<p><strong>Palantir</strong>(PLTR -2.60%) 和 <strong>Nvidia</strong>(NVDA -1.32%) 是今年 <strong>標準普爾 500</strong> 指數中表現最好的兩隻股票。實際上，它們的股價漲幅分別排名第二和第三，僅次於 <strong>Vistra</strong>，這是一家因市場對人工智能（AI）繁榮的押注而大幅上漲的非監管公用事業公司，該繁榮推動了 Palantir 和 Nvidia 的上漲，並將對電力需求產生激增，以支持運行 AI 工作負載的數據中心。</p>
<p>Palantir 和 Nvidia 都回報了長期投資者，但今天哪一隻股票更值得購買？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>商業模式：Nvidia vs. Palantir</h2>
<p>Nvidia 和 Palantir 都因在人工智能領域的領導地位而聞名，但這兩家公司在該行業中佔據的地位完全不同。</p>
<p>Nvidia 是一家無晶圓半導體公司，主導着數據中心 GPU 的市場——這些快速而強大的芯片特別適合 AI 軟件的特定需求。去年，它在數據中心 GPU 細分市場的市場份額 reportedly 達到 98%。儘管該公司面臨來自 <strong>Advanced Micro Devices</strong> 和 <strong>Intel</strong> 等同行的競爭，但它繼續在加速計算方面推動創新，推出的新款 Blackwell 芯片比其之前的頂級 Hopper 架構芯片快得多、性能更強。到目前為止，Nvidia 的 CEO Jensen Huang 表示，Blackwell 芯片的需求 “瘋狂”。</p>
<p>這家 AI 芯片巨頭還通過其 CUDA 軟件平台和應用程序編程接口建立了顯著的競爭優勢，該平台提供了一系列工具和庫，可用於加速並行計算任務並大大提高系統的生產力。</p>
<p>Nvidia 在視頻遊戲、自動駕駛汽車和可視化等應用的芯片市場歷史上也表現強勁。然而，在 AI 時代，數據中心部門已成為業務的主導。</p>
<p>另一方面，Palantir 是一家雲軟件公司，20 年前開始為美國情報機構提供服務，幫助他們在反恐等目的下 “連接點滴” 以挖掘數據。</p>
<p>這種商業模式現在被稱為數據融合，在 AI 時代得到了政府和企業的廣泛認可，特別是在 Palantir 人工智能平台（AIP）推出之後。AIP 結合了其機器學習技術的強大功能，使用户能夠以大型語言模型的可訪問性和互動性搜索他們的數據。</p>
<p>得益於其客户關係、競爭護城河和在數據融合方面的 proven 實力，Palantir 似乎在這一領域處於領先地位。</p>
<h2>財務狀況：Nvidia vs. Palantir</h2>
<p>如果你想知道為什麼 Nvidia 的股票在過去兩年中飆升，你只需查看公司的收入和利潤數字即可找到答案。到其 2025 財年第二季度，Nvidia 已報告連續五個季度的收入增長超過三位數，其利潤也飆升。</p>
<p>其利潤率現在超過 50%，在最近一個季度（截至 7 月 28 日），調整後的每股收益增長了 152%，收入增長了 122%，達到了 300 億美元。</p>
<p>Palantir 的規模要小得多，增長速度也較慢。在第三季度，其收入增長了 30%，達到了 7.26 億美元，而其 GAAP（公認會計原則）營業收入同比幾乎增長了三倍，達到了 1.13 億美元。</p>
<p>Palantir 的收入增長也連續五個季度加速。</p>
<h2>估值：Nvidia vs. Palantir</h2>
<p>Nvidia 和 Palantir 的股票都以昂貴的估值交易，反映了它們在 AI 領域的實力和快速增長。Nvidia 當前的市銷率為 36，而 Palantir 的倍數更高，達到了 55。</p>
<p>但這兩家公司都穩健盈利。在市盈率方面，Nvidia 的市盈率為 65，而 Palantir 的市盈率為 170。</p>
<p>簡而言之，這兩隻股票今天都帶有較大的溢價，但 Nvidia 在這方面似乎更具優勢。</p>
<h2>哪一隻股票更值得購買？</h2>
<p>這兩隻股票今年都獲得了收益，但上述分析清楚地表明，哪一隻股票對現在的投資者來説是贏家。Nvidia 的增長速度快於 Palantir。根據傳統的估值指標，它更便宜，其競爭優勢也更為根深蒂固。</p>
<p>雖然這兩隻股票在長期內都有繼續超越的潛力，但 Nvidia 看起來是更可靠的投資選擇，並且面臨的回調風險較小。</p>

PLTR

英偉達

<p>英偉達和 Palantir 是領先的人工智能股票，在標準普爾 500 指數的股價漲幅中排名第二和第三。英偉達是一家無晶圓半導體公司，在數據中心 GPU 市場佔據 98% 的份額，並報告了顯著的收入增長。Palantir 是一家雲軟件公司，專注於數據融合，收入增長穩定。兩隻股票的估值都很高，但英偉達的增長速度更快，市盈率更低，被認為是比 Palantir 更可靠的投資</p>

<p><strong>Palantir</strong>(PLTR -2.60%) and <strong>Nvidia</strong>(NVDA -1.32%) are two of the best-performing stocks on the <strong>S&amp;P 500</strong> this year. In fact, they rank in second and third place for share price gains, respectively, behind only <strong>Vistra</strong>, an unregulated utility that has spiked on bets that the same artificial intelligence (AI) boom driving Palantir and Nvidia higher will create a surge in demand for electricity to power the data centers running AI workloads.</p>
<div class="lb-trans"><p><strong>Palantir</strong>(PLTR -2.60%) 和 <strong>Nvidia</strong>(NVDA -1.32%) 是今年 <strong>標準普爾 500</strong> 指數中表現最好的兩隻股票。實際上，它們的股價漲幅分別排名第二和第三，僅次於 <strong>Vistra</strong>，這是一家因市場對人工智能（AI）繁榮的押注而大幅上漲的非監管公用事業公司，該繁榮推動了 Palantir 和 Nvidia 的上漲，並將對電力需求產生激增，以支持運行 AI 工作負載的數據中心。</p>
</div><p>Both Palantir and Nvidia have rewarded their longer-term investors, but which is the better buy today?</p>
<div class="lb-trans"><p>Palantir 和 Nvidia 都回報了長期投資者，但今天哪一隻股票更值得購買？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy83OTgyODcvY29pbnMtc3RhY2std2l0aC1iYWxhbmNlLXNjYWxlLWNvbXBvdW5kLXJldHVybnMuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F798287%2Fcoins-stack-with-balance-scale-compound-returns.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Business model: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>商業模式：Nvidia vs. Palantir</h2>
</div><p>Nvidia and Palantir are both known for their leadership in the artificial intelligence space, but the companies occupy entirely different positions in that industry.</p>
<div class="lb-trans"><p>Nvidia 和 Palantir 都因在人工智能領域的領導地位而聞名，但這兩家公司在該行業中佔據的地位完全不同。</p>
</div><p>Nvidia is a fabless semiconductor company that dominates the market for data center GPUs -- fast and powerful chips that are especially well suited to the specific demands of AI software. Last year, it reportedly had a market share of 98% in the data center GPU niche. While the company is facing increased competition from peers like <strong>Advanced Micro Devices</strong> and <strong>Intel</strong>, it has continued to push the envelope in accelerated computing with its new Blackwell chips, which are significantly faster and more powerful than its previous top-of-the-line Hopper architecture chips. So far, Nvidia has experienced &#34;insane&#34; demand for the Blackwell chips, according to CEO Jensen Huang.</p>
<div class="lb-trans"><p>Nvidia 是一家無晶圓半導體公司，主導着數據中心 GPU 的市場——這些快速而強大的芯片特別適合 AI 軟件的特定需求。去年，它在數據中心 GPU 細分市場的市場份額 reportedly 達到 98%。儘管該公司面臨來自 <strong>Advanced Micro Devices</strong> 和 <strong>Intel</strong> 等同行的競爭，但它繼續在加速計算方面推動創新，推出的新款 Blackwell 芯片比其之前的頂級 Hopper 架構芯片快得多、性能更強。到目前為止，Nvidia 的 CEO Jensen Huang 表示，Blackwell 芯片的需求 “瘋狂”。</p>
</div><p>The AI chip giant has also built up significant competitive advantages through its CUDA software platform and application programming interface, which provides an array of tools and libraries that can be used to speed up parallel computing tasks and greatly increase a system's productivity.</p>
<div class="lb-trans"><p>這家 AI 芯片巨頭還通過其 CUDA 軟件平台和應用程序編程接口建立了顯著的競爭優勢，該平台提供了一系列工具和庫，可用於加速並行計算任務並大大提高系統的生產力。</p>
</div><p>Nvidia has also been historically strong in the chip market for applications such as video games, autonomous vehicles, and visualization. However, the data center segment has come to dominate the business in the AI era.</p>
<div class="lb-trans"><p>Nvidia 在視頻遊戲、自動駕駛汽車和可視化等應用的芯片市場歷史上也表現強勁。然而，在 AI 時代，數據中心部門已成為業務的主導。</p>
</div><p>Palantir, on the other hand, is a cloud software company that got its start 20 years ago serving U.S. intelligence agencies, helping them &#34;connect the dots&#34; as they mined their data for counterterrorism purposes, among others.</p>
<div class="lb-trans"><p>另一方面，Palantir 是一家雲軟件公司，20 年前開始為美國情報機構提供服務，幫助他們在反恐等目的下 “連接點滴” 以挖掘數據。</p>
</div><p>This business model, now known as data fusion, has gained traction with both the government and businesses in the AI era, especially following the launch of the Palantir Artificial Intelligence Platform (AIP). AIP, which combines the power of its machine learning technologies, allows users to search through their data with the accessibility and interactiveness of a large language model.</p>
<div class="lb-trans"><p>這種商業模式現在被稱為數據融合，在 AI 時代得到了政府和企業的廣泛認可，特別是在 Palantir 人工智能平台（AIP）推出之後。AIP 結合了其機器學習技術的強大功能，使用户能夠以大型語言模型的可訪問性和互動性搜索他們的數據。</p>
</div><p>Palantir seems to be leading the charge on that front, thanks to its customer relations, competitive moat, and proven strength in data fusion.</p>
<div class="lb-trans"><p>得益於其客户關係、競爭護城河和在數據融合方面的 proven 實力，Palantir 似乎在這一領域處於領先地位。</p>
</div><h2>Financials: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>財務狀況：Nvidia vs. Palantir</h2>
</div><p>If you're wondering why Nvidia's stock has soared quite so much over the last two years, you only need to look at the company's top- and bottom-line numbers to find the answer. Through its fiscal 2025 second quarter, Nvidia has reported five straight quarters of triple-digit percentage revenue growth, and its profits have skyrocketed.</p>
<div class="lb-trans"><p>如果你想知道為什麼 Nvidia 的股票在過去兩年中飆升，你只需查看公司的收入和利潤數字即可找到答案。到其 2025 財年第二季度，Nvidia 已報告連續五個季度的收入增長超過三位數，其利潤也飆升。</p>
</div><p>Its profit margin is now above 50%, and in that most recent quarter, which ended July 28, adjusted earnings per share jumped 152% on revenue that grew 122% to $30 billion.</p>
<div class="lb-trans"><p>其利潤率現在超過 50%，在最近一個季度（截至 7 月 28 日），調整後的每股收益增長了 152%，收入增長了 122%，達到了 300 億美元。</p>
</div><p>Palantir is both much smaller and growing more slowly. In the third quarter, its revenue grew 30% to $726 million, and its GAAP (generally accepted accounting principles) income from operations nearly tripled year over year to $113 million.</p>
<div class="lb-trans"><p>Palantir 的規模要小得多，增長速度也較慢。在第三季度，其收入增長了 30%，達到了 7.26 億美元，而其 GAAP（公認會計原則）營業收入同比幾乎增長了三倍，達到了 1.13 億美元。</p>
</div><p>Palantir's revenue growth has also accelerated for five quarters in a row.</p>
<div class="lb-trans"><p>Palantir 的收入增長也連續五個季度加速。</p>
</div><h2>Valuation: Nvidia vs. Palantir</h2>
<div class="lb-trans"><h2>估值：Nvidia vs. Palantir</h2>
</div><p>Shares of both Nvidia and Palantir are trading at expensive valuations that reflect their strength in AI and rapid growth. Nvidia currently trades at a price-to-sales ratio of 36, while Palantir's multiple is an even loftier 55.</p>
<div class="lb-trans"><p>Nvidia 和 Palantir 的股票都以昂貴的估值交易，反映了它們在 AI 領域的實力和快速增長。Nvidia 當前的市銷率為 36，而 Palantir 的倍數更高，達到了 55。</p>
</div><p>But both companies are solidly profitable. In terms of price-to-earnings ratio, Nvidia's is 65, while Palantir's is 170.</p>
<div class="lb-trans"><p>但這兩家公司都穩健盈利。在市盈率方面，Nvidia 的市盈率為 65，而 Palantir 的市盈率為 170。</p>
</div><p>In short, both stocks carry big premiums today, but Nvidia seems to have the edge here.</p>
<div class="lb-trans"><p>簡而言之，這兩隻股票今天都帶有較大的溢價，但 Nvidia 在這方面似乎更具優勢。</p>
</div><h2>Which is the better buy?</h2>
<div class="lb-trans"><h2>哪一隻股票更值得購買？</h2>
</div><p>Both stocks have earned their gains this year, but the breakdown above makes it clear which one is the winner for investors buying in now. Nvidia is growing faster than Palantir. It's cheaper according to conventional valuation metrics, and its competitive advantages are more entrenched.</p>
<div class="lb-trans"><p>這兩隻股票今年都獲得了收益，但上述分析清楚地表明，哪一隻股票對現在的投資者來説是贏家。Nvidia 的增長速度快於 Palantir。根據傳統的估值指標，它更便宜，其競爭優勢也更為根深蒂固。</p>
</div><p>While both stocks have the potential to continue to outperform over the long term, Nvidia looks like the more reliable business to own here, and it's less at risk of a pullback.</p>
<div class="lb-trans"><p>雖然這兩隻股票在長期內都有繼續超越的潛力，但 Nvidia 看起來是更可靠的投資選擇，並且面臨的回調風險較小。</p>
</div>

Better Artificial Intelligence Stock: Nvidia vs. Palantir

- Palantir 和 Nvidia 是今年 S&P 500 中表現最佳的股票，分別排名第二和第三。  
- Nvidia 在數據中心 GPU 市場佔有 98% 的份額，且其新款 Blackwell 芯片需求強勁。  
- 相比之下，Palantir 的收入增長較慢，但在數據融合領域具備競爭優勢。  

更好的人工智能股票：英偉達 vs. Palantir Tech