<p>投資者常常會在腦海中形成一個想法並全力以赴，推動價格達到不切實際的極端。這就是今天投資者在人工智能領域應該擔心的風險。<strong>英偉達</strong>(NVDA 0.28%) 幾乎是人工智能行業的代表，華爾街對管理層的每一句話都密切關注。但這並不意味着它對每位投資者都是一個好的選擇。以下是你可能更傾向於選擇高收益的 <strong>道明尼資源</strong>(D -0.27%) 的原因。</p>
<h2>每個人都想參與人工智能革命</h2>
<p>人工智能在許多方面都令人印象深刻，並且發展速度非常快。幾乎每個大型企業都開始使用或至少嘗試這種技術。幾乎每天都有關於人工智能的報道出現在金融報紙、網站或電視頻道上。這是一個吸引華爾街的宏觀趨勢。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTczMTQvMjRfMDRfMDMtYW4taW1hZ2Utb2YtYS1yb2NrZXQtc2hpcC1qdW1waW5nLXVwLXN0YWlycy1fbWYtZGxvYWQtZ2V0dHlpbWFnZXMtMTQ2NDIzMjQ1Ni0xMTY5eDgwMC1hYWI3ZmRmLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTczMTQvMjRfMDRfMDMtYW4taW1hZ2Utb2YtYS1yb2NrZXQtc2hpcC1qdW1waW5nLXVwLXN0YWlycy1fbWYtZGxvYWQtZ2V0dHlpbWFnZXMtMTQ2NDIzMjQ1Ni0xMTY5eDgwMC1hYWI3ZmRmLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<p>這有其合理的原因，但目前仍不清楚這項技術在長期內將產生多大的影響。同樣重要的是，目前也不清楚哪些公司最終會成為贏家或輸家。今天，芯片製造商英偉達是一個明顯的領導者，製造着人工智能的 “大腦”。令人震驚的是，英偉達的估值目前似乎並不算過於極端，其市銷率和市盈率目前均低於五年平均水平。</p>
<p>也就是説，英偉達的 39 倍市盈率高於科技行業大約 33 倍的平均水平。因此，稱這隻股票便宜也不公平。別忘了，行業中的早期領導者並不總是能夠保持領先地位。看看雅虎，它曾是首選的搜索引擎，但最終被 <strong>谷歌</strong> 取代。</p>
<p>換句話説，今天投資英偉達可能看起來是個好主意，但它仍然伴隨着一些風險。在人工智能方面，還有另一個選擇，那就是投資像道明尼資源這樣的受監管電力公用事業。</p>
<h2>為什麼選擇道明尼而不是英偉達？</h2>
<p>如果你想直接投資人工智能，英偉達將比道明尼更好。但這裏有一個重要的重疊，因為人工智能離不開電力。事實上，數據中心對電力的需求預計將在未來 10 年內增長 300%，以滿足人工智能行業的增長。這將需要對電網進行大量資本投資，從而推動公用事業的增長。</p>
<p>在這方面，道明尼是一隻有趣的股票。首先，它經歷了一次企業重組，現在成為一家純粹的受監管電力公用事業。然而，在此過程中，股息被削減，當前的股息率可能在未來幾年內保持不變，同時公司將其股息支付比率逐步降低至行業平均水平。這隻股票不受歡迎，提供 4.9% 的股息收益率，而公用事業的平均水平為 2.9%，英偉達的股息收益率僅為 0.05% 左右。</p>
<p>如果你是一個股息投資者，你會發現道明尼顯然比英偉達更具吸引力。但這裏有一個有趣的變化。道明尼在全球最大的一個數據中心市場中擁有壟斷地位。為了突出這一點，它在 2024 年 7 月至 2024 年 12 月期間，數據中心的需求增長了 88%。這是該公用事業長期預測 5% 至 7% 收益增長的核心支柱。</p>
<p>這是一個對公用事業來説不錯的數字，如果管理層能夠實現這一目標，華爾街最終會給予道明尼更高的估值。這種增長也將導致股息增長的最終恢復，這也將受到投資者的青睞。換句話説，道明尼是一種低風險的轉型故事，帶有人工智能的元素。對於長期的股息投資者來説，這可能比購買英偉達並希望其在人工智能領域保持領先地位更具吸引力。</p>
<h2>退一步考慮你的人工智能選擇</h2>
<p>公平地説，道明尼並不是人工智能領域唯一的電力投資。還有其他公用事業公司將受益，還有一些新的科技初創公司。例如，<strong>Bloom Energy</strong> 提供的電池可以比電力線路更快部署。而 <strong>NuScale Power</strong> 則試圖圍繞小型核反應堆建立業務，這些反應堆可以放置在人工智能數據中心旁邊。但如果你想投資人工智能，但又無法忍受擁有波動性科技股票，考慮道明尼所提供的風險與回報的組合，尤其是其高股息收益率，是很難忽視的。</p>

英偉達財報，一站看懂！

道明尼資源

英偉達

<p>投資者正在權衡英偉達和道明尼資源作為人工智能投資選項的優缺點。英偉達作為人工智能技術的領導者，市盈率較高，但並不被認為過於昂貴。然而，投資英偉達存在風險，因為科技領域的早期領導者可能會失利。相反，道明尼資源作為一家受監管的公用事業公司，提供 4.9% 的股息收益率，並且有望受益於人工智能數據中心對電力日益增長的需求。道明尼在一個主要數據中心市場中擁有壟斷地位，提供了一個較低風險的投資機會，具有盈利增長和股息恢復的潛力，吸引了長期股息投資者</p>

<p>Investors often get an idea in their heads and run with it, pushing prices to extremes that aren't realistic. That's the risk that investors should fear today with artificial intelligence. <strong>Nvidia</strong>(NVDA 0.28%) is pretty much the poster child of the AI industry, with Wall Street hanging on every word the management says. But it won't be a good AI choice for every investor. Here's why you may prefer high-yield <strong>Dominion Energy</strong>(D -0.27%) instead.</p>
<div class="lb-trans"><p>投資者常常會在腦海中形成一個想法並全力以赴，推動價格達到不切實際的極端。這就是今天投資者在人工智能領域應該擔心的風險。<strong>英偉達</strong>(NVDA 0.28%) 幾乎是人工智能行業的代表，華爾街對管理層的每一句話都密切關注。但這並不意味着它對每位投資者都是一個好的選擇。以下是你可能更傾向於選擇高收益的 <strong>道明尼資源</strong>(D -0.27%) 的原因。</p>
</div><h2>Everybody wants in on the AI revolution</h2>
<div class="lb-trans"><h2>每個人都想參與人工智能革命</h2>
</div><p>Artificial intelligence is impressive in many ways, and it has been developing very quickly, as well. Just about every major corporation has started to use, or at least experiment with, the technology. There probably isn't a day that goes by that AI isn't given space in a financial newspaper, website, or television channel. It is one of those big-picture trends that has captivated Wall Street.</p>
<div class="lb-trans"><p>人工智能在許多方面都令人印象深刻，並且發展速度非常快。幾乎每個大型企業都開始使用或至少嘗試這種技術。幾乎每天都有關於人工智能的報道出現在金融報紙、網站或電視頻道上。這是一個吸引華爾街的宏觀趨勢。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTczMTQvMjRfMDRfMDMtYW4taW1hZ2Utb2YtYS1yb2NrZXQtc2hpcC1qdW1waW5nLXVwLXN0YWlycy1fbWYtZGxvYWQtZ2V0dHlpbWFnZXMtMTQ2NDIzMjQ1Ni0xMTY5eDgwMC1hYWI3ZmRmLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F817314%2F24_04_03-an-image-of-a-rocket-ship-jumping-up-stairs-_mf-dload-gettyimages-1464232456-1169x800-aab7fdf.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><p>There are good reasons for that, but it still isn't clear just how impactful the technology will be in the long run. And, equally important, it isn't clear what companies will end up being the big winners or the big losers. Today, chipmaker Nvidia is a clear leader, making what amounts to the &#34;brains&#34; of AI. And shockingly, Nvidia's valuation doesn't seem overly extreme right now, with its price-to-sales and price-to-earnings ratios both currently below their five-year averages.</p>
<div class="lb-trans"><p>這有其合理的原因，但目前仍不清楚這項技術在長期內將產生多大的影響。同樣重要的是，目前也不清楚哪些公司最終會成為贏家或輸家。今天，芯片製造商英偉達是一個明顯的領導者，製造着人工智能的 “大腦”。令人震驚的是，英偉達的估值目前似乎並不算過於極端，其市銷率和市盈率目前均低於五年平均水平。</p>
</div><p>That said, Nvidia's 39x P/E ratio is above the technology sector's average of around 33x. So it wouldn't be fair to call the stock cheap, either. And don't forget that the early leaders in an industry don't always remain the leaders. Just look at Yahoo!, which was once the go-to search engine but eventually got replaced by <strong>Alphabet's</strong> Google search tool.</p>
<div class="lb-trans"><p>也就是説，英偉達的 39 倍市盈率高於科技行業大約 33 倍的平均水平。因此，稱這隻股票便宜也不公平。別忘了，行業中的早期領導者並不總是能夠保持領先地位。看看雅虎，它曾是首選的搜索引擎，但最終被 <strong>谷歌</strong> 取代。</p>
</div><p>In other words, investing in Nvidia today may seem like a good idea, but it still comes with some risks. There's another option when it comes to AI, and that's buying a regulated electric utility like Dominion Energy.</p>
<div class="lb-trans"><p>換句話説，今天投資英偉達可能看起來是個好主意，但它仍然伴隨着一些風險。在人工智能方面，還有另一個選擇，那就是投資像道明尼資源這樣的受監管電力公用事業。</p>
</div><h2>Why choose Dominion over Nvidia?</h2>
<div class="lb-trans"><h2>為什麼選擇道明尼而不是英偉達？</h2>
</div><p>If you want to invest directly in AI, Nvidia will be a better option than Dominion. But there's an important overlap here because AI can't exist without electricity. In fact, data center demand for power is expected to expand by 300% over the next 10 years to satisfy the AI industry's growth. That is going to require material capital investment in the power grid and, in turn, lead to growth for utilities.</p>
<div class="lb-trans"><p>如果你想直接投資人工智能，英偉達將比道明尼更好。但這裏有一個重要的重疊，因為人工智能離不開電力。事實上，數據中心對電力的需求預計將在未來 10 年內增長 300%，以滿足人工智能行業的增長。這將需要對電網進行大量資本投資，從而推動公用事業的增長。</p>
</div><p>Dominion is an interesting stock in this regard. For starters, it has gone through a corporate repositioning that has resulted in it now being a pure-play regulated electric utility. However, along the way, the dividend was cut and the current rate is likely to stay the same for a few years while the company brings its dividend payout ratio back down toward the industry average. The stock is out of favor, offering a dividend yield of 4.9% versus the utility average of 2.9% and Nvidia's itty bitty 0.05% or so.</p>
<div class="lb-trans"><p>在這方面，道明尼是一隻有趣的股票。首先，它經歷了一次企業重組，現在成為一家純粹的受監管電力公用事業。然而，在此過程中，股息被削減，當前的股息率可能在未來幾年內保持不變，同時公司將其股息支付比率逐步降低至行業平均水平。這隻股票不受歡迎，提供 4.9% 的股息收益率，而公用事業的平均水平為 2.9%，英偉達的股息收益率僅為 0.05% 左右。</p>
</div><p>If you are a dividend investor you will clearly find Dominion more attractive than Nvidia. But there's an interesting wrinkle here. Dominion has a monopoly in one of the largest data center markets on the planet. To highlight that, it witnessed 88% growth in demand from data centers between July 2024 and December 2024. This is a core pillar behind the utility's long-term projection of 5% to 7% earnings growth.</p>
<div class="lb-trans"><p>如果你是一個股息投資者，你會發現道明尼顯然比英偉達更具吸引力。但這裏有一個有趣的變化。道明尼在全球最大的一個數據中心市場中擁有壟斷地位。為了突出這一點，它在 2024 年 7 月至 2024 年 12 月期間，數據中心的需求增長了 88%。這是該公用事業長期預測 5% 至 7% 收益增長的核心支柱。</p>
</div><p>That's a good number for a utility, and if management can achieve that goal Wall Street will eventually afford Dominion a higher valuation. That kind of growth will also lead to an eventual resumption of dividend growth, which will also be viewed favorably by investors. In other words, Dominion is something of a low-risk turnaround story with an AI twist. For long-term dividend investors that will probably be a much more attractive opportunity than buying Nvidia and hoping that it remains in the pole position in AI indefinitely.</p>
<div class="lb-trans"><p>這是一個對公用事業來説不錯的數字，如果管理層能夠實現這一目標，華爾街最終會給予道明尼更高的估值。這種增長也將導致股息增長的最終恢復，這也將受到投資者的青睞。換句話説，道明尼是一種低風險的轉型故事，帶有人工智能的元素。對於長期的股息投資者來説，這可能比購買英偉達並希望其在人工智能領域保持領先地位更具吸引力。</p>
</div><h2>Step back and consider you AI options</h2>
<div class="lb-trans"><h2>退一步考慮你的人工智能選擇</h2>
</div><p>To be fair, Dominion isn't the only electricity play in the AI sector. There are other utilities that will benefit and some new technology upstarts, too. For example <strong>Bloom Energy</strong> offers power cells that can be deployed more quickly than power lines can be built. And <strong>NuScale Power</strong> is attempting to build a business around small scale nuclear reactors that could be placed right next to AI data centers. But the combination of risk and reward, notably including the stock's lofty dividend yield, Dominion offers is hard to ignore if you want to invest in AI but can't quite stomach owning a volatile technology stock.</p>
<div class="lb-trans"><p>公平地説，道明尼並不是人工智能領域唯一的電力投資。還有其他公用事業公司將受益，還有一些新的科技初創公司。例如，<strong>Bloom Energy</strong> 提供的電池可以比電力線路更快部署。而 <strong>NuScale Power</strong> 則試圖圍繞小型核反應堆建立業務，這些反應堆可以放置在人工智能數據中心旁邊。但如果你想投資人工智能，但又無法忍受擁有波動性科技股票，考慮道明尼所提供的風險與回報的組合，尤其是其高股息收益率，是很難忽視的。</p>
</div>

Better AI Dividend Stock: Nvidia or Dominion

- 投資者對人工智能的熱情推動了相關股票價格的極端波動。  
- Nvidia 是 AI 行業的領軍企業，但其估值並不便宜。  
- Dominion Energy 提供穩定的股息和數據中心市場的增長潛力。  

哪隻 AI 股息股票更好：NVIDIA 還是 Dominion Energy