>
</div><p>The first is that this deal gives Nvidia the ability to source critical components in the U.S. Intel's foundries are largely based in the U.S. Nvidia, meanwhile, primarily relies on <strong>Taiwan Semiconductor Manufacturing Company</strong> for production, which adds significant geopolitical risk to its supply chain. This deal allows Nvidia to diversify its sources for certain components. Meanwhile, Intel gains a large customer for its foundry infrastructure.</p>
<div class="lb-trans"><p>第一个是这项交易使英伟达能够在美国采购关键组件。英特尔的代工厂主要位于美国。与此同时，英伟达主要依赖 <strong>台湾半导体制造公司</strong> 进行生产，这给其供应链增加了显著的地缘政治风险。这项交易使英伟达能够多样化其某些组件的来源。同时，英特尔也为其代工基础设施获得了一个大型客户。</p>
</div><p>The second rationale behind this deal is the pairing of Nvidia's market-leading GPUs with Intel's leading CPUs. While demand for GPUs has surged dramatically due to their usefulness in powering and training AI software, CPUs remain essential components for data centers too. Improved integration between Intel's CPUs and Nvidia's GPUs should result in greater performance improvements and reduced energy demand.</p>
<div class="lb-trans"><p>这项交易的第二个理由是将英伟达市场领先的 GPU 与英特尔领先的 CPU 结合起来。虽然由于 GPU 在推动和训练 AI 软件中的重要性，需求急剧上升，但 CPU 仍然是数据中心的基本组件。英特尔的 CPU 与英伟达的 GPU 之间的更好集成应该会带来更大的性能提升和降低能耗。</p>
</div><h2>Can Intel become the next big AI stock?</h2>
<div class="lb-trans"><h2>英特尔能否成为下一个大 AI 股票？</h2>
</div><p>Collaborating with Nvidia gives Intel a much better chance to benefit from the AI revolution. AI spending is expected to increase at an annualized rate of 30% or more for years to come. So far, Nvidia has benefited tremendously thanks to its development of top-of-the-line AI-focused GPUs, as well as its CUDA software platform, which helps its customers get the most out of their chips. Now, Intel has essentially attached its fate to the industry leader, which could be a highly beneficial position.</p>
<div class="lb-trans"><p>与英伟达的合作使英特尔有了更好的机会从 AI 革命中受益。预计 AI 支出将在未来几年以 30% 以上的年化速度增长。到目前为止，英伟达因其开发顶级 AI 专用 GPU 以及其 CUDA 软件平台而受益匪浅，后者帮助客户充分利用其芯片。现在，英特尔实际上将其命运与行业领导者紧密相连，这可能是一个非常有利的位置。</p>
</div><p>Intel's deal with Nvidia also provides Intel with an opportunity to earn some much-needed validation for its current operating strategy. According to reporting from <em>The New York Times</em>, &#34;analysts say most chip companies want to see whether Intel can succeed in making its own computer chips before asking it to produce their chips for smartphones, artificial intelligence systems and other technologies.&#34; The Nvidia deal gives it a blue chip customer with massive demand needs, which could be exactly what Intel needs to help it attract more foundry clients.</p>
<div class="lb-trans"><p>英特尔与英伟达的交易还为英特尔提供了一个机会，以获得对其当前运营策略的急需验证。根据《纽约时报》的报道，“分析师表示，大多数芯片公司希望看到英特尔能否成功制造自己的计算机芯片，然后再要求其为智能手机、人工智能系统和其他技术生产芯片。” 与英伟达的交易为其提供了一个需求巨大的蓝筹客户，这可能正是英特尔吸引更多代工客户所需的。</p>
</div><p>The bigger cause for excitement, however, is Intel's newfound ability to tie its CPUs more tightly into AI data centers. As mentioned, Nvidia holds a 90% market share or more in most GPU categories related to AI. Intel's CPUs, meanwhile, are also used in a majority of servers today. Coupling the two components together from the start will simplify ordering and assembly for customers, unlock potential efficiency gains in terms of design and software integrations, and also ensure that Intel's products remain relevant for AI technologies.</p>
<div class="lb-trans"><p>然而，更令人兴奋的原因是英特尔新获得的能力，可以将其 CPU 更紧密地与 AI 数据中心结合。如前所述，英伟达在与 AI 相关的大多数 GPU 类别中占据 90% 以上的市场份额。与此同时，英特尔的 CPU 也在今天的大多数服务器中使用。从一开始将这两个组件结合在一起，将简化客户的订单和组装，释放设计和软件集成方面的潜在效率提升，并确保英特尔的产品在 AI 技术中保持相关性。</p>
</div><p>In total, this deal is massive news for Intel investors. The company's foundry model got a huge validation bump. Meanwhile, its position in the AI industry -- while still relatively weak -- is improving. Intel won't be overtaking Nvidia anytime soon. But the deal between them at least gives Intel some ability to benefit from its competitor's success.</p>
<div class="lb-trans"><p>总的来说，这项交易对英特尔投资者来说是重大新闻。公司的代工模式获得了巨大的验证提升。同时，其在 AI 行业的地位——尽管仍然相对薄弱——正在改善。英特尔不会很快超越英伟达。但他们之间的交易至少使英特尔能够从竞争对手的成功中受益。</p>
</div>

Why the Nvidia Deal Is Massive News for Intel Shareholders

- 英特尔与英伟达达成合作，英伟达投资 50 亿美元获得约 4% 股份。  
- 此交易有助于英伟达多元化供应链，同时为英特尔提供重要客户。  
- 合作将提升英特尔在 AI 领域的竞争力，助力其未来发展。  

为什么 NVIDIA 的交易对英特尔股东来说是一个重大新闻