<p><strong>甲骨文</strong>（ORCL +0.78%），人工智能（AI）硬件生态系统中最大的参与者之一，于 6 月 10 日发布了其 2026 财年的财报（截至 5 月 31 日的年度）。</p>
<p>对该公司财务结果的反应并不理想，因其快速增长的资本支出和为新数据中心建设融资而不断增加的债务引发了投资者的恐慌。然而，甲骨文的结果清楚表明，对 AI 数据中心基础设施的投资不会在短期内放缓，这对 <strong>英伟达</strong>（NVDA +0.58%）来说是个好消息。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4MTMvbnZkYV90bWYucG5nJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1200" height="800" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4MTMvbnZkYV90bWYucG5nJnc9Mzg0MA"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>甲骨文表示 GPU 需求依然强劲</h2>
<p>仔细观察甲骨文管理层在最新的 财报电话会议 上的评论，表明数据中心对图形处理单元（GPU）的需求依然强劲。甲骨文指出，上个季度数据中心 GPU 的全球利用率达到了 97.5%。</p>
<p>这一高利用率表明，GPU 在数据中心运行 AI 工作负载的需求依然旺盛。这对控制着约 80%-90% AI 加速器市场的英伟达来说是个好兆头。此外，甲骨文预计今年将大幅增加资本支出，这表明对英伟达 GPU 的需求将继续增长。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="英伟达股票报价" width="80" height="80" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4"/></p>
<h2>NASDAQ: NVDA</h2>
<p>英伟达</p>
<p>今日变动</p>
<p>(0.58%) $1.20</p>
<p>当前价格</p>
<p>$208.61</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$5.0 万亿</p>
<p>日内区间</p>
<p>$207.56 - $208.82</p>
<p>52 周区间</p>
<p>$142.03 - $236.54</p>
<p>成交量</p>
<p>417.7K</p>
<p>平均成交量</p>
<p>163.7M</p>
<p>毛利率</p>
<p>74.15%</p>
<p>股息收益率</p>
<p>0.13%</p>
<p>甲骨文预计 2027 财年的资本支出将达到 700 亿美元，另有 200 亿到 250 亿美元将由客户预付款资助。这将使甲骨文在 2027 财年的整体资本支出达到 900 亿到 950 亿美元，远高于 2026 财年支出的 560 亿美元（其中 80 亿美元由预付款资助）。</p>
<p>甲骨文资本支出的显著加速反映了更广泛的 AI 基础设施领域。根据 <strong>Gartner</strong> 的预测，全球 AI 基础设施支出今年可能跃升至 1.36 万亿美元，预计到 2027 年将达到 1.75 万亿美元。英伟达作为 AI 芯片市场的领先者，处于一个绝佳的位置，可以利用这一巨大的 AI 基础设施支出，尤其是考虑到尽管出现了竞争产品，GPU 仍然主导着芯片市场。</p>
<h2>这是再次购买英伟达股票的信号</h2>
<p>甲骨文资本支出的激增，以及其剩余履约义务从一年前的 1380 亿美元激增至上个季度的 6380 亿美元，表明英伟达的可寻址市场正在迅速扩大。不出所料，该公司正在 预测其增长率将加速。</p>
<p>预计英伟达在 2027 财年的收益将增长 88%，远高于 <strong>标准普尔 500</strong> 指数 23% 的收益增长。下一个财年的每股收益增长预测为 42%，达到 12.73 美元，也超过了标准普尔 500 的 17% 增长。以 31 倍的收益倍数计算，投资者现在可以以低于科技股集中指数纳斯达克 100 的 35 倍收益倍数的价格购买 英伟达股票。</p>
<p>如果英伟达在 2028 财年（将于 2028 年 1 月结束）确实实现每股收益 12.73 美元，并且以 25 倍的收益交易，其股价可能达到 318 美元，暗示潜在上涨 50%。然而，考虑到其卓越的收益增长，该公司理应获得更高的估值。</p>

英伟达

甲骨文

南方两倍做空英伟达

<p>甲骨文 2026 财年的业绩凸显了强劲的 GPU 需求，数据中心的利用率达到 97.5%，这使得英伟达受益，后者在 AI 加速器市场占有 80-90% 的份额。甲骨文计划在 2027 财年将资本支出增加到 900 亿至 950 亿美元，表明其在 AI 基础设施上的持续投资。这一增长支持了英伟达预计的盈利激增和潜在的股票升值，因为全球 AI 支出显著上升</p>

<p><strong>Oracle</strong>( ORCL +0.78%), one of the biggest players in the artificial intelligence (AI) hardware ecosystem, released its fiscal 2026 results (for the year ended May 31) on June 10.</p>
<div class="lb-trans"><p><strong>甲骨文</strong>（ORCL +0.78%），人工智能（AI）硬件生态系统中最大的参与者之一，于 6 月 10 日发布了其 2026 财年的财报（截至 5 月 31 日的年度）。</p>
</div><p>The reaction to the company's financial results wasn't great, as concerns about its fast-growing capital expenditures and mounting debt to finance the build-out of new data centers led investors to press the panic button. However, Oracle's results make it clear that the investments in AI data center infrastructure won't be slowing down any time soon, which is great news for <strong>Nvidia</strong>( NVDA +0.58%).</p>
<div class="lb-trans"><p>对该公司财务结果的反应并不理想，因其快速增长的资本支出和为新数据中心建设融资而不断增加的债务引发了投资者的恐慌。然而，甲骨文的结果清楚表明，对 AI 数据中心基础设施的投资不会在短期内放缓，这对 <strong>英伟达</strong>（NVDA +0.58%）来说是个好消息。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NzQ4MTMvbnZkYV90bWYucG5nJnc9Mzg0MA" alt="Nvidia company name and logo written in white on a green background." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F874813%2Fnvda_tmf.png&amp;w=3840&amp;op=resize"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>Oracle has indicated that GPU demand remains solid</h2>
<div class="lb-trans"><h2>甲骨文表示 GPU 需求依然强劲</h2>
</div><p>A closer look at Oracle management's comments on the latest earnings call indicates that demand for graphics processing units (GPUs) in data centers remains robust. Oracle noted that the global utilization rate of GPUs in data centers stood at a solid 97.5% last quarter.</p>
<div class="lb-trans"><p>仔细观察甲骨文管理层在最新的 财报电话会议 上的评论，表明数据中心对图形处理单元（GPU）的需求依然强劲。甲骨文指出，上个季度数据中心 GPU 的全球利用率达到了 97.5%。</p>
</div><p>This high utilization rate suggests that GPUs remain in high demand for running AI workloads in data centers. This bodes well for Nvidia, which controls an estimated 80%-90% of the AI accelerator market. What's more, Oracle is on track to significantly increase its capital expenditure this year, suggesting that the demand for Nvidia's GPUs will continue to increase.</p>
<div class="lb-trans"><p>这一高利用率表明，GPU 在数据中心运行 AI 工作负载的需求依然旺盛。这对控制着约 80%-90% AI 加速器市场的英伟达来说是个好兆头。此外，甲骨文预计今年将大幅增加资本支出，这表明对英伟达 GPU 的需求将继续增长。</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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL05WREEucG5nJnc9MTI4" alt="Nvidia Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FNVDA.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: NVDA</h2>
<div class="lb-trans"><h2>NASDAQ: NVDA</h2>
</div><p>Nvidia</p>
<div class="lb-trans"><p>英伟达</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(0.58%) $1.20</p>
<div class="lb-trans"><p>(0.58%) $1.20</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$208.61</p>
<div class="lb-trans"><p>$208.61</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>$5.0T</p>
<div class="lb-trans"><p>$5.0 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$207.56 - $208.82</p>
<div class="lb-trans"><p>$207.56 - $208.82</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$142.03 - $236.54</p>
<div class="lb-trans"><p>$142.03 - $236.54</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>417.7K</p>
<div class="lb-trans"><p>417.7K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>163.7M</p>
<div class="lb-trans"><p>163.7M</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>74.15%</p>
<div class="lb-trans"><p>74.15%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.13%</p>
<div class="lb-trans"><p>0.13%</p>
</div><p>Oracle expects $70 billion in capex in fiscal 2027, with another $20 billion to $25 billion to be funded by customer prepayments. This will bring Oracle's overall capex in fiscal 2027 to a range of $90 billion to $95 billion, well above the $56 billion spent in fiscal 2026 ($8 billion of which was funded by prepayments).</p>
<div class="lb-trans"><p>甲骨文预计 2027 财年的资本支出将达到 700 亿美元，另有 200 亿到 250 亿美元将由客户预付款资助。这将使甲骨文在 2027 财年的整体资本支出达到 900 亿到 950 亿美元，远高于 2026 财年支出的 560 亿美元（其中 80 亿美元由预付款资助）。</p>
</div><p>The substantial acceleration in Oracle's capital spending reflects the broader AI infrastructure space. According to <strong>Gartner</strong>, global AI infrastructure spending could jump to $1.36 trillion this year, followed by $1.75 trillion in 2027. Nvidia's status as the leading player in the AI chip market puts it in a terrific position to capitalize on this massive AI infrastructure spending, especially given that GPUs continue to dominate the chip landscape despite the emergence of competing offerings.</p>
<div class="lb-trans"><p>甲骨文资本支出的显著加速反映了更广泛的 AI 基础设施领域。根据 <strong>Gartner</strong> 的预测，全球 AI 基础设施支出今年可能跃升至 1.36 万亿美元，预计到 2027 年将达到 1.75 万亿美元。英伟达作为 AI 芯片市场的领先者，处于一个绝佳的位置，可以利用这一巨大的 AI 基础设施支出，尤其是考虑到尽管出现了竞争产品，GPU 仍然主导着芯片市场。</p>
</div><h2>This is yet another sign to buy Nvidia stock</h2>
<div class="lb-trans"><h2>这是再次购买英伟达股票的信号</h2>
</div><p>The aggressive growth in Oracle's capex, and the fact that its remaining performance obligations jumped to a whopping $638 billion in the previous quarter from $138 billion a year ago, indicate that Nvidia's addressable market continues to expand rapidly. Not surprisingly, the company is forecasting its growth rate to accelerate.</p>
<div class="lb-trans"><p>甲骨文资本支出的激增，以及其剩余履约义务从一年前的 1380 亿美元激增至上个季度的 6380 亿美元，表明英伟达的可寻址市场正在迅速扩大。不出所料，该公司正在 预测其增长率将加速。</p>
</div><p>Nvidia's earnings are expected to jump by 88% in the ongoing fiscal 2027, well above the 23% earnings growth of the <strong>S&amp;P 500</strong> index. The 42% earnings growth projection for the next fiscal year to $12.73 per share also exceeds the 17% growth in the S&amp;P 500. With an earnings multiple of 31, investors can now buy Nvidia stock at a discount to the tech-focused Nasdaq-100 index's earnings multiple of 35.</p>
<div class="lb-trans"><p>预计英伟达在 2027 财年的收益将增长 88%，远高于 <strong>标准普尔 500</strong> 指数 23% 的收益增长。下一个财年的每股收益增长预测为 42%，达到 12.73 美元，也超过了标准普尔 500 的 17% 增长。以 31 倍的收益倍数计算，投资者现在可以以低于科技股集中指数纳斯达克 100 的 35 倍收益倍数的价格购买 英伟达股票。</p>
</div><p>If Nvidia indeed achieves $12.73 in earnings per share in fiscal 2028 (which will end in January 2028) and trades at even 25 times earnings, its stock price could reach $318, suggesting a potential jump of 50%. However, the company can do much better than that, as its outstanding earnings growth should ideally be rewarded with a premium valuation.</p>
<div class="lb-trans"><p>如果英伟达在 2028 财年（将于 2028 年 1 月结束）确实实现每股收益 12.73 美元，并且以 25 倍的收益交易，其股价可能达到 318 美元，暗示潜在上涨 50%。然而，考虑到其卓越的收益增长，该公司理应获得更高的估值。</p>
</div>

Oracle Has Fantastic News for Nvidia Stock Investors

- Oracle 发布 2026 财年财报，因资本支出和债务担忧导致股价震荡。  
- GPU 在数据中心需求强劲，使用率达 97.5%，利好 Nvidia 市场。  
- Oracle 预计 2027 财年资本支出达 900 亿至 950 亿美元，反映 AI 基础设施需求加速。

甲骨文为英伟达股票投资者传递了极好的消息