<p><strong>英伟达</strong>（ NVDA +0.44%）最近又一次报告了令人惊叹的季度增长。依然乘着 人工智能（AI） 的浪潮，其第一季度的收入提升至 816 亿美元，同比增长 85%。</p>
<p>然而，在所有乐观的喧嚣中，英伟达并不仅仅是一家 AI 硬件公司。尽管数据中心现在占其收入的 90% 以上，但它仍然运营着一个它（宽泛地）称之为 “边缘计算” 的部门，该部门在上个季度实现了 29% 的同比销售增长。</p>
<p>这对竞争对手芯片制造商 <strong>高通</strong>（ QCOM +5.78%）有着积极的影响。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzI0MzQvY29ubmVjdGVkLWNhci5qcGcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="2304" height="1296" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzI0MzQvY29ubmVjdGVkLWNhci5qcGcmdz0zODQw"/></p>
<p>图片来源：Getty Images。</p>
<h2>什么是边缘计算？</h2>
<p>边缘计算是什么？这要看你问谁。广义上说，这只是指在终端用户和数据中心之间进行的计算工作。连接的 自动驾驶汽车、智能公用事业表、可穿戴设备、计算机优化的工业工厂和智能家居都是边缘计算的例子，所有这些都需要某种程度的无监督计算处理。如果你听说过 “物联网” 这个术语，边缘计算就是在这个术语开始流行的几十年前所想的内容，_在_必要的 技术 实际上可用之前。</p>
<p>需要注意的是，英伟达的边缘计算部门所做的许多工作几乎不算真正的边缘计算；它还包括个人电脑和视频游戏在内。它还——合理地——包括 机器人技术、自动驾驶车辆和优化工厂。</p>
<p>很好。但这与高通有什么关系？</p>
<h2>高通正瞄准完全相同的机会</h2>
<p>你可能最熟悉它作为一家移动电信公司。但高通也是一家新兴的边缘计算专家，且在利用这一机会方面可能更具优势。</p>
<p>仅仅通过上个季度的整体数字是无法看出这一点的。然而，深入挖掘一下。高通管理着一个明显称为物联网的部门，该部门实现了 9% 的收入增长，占公司总业务的近 20%。与英伟达一样，高通的边缘计算部门也在从事汽车驾驶辅助、可穿戴设备和工厂优化。</p>
<p>这很重要，因为这个业务未来有着巨大的增长潜力。Precedence Research 预测，全球边缘计算市场预计到 2035 年将以 27% 的年均增速增长，届时其年值可能超过 6 万亿美元。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1FDT00ucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="高通股票报价" width="80" height="80" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1FDT00ucG5nJnc9MTI4"/></p>
<h2>NASDAQ: QCOM</h2>
<p>高通</p>
<p>今日变动</p>
<p>(5.78%) $13.23</p>
<p>当前价格</p>
<p>$242.22</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$2410 亿</p>
<p>日内区间</p>
<p>$226.11 - $243.33</p>
<p>52 周区间</p>
<p>$121.99 - $259.92</p>
<p>成交量</p>
<p>427.5K</p>
<p>平均成交量</p>
<p>19.2M</p>
<p>毛利率</p>
<p>54.80%</p>
<p>股息收益率</p>
<p>1.55%</p>
<p>毫无疑问，高通打算在这一增长中赢得至少其应得的份额。正如首席执行官 Cristiano Amon 在今年早些时候的达沃斯会议上所评论的那样，“我认为，最终，边缘计算的赢家将是 AI 竞赛的赢家。”</p>
<p>鉴于高通在移动、小型电子设备和远程高性能计算领域的领先地位，它有可能在这一细分芯片市场中超越英伟达。</p>
<h2>不容小觑</h2>
<p>不要误解这个信息。英伟达在其所运营的任何市场中都是一个强大的竞争者。高通需要赢得它所获得的任何业务。</p>
<p>英伟达即使在当前显然不需要的情况下仍继续在这一领域开发技术，这充分表明了它对未来边缘计算的看法。高通则是在同样的机会面前，或许更具备应对能力。</p>

英伟达 Q1 财报出炉——营收 816 亿美元同比 +85%、调整后 EPS 同比 +140%、数据中心营收 752 亿（占总营收 92%）全部超预期。Q2 指引 910 亿且不含中国数据中心收入，董事会同步追加 800 亿美元回购、股息上调 24 倍。&nbsp;看上去全是利好，但财报后股价盘后震荡跌超 3% 又转涨——市场已经习惯英伟达"更大幅度"超预期，这次 3.1% 的超预期幅度被认为不够。叠加新版财报框架带来的重新定价噪音，6 万亿市值高位上，分歧明显。&nbsp;你押英伟达继续封神、还是高位回调？

<p>英伟达 Q1 财报出炉——营收 816 亿美元同比 +85%、调整后 EPS 同比 +140%、数据中心营收 752 亿（占总营收 92%）全部超预期。Q2 指引 910 亿且不含中国数据中心收入，董事会同步追加 800 亿美元回购、股息上调 24 倍。&nbsp;</p><p>看上去全是利好，但财报后股价盘后震荡跌超 3% 又转涨——市场已经习惯英伟达"更大幅度"超预期，这次 3.1% 的超预期幅度被认为不够。叠加新版财报框架带来的重新定价噪音，6 万亿市值高位上，分歧明显。&nbsp;</p><p>你押英伟达继续封神、还是高位回调？</p>

英伟达 Q1 全面超预期，市场为何不买账？

英伟达

高通

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>英伟达第一季度报告强调其 “边缘计算” 部门的强劲增长，显示出显著的市场潜力。这一趋势对竞争对手高通有利，高通也在物联网和汽车等边缘计算领域扩展。随着全球边缘计算市场预计到 2035 年将达到 6 万亿美元，高通旨在利用这一机会，尽管英伟达在竞争中具有优势，但高通在特定细分市场上有可能超越英伟达</p>

<p><strong>Nvidia</strong>( NVDA +0.44%) recently reported yet another round of amazing quarterly growth. Still riding the artificial intelligence (AI) adoption wave, its Q1 top line improved to $81.6 billion, up 85% year over year.</p>
<div class="lb-trans"><p><strong>英伟达</strong>（ NVDA +0.44%）最近又一次报告了令人惊叹的季度增长。依然乘着 人工智能（AI） 的浪潮，其第一季度的收入提升至 816 亿美元，同比增长 85%。</p>
</div><p>Lost in all the bullish noise, however, is that Nvidia isn't just an AI hardware company. Although data centers now account for more than 90% of its revenue, it still operates another division it (loosely) calls &#34;edge computing,&#34; which saw 29% year-over-year sales growth of its own last quarter.</p>
<div class="lb-trans"><p>然而，在所有乐观的喧嚣中，英伟达并不仅仅是一家 AI 硬件公司。尽管数据中心现在占其收入的 90% 以上，但它仍然运营着一个它（宽泛地）称之为 “边缘计算” 的部门，该部门在上个季度实现了 29% 的同比销售增长。</p>
</div><p>And this has bullish implications for rival chipmaker <strong>Qualcomm</strong>( QCOM +5.78%).</p>
<div class="lb-trans"><p>这对竞争对手芯片制造商 <strong>高通</strong>（ QCOM +5.78%）有着积极的影响。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzI0MzQvY29ubmVjdGVkLWNhci5qcGcmdz0zODQw" alt="A person is riding in a connected, self-driving car." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F872434%2Fconnected-car.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>What is edge computing?</h2>
<div class="lb-trans"><h2>什么是边缘计算？</h2>
</div><p>What's edge computing? It depends on who you ask. Broadly speaking, though, this is just computing work that's done somewhere between end users and data centers. Connected self-driving cars, smart utility meters, wearables, computer-optimized industrial factories, and smart homes are examples of edge computing, all of which require some level of unsupervised computer processing. If you've ever heard the term &#34;Internet of Things,&#34; edge computing is what was in mind when that term first started circulating a couple of decades ago, <em>before</em> the necessary technology was actually available.</p>
<div class="lb-trans"><p>边缘计算是什么？这要看你问谁。广义上说，这只是指在终端用户和数据中心之间进行的计算工作。连接的 自动驾驶汽车、智能公用事业表、可穿戴设备、计算机优化的工业工厂和智能家居都是边缘计算的例子，所有这些都需要某种程度的无监督计算处理。如果你听说过 “物联网” 这个术语，边缘计算就是在这个术语开始流行的几十年前所想的内容，_在_必要的 技术 实际上可用之前。</p>
</div><p>It should be noted that much of what Nvidia's edge computing arm does barely qualifies as such; it includes personal computers and video gaming in this mix. It also -- rightfully -- includes robotics, autonomous vehicles, and optimized factories.</p>
<div class="lb-trans"><p>需要注意的是，英伟达的边缘计算部门所做的许多工作几乎不算真正的边缘计算；它还包括个人电脑和视频游戏在内。它还——合理地——包括 机器人技术、自动驾驶车辆和优化工厂。</p>
</div><p>Great. But what's this got to do with Qualcomm?</p>
<div class="lb-trans"><p>很好。但这与高通有什么关系？</p>
</div><h2>Qualcomm is taking aim at the exact same opportunity</h2>
<div class="lb-trans"><h2>高通正瞄准完全相同的机会</h2>
</div><p>You may know it best as a mobile telecom name. But Qualcomm is an up-and-coming edge computing specialist, too, and arguably better positioned to capitalize on the opportunity.</p>
<div class="lb-trans"><p>你可能最熟悉它作为一家移动电信公司。但高通也是一家新兴的边缘计算专家，且在利用这一机会方面可能更具优势。</p>
</div><p>You can't tell with just a passing look at last quarter's overall numbers. Dig deeper, though. Qualcomm manages a division it plainly calls Internet of Things, which produced 9% revenue growth to make up nearly 20% of the company's total business. And like Nvidia, Qualcomm's edge computing arm is working on automotive driver assistance, wearables, and factory optimization.</p>
<div class="lb-trans"><p>仅仅通过上个季度的整体数字是无法看出这一点的。然而，深入挖掘一下。高通管理着一个明显称为物联网的部门，该部门实现了 9% 的收入增长，占公司总业务的近 20%。与英伟达一样，高通的边缘计算部门也在从事汽车驾驶辅助、可穿戴设备和工厂优化。</p>
</div><p>It matters simply because there's so much growth potential ahead for this business. Precedence Research suggests the worldwide edge computing market is set to grow at an average annual pace of 27% through 2035, when it could be worth a little over $6 trillion per year.</p>
<div class="lb-trans"><p>这很重要，因为这个业务未来有着巨大的增长潜力。Precedence Research 预测，全球边缘计算市场预计到 2035 年将以 27% 的年均增速增长，届时其年值可能超过 6 万亿美元。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1FDT00ucG5nJnc9MTI4" alt="Qualcomm Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FQCOM.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: QCOM</h2>
<div class="lb-trans"><h2>NASDAQ: QCOM</h2>
</div><p>Qualcomm</p>
<div class="lb-trans"><p>高通</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(5.78%) $13.23</p>
<div class="lb-trans"><p>(5.78%) $13.23</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$242.22</p>
<div class="lb-trans"><p>$242.22</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$241B</p>
<div class="lb-trans"><p>$2410 亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$226.11 - $243.33</p>
<div class="lb-trans"><p>$226.11 - $243.33</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$121.99 - $259.92</p>
<div class="lb-trans"><p>$121.99 - $259.92</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>427.5K</p>
<div class="lb-trans"><p>427.5K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>19.2M</p>
<div class="lb-trans"><p>19.2M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>54.80%</p>
<div class="lb-trans"><p>54.80%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>1.55%</p>
<div class="lb-trans"><p>1.55%</p>
</div><p>And there's little doubt Qualcomm intends to win at least its fair share of this growth. As CEO Cristiano Amon commented at Davos earlier this year, &#34;I have this view that at the end of the day, the winner of the edge is going to be the winner of the AI race.&#34;</p>
<div class="lb-trans"><p>毫无疑问，高通打算在这一增长中赢得至少其应得的份额。正如首席执行官 Cristiano Amon 在今年早些时候的达沃斯会议上所评论的那样，“我认为，最终，边缘计算的赢家将是 AI 竞赛的赢家。”</p>
</div><p>Given Qualcomm's existing leading position within the mobile, small electronics, and remote high-performance computing space, it's conceivable that it could end up being bigger than Nvidia within this sliver of the chip market.</p>
<div class="lb-trans"><p>鉴于高通在移动、小型电子设备和远程高性能计算领域的领先地位，它有可能在这一细分芯片市场中超越英伟达。</p>
</div><h2>Nothing to dismiss</h2>
<div class="lb-trans"><h2>不容小觑</h2>
</div><p>Don't misread the message. Nvidia is a tough competitor in any market it operates in. Qualcomm will need to earn whatever business it wins.</p>
<div class="lb-trans"><p>不要误解这个信息。英伟达在其所运营的任何市场中都是一个强大的竞争者。高通需要赢得它所获得的任何业务。</p>
</div><p>The fact that Nvidia continues to develop technology on this front, even though it clearly doesn't need to right now, speaks volumes about what it sees for edge computing in the foreseeable future. Qualcomm is simply addressing the same opportunity, and is perhaps better equipped to do so.</p>
<div class="lb-trans"><p>英伟达即使在当前显然不需要的情况下仍继续在这一领域开发技术，这充分表明了它对未来边缘计算的看法。高通则是在同样的机会面前，或许更具备应对能力。</p>
</div>

A Tiny Detail in Nvidia's Q1 Report Is a Very Big Deal for Qualcomm

- Nvidia 第一季度收入达 816 亿美元，同比增长 85%。  
- Qualcomm 在边缘计算领域同样具备增长潜力，其物联网部门收入增长 9%。  
- 全球边缘计算市场预计到 2035 年将以 27% 的年平均增长率发展。

英伟达第一季度报告中的一个小细节对高通来说意义重大