<p>人工智能（AI）在過去幾年中為股市帶來了巨大的推動。全球各地的公司和政府由於其顛覆性特徵，正在迅速採用這項技術，尤其是考慮到它預計在長期內將帶來顯著的生產力提升。</p>
<p>市場研究公司 IDC 預測，到 2030 年，每花費 1 美元在 AI 上，可能為全球經濟創造 4.60 美元的價值。因此，未來五年內，AI 硬件和軟件的強勁需求將不會令人驚訝。<strong>Nvidia</strong> 一直是 AI 領域的先驅之一，因為該公司的強大芯片使客户能夠訓練和部署大型語言模型（LLMs）和應用程序。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="393" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>Nvidia 的股票在 5 月可能會迎來一波上漲...</h2>
<p>這家芯片製造商是最大的 AI 芯片公司，預計在 2025 財年收入將達到 1305 億美元，增長了驚人的 114%。重要的是，Nvidia 有能力在未來很長一段時間內維持其令人印象深刻的增長勢頭，這得益於巨大的可尋址市場。然而，由於對其芯片出口到中國的限制、AI 芯片市場競爭加劇、AI 基礎設施支出可能下降以及關税引發的貿易戰的影響，今年該股票一直承壓。</p>
<p>好的一面是，投資者現在可以以有吸引力的估值購買這一潛在的長期贏家，尤其是考慮到它可能在 5 月發佈即將到來的業績後恢復活力。然而，還有另一家 AI 芯片公司看起來比 Nvidia 更值得購買。</p>
<p>讓我們更仔細地看看這個名字。</p>
<h2>...但這家高增長公司值得大量購買</h2>
<p><strong>Marvell Technology</strong>（MRVL -8.08%）設計應用特定集成電路（ASIC）和網絡芯片，這些芯片用於數據中心、企業網絡、電信網絡以及汽車、工業和消費應用。該公司的數據中心業務現在是其最大的收入來源。</p>
<p>在 2025 財年第四季度（截至 2 月 1 日），Marvell 的 75% 收入來自數據中心芯片的銷售。由於強勁的 AI 驅動需求，該部門的收入同比增長了驚人的 78%。Marvell 指出，其在財年中的 AI 收入遠高於最初設定的 15 億美元目標，並預計將在 2026 財年 “顯著超過” 25 億美元的收入目標。</p>
<p>Marvell 的 AI 收入的這一巨大增長將推動公司收入和盈利的卓越增長。共識預測預計該公司在當前財年的收入將增長 42%，達到 82 億美元。這將比上一財年的 5% 收入增長有顯著改善。更好的是，分析師預計 Marvell 的健康收入增長將在未來幾個財年繼續。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="380" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png"/></p>
<p>MRVL 當前財年收入預測數據來自 YCharts。</p>
<p>這也將轉化為出色的底線增長。預計 Marvell 的每股收益將在當前財年增長 78%，達到 2.80 美元，隨後在未來幾年繼續健康增長。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="380" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png"/></p>
<p>MRVL 當前財年每股收益預測數據來自 YCharts。</p>
<p>很容易看出，分析師為何對這家公司期待如此令人印象深刻的增長。畢竟，定製 AI 處理器和芯片的需求正在增加，因為與通用計算芯片（如圖形處理單元 GPU）相比，它們在執行特定任務時更高效。因此，定製 AI 處理器可以幫助降低運營成本，這就是為什麼像 <strong>亞馬遜</strong> 等公司一直在與 Marvell 合作開發這些芯片。</p>
<p>Marvell 指出，目前它有兩個高容量客户使用其定製 AI 芯片。預計未來將從這些客户那裏獲得更多業務，因為他們可能會採用 Marvell 下一代定製 AI 處理器。Marvell 還引入了第三個客户，預計將在明年開始向其發貨 AI 芯片。</p>
<p>展望未來，Marvell 有很大機會吸引更多定製 AI 芯片的客户。這是因為該公司在產品開發方面不斷突破，已經開發出用於製造定製 AI 芯片和網絡組件的 2 納米（nm）工藝節點。Marvell 目前提供基於 3nm 平台的芯片，轉向更小的 2nm 工藝理想情況下應能實現 15% 的性能提升和 30% 的功耗降低。</p>
<p>這一新工藝節點將使 Marvell 在快速增長的定製 AI 芯片市場中處於有利地位，該市場預計到 2028 年將以 45% 的年增長率增長至 430 億美元。此外，該公司預計藉助其下一代芯片將佔據這一快速增長細分市場的更大份額。具體而言，Marvell 管理層認為，該公司在數據中心芯片市場的份額可能從 2023 年的 10% 翻倍至 2028 年的 20%。</p>
<p>因此，不要驚訝於看到 Marvell 在未來幾個財年保持健康的增長速度。它的前瞻性市盈率不到 23 倍，而 Nvidia 的前瞻性市盈率為 26 倍。因此，考慮到預計將帶來的巨大盈利增長，投資者現在可以以非常有吸引力的水平購買 Marvell。他們可能不想錯過這個機會，因為 Marvell 的長期前景表明，它可能在很長一段時間內提供穩健的股價上漲。</p>

邁威爾科技

<p>這篇文章討論了人工智能（AI）在股市中日益重要的地位，強調了邁威爾科技（Marvell Technology）作為 5 月份值得購買的頂級 AI 股票，超越了英偉達（Nvidia）。邁威爾的數據中心芯片收入同比激增 78%，這得益於強勁的 AI 需求，預計未來幾年將實現顯著增長。分析師預測，邁威爾在當前財政年度的收入將增長 42%，每股收益將躍升 78%。該公司還通過新的 2 納米芯片工藝推進其技術，提升了性能和效率</p>

<p>Artificial intelligence (AI) has given the stock market a big boost in the past couple of years. Companies and governments around the globe have been rapidly adopting this technology thanks to its disruptive nature, especially considering the significant productivity gains that it is projected to deliver in the long run.</p>
<div class="lb-trans"><p>人工智能（AI）在過去幾年中為股市帶來了巨大的推動。全球各地的公司和政府由於其顛覆性特徵，正在迅速採用這項技術，尤其是考慮到它預計在長期內將帶來顯著的生產力提升。</p>
</div><p>Market research firm IDC predicts that each dollar spent on AI could generate $4.60 worth of value for the global economy in 2030. As a result, it won't be surprising to see the strong demand for AI hardware and software continue over the next five years. <strong>Nvidia</strong> has been one of the pioneers in the field of AI, as the company's powerful chips have allowed customers to train and deploy large language models (LLMs) and applications.</p>
<div class="lb-trans"><p>市場研究公司 IDC 預測，到 2030 年，每花費 1 美元在 AI 上，可能為全球經濟創造 4.60 美元的價值。因此，未來五年內，AI 硬件和軟件的強勁需求將不會令人驚訝。<strong>Nvidia</strong> 一直是 AI 領域的先驅之一，因為該公司的強大芯片使客户能夠訓練和部署大型語言模型（LLMs）和應用程序。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTcxNDIvYXJ0aWZpY2lhbC1pbnRlbGxpZ2VuY2UtY2VudHJhbC1wcm9jZXNzaW5nLXVuaXQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817142%2Fartificial-intelligence-central-processing-unit.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>Nvidia stock could get a nice shot in the arm in May...</h2>
<div class="lb-trans"><h2>Nvidia 的股票在 5 月可能會迎來一波上漲...</h2>
</div><p>The chipmaker is the biggest AI chip company out there, witnessing a whopping 114% increase in revenue in fiscal 2025 to $130.5 billion. Importantly, Nvidia has the ability to sustain its impressive growth momentum for a long time to come, thanks to a massive addressable market. However, the stock has been under pressure this year, thanks to restrictions on exports of its chips to China, the rising competition in the AI chip market, a potential drop in AI infrastructure spending, and the fallout of the tariff-fueled trade war.</p>
<div class="lb-trans"><p>這家芯片製造商是最大的 AI 芯片公司，預計在 2025 財年收入將達到 1305 億美元，增長了驚人的 114%。重要的是，Nvidia 有能力在未來很長一段時間內維持其令人印象深刻的增長勢頭，這得益於巨大的可尋址市場。然而，由於對其芯片出口到中國的限制、AI 芯片市場競爭加劇、AI 基礎設施支出可能下降以及關税引發的貿易戰的影響，今年該股票一直承壓。</p>
</div><p>The good part is that investors can buy this potential long-term winner at an attractive valuation right now, especially considering that it could regain its mojo in May following the release of its upcoming results. However, there is another AI chip company that looks like a better buy than Nvidia.</p>
<div class="lb-trans"><p>好的一面是，投資者現在可以以有吸引力的估值購買這一潛在的長期贏家，尤其是考慮到它可能在 5 月發佈即將到來的業績後恢復活力。然而，還有另一家 AI 芯片公司看起來比 Nvidia 更值得購買。</p>
</div><p>Let's take a closer look at that name.</p>
<div class="lb-trans"><p>讓我們更仔細地看看這個名字。</p>
</div><h2>...but this high-growth company is worth buying hand over fist</h2>
<div class="lb-trans"><h2>...但這家高增長公司值得大量購買</h2>
</div><p><strong>Marvell Technology</strong>(MRVL -8.08%) designs application-specific integrated circuits (ASICs) and networking chips that are used in data centers, enterprise networking, telecom networks, and automotive, industrial, and consumer applications. The company's data center business is now its biggest source of revenue.</p>
<div class="lb-trans"><p><strong>Marvell Technology</strong>（MRVL -8.08%）設計應用特定集成電路（ASIC）和網絡芯片，這些芯片用於數據中心、企業網絡、電信網絡以及汽車、工業和消費應用。該公司的數據中心業務現在是其最大的收入來源。</p>
</div><p>Marvell got 75% of its top line from sales of data center chips in the fourth quarter of fiscal 2025 (which ended on Feb. 1). The segment's revenue shot up a remarkable 78% year over year on the back of strong AI-fueled demand. Marvell points out that its AI revenue during the fiscal year was well above its original target of $1.5 billion, and it expects to &#34;significantly exceed&#34; its $2.5 billion revenue target for fiscal 2026.</p>
<div class="lb-trans"><p>在 2025 財年第四季度（截至 2 月 1 日），Marvell 的 75% 收入來自數據中心芯片的銷售。由於強勁的 AI 驅動需求，該部門的收入同比增長了驚人的 78%。Marvell 指出，其在財年中的 AI 收入遠高於最初設定的 15 億美元目標，並預計將在 2026 財年 “顯著超過” 25 億美元的收入目標。</p>
</div><p>This massive spurt in Marvell's AI revenue is set to drive outstanding growth in the company's revenue and earnings. Consensus estimates are projecting a 42% spike in the company's revenue in the current fiscal year, to $8.2 billion. That would be a major improvement over the 5% revenue growth it clocked in the previous fiscal year. Even better, analysts are expecting Marvell's healthy revenue growth to continue over the next couple of fiscal years as well.</p>
<div class="lb-trans"><p>Marvell 的 AI 收入的這一巨大增長將推動公司收入和盈利的卓越增長。共識預測預計該公司在當前財年的收入將增長 42%，達到 82 億美元。這將比上一財年的 5% 收入增長有顯著改善。更好的是，分析師預計 Marvell 的健康收入增長將在未來幾個財年繼續。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png" alt="" original-src="https://media.ycharts.com/charts/4b7f1198825aa482c2ea11ed63884c07.png"/></p>
<p>MRVL Revenue Estimates for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MRVL 當前財年收入預測數據來自 YCharts。</p>
</div><p>This is set to translate into terrific bottom-line growth as well. Marvell's earnings are forecasted to jump by 78% in the current fiscal year to $2.80 per share, followed by healthy growth over the next couple of years.</p>
<div class="lb-trans"><p>這也將轉化為出色的底線增長。預計 Marvell 的每股收益將在當前財年增長 78%，達到 2.80 美元，隨後在未來幾年繼續健康增長。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png" alt="" original-src="https://media.ycharts.com/charts/a6e5e228328a7f4865687dddafe1d368.png"/></p>
<p>MRVL EPS Estimates for Current Fiscal Year data by YCharts.</p>
<div class="lb-trans"><p>MRVL 當前財年每股收益預測數據來自 YCharts。</p>
</div><p>It's easy to see why analysts are expecting such impressive growth from this company. After all, the demand for custom AI processors and chips has been increasing, as they're more efficient in carrying out the specific tasks they're designed for when compared to general-purpose computing chips such as graphics processing units (GPUs). As a result, custom AI processors can help lower operating costs, which is why the likes of <strong>Amazon</strong> and others have been developing these chips with Marvell's help.</p>
<div class="lb-trans"><p>很容易看出，分析師為何對這家公司期待如此令人印象深刻的增長。畢竟，定製 AI 處理器和芯片的需求正在增加，因為與通用計算芯片（如圖形處理單元 GPU）相比，它們在執行特定任務時更高效。因此，定製 AI 處理器可以幫助降低運營成本，這就是為什麼像 <strong>亞馬遜</strong> 等公司一直在與 Marvell 合作開發這些芯片。</p>
</div><p>Marvell points out that it currently has two high-volume customers for its custom AI chips. It expects to gain more business from these customers in the future, as they are likely to adopt the next generation of Marvell's custom AI processors. Marvell has brought onboard a third customer as well, to whom it will start shipping its AI chips next year.</p>
<div class="lb-trans"><p>Marvell 指出，目前它有兩個高容量客户使用其定製 AI 芯片。預計未來將從這些客户那裏獲得更多業務，因為他們可能會採用 Marvell 下一代定製 AI 處理器。Marvell 還引入了第三個客户，預計將在明年開始向其發貨 AI 芯片。</p>
</div><p>Looking ahead, there's a good chance that Marvell could attract even more customers for custom AI chips. That's because the company is pushing the envelope on the product development front and has developed a 2-nanometer (nm) node for manufacturing custom AI chips and networking components. Marvell currently offers chips based on a 3nm platform, and the move to the smaller 2nm process should ideally result in 15% performance gains and 30% lower power consumption.</p>
<div class="lb-trans"><p>展望未來，Marvell 有很大機會吸引更多定製 AI 芯片的客户。這是因為該公司在產品開發方面不斷突破，已經開發出用於製造定製 AI 芯片和網絡組件的 2 納米（nm）工藝節點。Marvell 目前提供基於 3nm 平台的芯片，轉向更小的 2nm 工藝理想情況下應能實現 15% 的性能提升和 30% 的功耗降低。</p>
</div><p>This new process node should put Marvell in a solid position to make the most of the fast-growing custom AI chip market, which it projects is on track to grow at a 45% annual rate through 2028 to $43 billion. Moreover, the company expects to corner a bigger share of this fast-growing niche with the help of its next-generation chips. Specifically, Marvell management believes that the company's share of the data center chip market could double to 20% in 2028 from 10% in 2023.</p>
<div class="lb-trans"><p>這一新工藝節點將使 Marvell 在快速增長的定製 AI 芯片市場中處於有利地位，該市場預計到 2028 年將以 45% 的年增長率增長至 430 億美元。此外，該公司預計藉助其下一代芯片將佔據這一快速增長細分市場的更大份額。具體而言，Marvell 管理層認為，該公司在數據中心芯片市場的份額可能從 2023 年的 10% 翻倍至 2028 年的 20%。</p>
</div><p>So, don't be surprised to see Marvell maintaining a healthy pace of growth beyond the next couple of fiscal years. It's trading at less than 23 times forward earnings, compared to Nvidia's forward earnings multiple of 26. So investors can buy Marvell at very attractive levels right now, considering the big earnings jump it's expected to deliver. They may not want to pass up such an opportunity this month, as Marvell's long-term outlook indicates that it could deliver solid stock price upside for a long time to come.</p>
<div class="lb-trans"><p>因此，不要驚訝於看到 Marvell 在未來幾個財年保持健康的增長速度。它的前瞻性市盈率不到 23 倍，而 Nvidia 的前瞻性市盈率為 26 倍。因此，考慮到預計將帶來的巨大盈利增長，投資者現在可以以非常有吸引力的水平購買 Marvell。他們可能不想錯過這個機會，因為 Marvell 的長期前景表明，它可能在很長一段時間內提供穩健的股價上漲。</p>
</div>

Here Is My Top Artificial Intelligence (AI) Stock to Buy in May (Hint: It's Not Nvidia)

- 人工智能推動股市增長，預計 2030 年每美元投資可創造 4.60 美元價值。  
- Nvidia 和 Marvell 在 AI 芯片市場表現突出，Marvell 預計 2026 年收入將顯著超出目標。  
- Marvell 的定製 AI 芯片需求上升，預計未來幾年將持續增長。  

這是我在五月份推薦購買的頂級人工智能（AI）股票（提示：不是英偉達）