<p><strong>英偉達</strong>(NVDA -2.09%) 和 <strong>Palantir</strong>(PLTR -3.72%) 是今年市場上表現最好的兩隻股票，而人工智能是主要原因。</p>
<p>英偉達在這一點上無需多言。這家芯片公司在人工智能熱潮中主導了數據中心 GPU（圖形處理單元）市場，自 2024 年初以來，其股價大約上漲了 10 倍。與此同時，Palantir 作為人工智能軟件領域的最大贏家，其在深度數據挖掘方面的經驗，稱為數據融合，尤其是在去年推出人工智能平台（AIP）後，取得了豐厚的回報。</p>
<p>如下圖所示，這兩隻股票今年都大幅上漲。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/529d66adeb29b13ac280717c90cc6a40.png?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://media.ycharts.com/charts/529d66adeb29b13ac280717c90cc6a40.png"/></p>
<p>PLTR 數據來源於 YCharts</p>
<p>那麼，今天哪隻股票更值得購買呢？讓我們深入瞭解每隻股票的優勢。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDIxODUvc3RvY2stbWFya2V0LWNoYXJ0LmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDIxODUvc3RvY2stbWFya2V0LWNoYXJ0LmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>商業模式：英偉達 vs. Palantir？</h2>
<p>英偉達憑藉其在人工智能領域的實力以及對 CUDA 軟件庫等領域的投資，確立了自己作為領先芯片設計公司的地位，這使其具備了競爭優勢。</p>
<p>由於在以人工智能為重點的組件（如新推出的 Blackwell 平台）方面的巨大領先，英偉達目前的利潤率非常可觀，第三季度的公認會計原則（GAAP）營業利潤率為 62%。</p>
<p>該公司建立了一個專注於創新的明星文化，似乎有望在人工智能芯片領域保持領先。它依賴於 <strong>台灣半導體制造公司</strong> 進行製造，並且容易受到週期性波動和對人工智能泡沫的廣泛擔憂的影響。半導體行業以週期性著稱，價格和庫存水平可能迅速變化。因此，英偉達最大的風險可能是行業動態的變化，這將威脅到其增長，而不是來自競爭的威脅。</p>
<p>Palantir 在 911 事件後開始為美國情報機構提供服務，幫助他們連接數據點以發現他們可能錯過的威脅。此後，Palantir 擴展了其產品系列，專注於滿足各種商業需求，包括加密貨幣、數據保護和防止洗錢。</p>
<p>其主要軟件平台包括 Gotham、Foundry、Apollo 和人工智能平台（AIP）。Gotham 和 Foundry 專注於將大量信息轉化為有用的數據集。</p>
<p>Apollo 是一個為商業客户提供的層，使他們能夠在幾乎任何環境中運行其軟件，而 AIP 與 Gotham 和 Foundry 協同工作，利用機器學習加速洞察。</p>
<p>Palantir 的高薪客户數量相對較少，這意味着它處理的是大型合同。合同的規模和複雜性使得該公司面臨來自其他軟件公司的競爭相對較小。相反，它將客户的內部軟件開發努力視為最大的競爭對手。</p>
<p>與英偉達一樣，Palantir 也面臨整個行業回調的風險，儘管考慮到其業務的專業性質，其競爭地位似乎相對穩固。</p>
<h2>財務狀況：英偉達 vs. Palantir？</h2>
<p>英偉達和 Palantir 都交出了令人印象深刻的業績，但其中一家公司顯然增長更快。</p>
<p>英偉達在第三季度報告了 94% 的收入增長，達到 351 億美元，淨收入為 193 億美元，同比增長 109%。</p>
<p>另一方面，Palantir 報告了 30% 的收入增長，達到 7.26 億美元，在美國及其商業部門表現強勁。淨收入躍升 103%，達到 1.493 億美元，利潤率迅速提升。</p>
<h2>估值：英偉達 vs. Palantir？</h2>
<p>Palantir 今年的爆炸性增長主要來自於市盈率的擴張。因此，該股票的估值非常高。Palantir 目前的市銷率為 75，市盈率為 411（基於 GAAP 收益）。</p>
<p>英偉達的股票看起來更合理。它目前的市銷率為 31，市盈率為 55。</p>
<h2>哪個更值得購買？</h2>
<p>這兩家公司都為投資者提供了很多機會，尤其是在人工智能需求持續增長的情況下，但從整體來看，英偉達是更好的選擇。</p>
<p>Palantir 的業務確實引人注目。它向客户展示了其價值，並似乎擁有顯著的競爭優勢。然而，其估值帶來了重大風險，因為如果未能達到預期，股價可能會大幅下跌。</p>
<p>另一方面，英偉達也看起來有望實現類似的增長，但下行風險較小。</p>

PLTR

英偉達

<p>英偉達和 Palantir 今年表現出色，受益於人工智能的熱潮。英偉達在 GPU 市場佔據主導地位，運營利潤率為 62%，收入增長達到 94%；而 Palantir 專注於數據挖掘，報告的收入增長為 30%。與 Palantir 的高市銷率和市盈率相比，英偉達的估值更為合理。總體而言，儘管 Palantir 在其細分市場具有競爭優勢，但由於英偉達的增長潛力和較低的下行風險，英偉達被認為是更好的投資選擇</p>

<p><strong>Nvidia</strong>(NVDA -2.09%) and <strong>Palantir</strong>(PLTR -3.72%) have been two of the best-performing stocks on the market this year, and artificial intelligence is the major reason.</p>
<div class="lb-trans"><p><strong>英偉達</strong>(NVDA -2.09%) 和 <strong>Palantir</strong>(PLTR -3.72%) 是今年市場上表現最好的兩隻股票，而人工智能是主要原因。</p>
</div><p>Nvidia needs little introduction at this point. The chip stock has come to dominate the market for data center GPUs (graphics processing units) in the AI boom, which has driven its stock price up roughly 10 times since the start of 2024. Palantir, meanwhile, has emerged as the biggest winner in software from AI as its experience with deep data mining, known as data fusion, has paid off, especially since the launch of its artificial intelligence platform (AIP) last year.</p>
<div class="lb-trans"><p>英偉達在這一點上無需多言。這家芯片公司在人工智能熱潮中主導了數據中心 GPU（圖形處理單元）市場，自 2024 年初以來，其股價大約上漲了 10 倍。與此同時，Palantir 作為人工智能軟件領域的最大贏家，其在深度數據挖掘方面的經驗，稱為數據融合，尤其是在去年推出人工智能平台（AIP）後，取得了豐厚的回報。</p>
</div><p>As the chart below shows, both stocks have soared this year.</p>
<div class="lb-trans"><p>如下圖所示，這兩隻股票今年都大幅上漲。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/529d66adeb29b13ac280717c90cc6a40.png" alt="" original-src="https://media.ycharts.com/charts/529d66adeb29b13ac280717c90cc6a40.png"/></p>
<p>PLTR data by YCharts</p>
<div class="lb-trans"><p>PLTR 數據來源於 YCharts</p>
</div><p>So, which is the better buy today? Let's get into the details on what each stock has to offer.</p>
<div class="lb-trans"><p>那麼，今天哪隻股票更值得購買呢？讓我們深入瞭解每隻股票的優勢。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MDIxODUvc3RvY2stbWFya2V0LWNoYXJ0LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F802185%2Fstock-market-chart.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：英偉達 vs. Palantir？</h2>
</div><p>Nvidia has established itself as the leading chip design company, thanks to its prowess in AI and its investments in areas like its CUDA software library, which give it a competitive advantage.</p>
<div class="lb-trans"><p>英偉達憑藉其在人工智能領域的實力以及對 CUDA 軟件庫等領域的投資，確立了自己作為領先芯片設計公司的地位，這使其具備了競爭優勢。</p>
</div><p>As a result of its wide lead in AI-focused components like the new Blackwell platform, Nvidia currently generates massive profit margins with a generally accepted accounting principles (GAAP) operating margin of 62% in the third quarter.</p>
<div class="lb-trans"><p>由於在以人工智能為重點的組件（如新推出的 Blackwell 平台）方面的巨大領先，英偉達目前的利潤率非常可觀，第三季度的公認會計原則（GAAP）營業利潤率為 62%。</p>
</div><p>The company has built an all-star culture focused on innovation, and it seems likely to remain ahead of the competition on AI chips. It depends on foundries like <strong>Taiwan Semiconductor Manufacturing Company</strong> for manufacturing and is vulnerable to cyclicality and broader concerns about a bubble in AI. The semiconductor industry is notoriously cyclical and prices and inventory levels can change quickly. Therefore, Nvidia's greatest risk is likely a change in industry dynamics that would threaten its growth rather than a competitive threat.</p>
<div class="lb-trans"><p>該公司建立了一個專注於創新的明星文化，似乎有望在人工智能芯片領域保持領先。它依賴於 <strong>台灣半導體制造公司</strong> 進行製造，並且容易受到週期性波動和對人工智能泡沫的廣泛擔憂的影響。半導體行業以週期性著稱，價格和庫存水平可能迅速變化。因此，英偉達最大的風險可能是行業動態的變化，這將威脅到其增長，而不是來自競爭的威脅。</p>
</div><p>Palantir got its start serving U.S. intelligence agencies after 9/11, helping them connect data points to find threats they otherwise would have missed. Palantir has since expanded its product suite to specialize in a wide range of business needs, including cryptocurrency, data protection, and the prevention of money laundering.</p>
<div class="lb-trans"><p>Palantir 在 911 事件後開始為美國情報機構提供服務，幫助他們連接數據點以發現他們可能錯過的威脅。此後，Palantir 擴展了其產品系列，專注於滿足各種商業需求，包括加密貨幣、數據保護和防止洗錢。</p>
</div><p>Its principal software platforms include Gotham, Foundry, Apollo, and Artificial Intelligence Platform (AIP). Gotham and Foundry are focused on taking massive amounts of information and making it into a useful dataset.</p>
<div class="lb-trans"><p>其主要軟件平台包括 Gotham、Foundry、Apollo 和人工智能平台（AIP）。Gotham 和 Foundry 專注於將大量信息轉化為有用的數據集。</p>
</div><p>Apollo is a layer for commercial customers that allows them to run their software in nearly any environment, and AIP works with Gotham and Foundry to use machine learning to accelerate insights.</p>
<div class="lb-trans"><p>Apollo 是一個為商業客户提供的層，使他們能夠在幾乎任何環境中運行其軟件，而 AIP 與 Gotham 和 Foundry 協同工作，利用機器學習加速洞察。</p>
</div><p>Palantir has a relatively small number of high-paying customers, meaning it deals in large contracts. The size and complexity of its contracts mean the company faces relatively little competition from other software companies. Instead, it sees the internal software development efforts of its customers as its biggest competitor.</p>
<div class="lb-trans"><p>Palantir 的高薪客户數量相對較少，這意味着它處理的是大型合同。合同的規模和複雜性使得該公司面臨來自其他軟件公司的競爭相對較小。相反，它將客户的內部軟件開發努力視為最大的競爭對手。</p>
</div><p>Like Nvidia, Palantir is also at risk of a sectorwide pullback, though its competitive position seems resilient, given the specialized nature of its business.</p>
<div class="lb-trans"><p>與英偉達一樣，Palantir 也面臨整個行業回調的風險，儘管考慮到其業務的專業性質，其競爭地位似乎相對穩固。</p>
</div><h2>Financials: Nvidia vs. Palantir?</h2>
<div class="lb-trans"><h2>財務狀況：英偉達 vs. Palantir？</h2>
</div><p>Both Nvidia and Palantir have delivered impressive results, but one company is clearly growing faster than the other.</p>
<div class="lb-trans"><p>英偉達和 Palantir 都交出了令人印象深刻的業績，但其中一家公司顯然增長更快。</p>
</div><p>Nvidia reported 94% revenue growth in the third quarter to $35.1 billion, with $19.3 billion in net income, up 109% from the year before.</p>
<div class="lb-trans"><p>英偉達在第三季度報告了 94% 的收入增長，達到 351 億美元，淨收入為 193 億美元，同比增長 109%。</p>
</div><p>Palantir, on the other hand, reported 30% revenue growth to $726 million with strong results in the U.S. and its commercial segment. Net income jumped 103% to $149.3 million as its margins rapidly scaled up.</p>
<div class="lb-trans"><p>另一方面，Palantir 報告了 30% 的收入增長，達到 7.26 億美元，在美國及其商業部門表現強勁。淨收入躍升 103%，達到 1.493 億美元，利潤率迅速提升。</p>
</div><h2>Valuation: Nvidia vs. Palantir?</h2>
<div class="lb-trans"><h2>估值：英偉達 vs. Palantir？</h2>
</div><p>Palantir's explosive growth this year has come largely from multiple expansions. As a result, the stock is trading at a sky-high valuation. Palantir now trades at a price-to-sales ratio of 75 and a price-to-earnings ratio of 411 based on GAAP earnings.</p>
<div class="lb-trans"><p>Palantir 今年的爆炸性增長主要來自於市盈率的擴張。因此，該股票的估值非常高。Palantir 目前的市銷率為 75，市盈率為 411（基於 GAAP 收益）。</p>
</div><p>Nvidia stock looks more reasonable. It currently trades at a price-to-sales ratio of 31 and a price-to-earnings ratio of 55.</p>
<div class="lb-trans"><p>英偉達的股票看起來更合理。它目前的市銷率為 31，市盈率為 55。</p>
</div><h2>Which is the better buy?</h2>
<div class="lb-trans"><h2>哪個更值得購買？</h2>
</div><p>Both of these companies have a lot to offer investors, especially if demand for AI continues to grow, but looking at both stocks holistically, Nvidia is the better buy.</p>
<div class="lb-trans"><p>這兩家公司都為投資者提供了很多機會，尤其是在人工智能需求持續增長的情況下，但從整體來看，英偉達是更好的選擇。</p>
</div><p>Palantir's business is certainly intriguing. It's demonstrated its value to customers and seems to have a meaningful competitive advantage. However, its valuation presents a significant risk as the stock could easily plunge if it misses expectations.</p>
<div class="lb-trans"><p>Palantir 的業務確實引人注目。它向客户展示了其價值，並似乎擁有顯著的競爭優勢。然而，其估值帶來了重大風險，因為如果未能達到預期，股價可能會大幅下跌。</p>
</div><p>Nvidia, on the other hand, also looks poised for similar growth but with less downside risk.</p>
<div class="lb-trans"><p>另一方面，英偉達也看起來有望實現類似的增長，但下行風險較小。</p>
</div>

Better AI Stock: Nvidia vs. Palantir?

- Nvidia 和 Palantir 是今年表現最佳的股票，主要受益於人工智能。  
- Nvidia 第三季度收入增長 94%，淨收入達 193 億美元；Palantir 收入增長 30%，淨收入 1.49 億美元。  
- 綜合考慮，Nvidia 被認為是更好的投資選擇。  

哪隻 AI 股票更好：英偉達 vs. Palantir Tech？