<p>凱西·伍德以投資新興（如果不是投機性）技術而聞名，例如基因組學和飛行電動出租車。如果你稍微瀏覽一下她在 ARK Invest 的投資組合，你可能會對她最大的持倉感到陌生。</p>
<p>然而，時不時地，會出現一些連伍德也無法錯過的主流機會。讓我們探討一下她最近在人工智能（AI）方面的投資情況，更具體地説，她關注了哪些半導體股票。</p>
<h2>凱西·伍德最近一直在尋找芯片股票</h2>
<p>ARK Invest 為投資者提供了八種不同的交易所交易基金（ETFs），每種基金專注於特定主題。根據 ARK 的網站，投資組合中最大的持倉包括 <strong>特斯拉</strong>、<strong>Coinbase Global</strong>、<strong>Roku</strong>、<strong>Palantir Technologies</strong>、<strong>Robinhood Markets</strong> 和 <strong>Archer Aviation</strong>。這些公司都吸引了忠實的追隨者——主要來自零售投資者——但伍德還用一些藍籌企業來補充這些持倉。</p>
<p>在主流 AI 股票方面，她持有 “七大巨頭” 中的 <strong>亞馬遜</strong> 和 <strong>Alphabet</strong> 的股份。我的猜測是？她正在用已經證明 AI 驅動服務對其業務有多麼有利可圖的雲計算巨頭來對沖她更具投機性的持倉。</p>
<p>不過，除了上述公司，我注意到伍德在過去幾個月的買入模式中出現了一些小趨勢。具體來説，ARK 一直在用芯片股票來完善其 AI 投資。她似乎在今年早些時候的納斯達克拋售期間重新與 <strong>Nvidia</strong> 建立了關係，最近又在 <strong>Advanced Micro Devices</strong>（AMD）上買入了下跌。</p>
<p>現在，這位成長型投資者剛剛對另一隻 AI 芯片股票進行了投資，我認為這可能是她迄今為止最聰明的舉動。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>伍德剛剛買入了哪隻巨頭 AI 半導體股票？</h2>
<p>根據最近的交易數據，ARK 在 5 月 19 日至 20 日之間共購買了 241,047 股 <strong>台積電</strong>（TSM -0.73%）。這很顯著，因為這是 ARK 多年內首次大規模購買台積電。</p>
<p>台積電（TSMC）專注於代工服務。這是芯片開發過程中的一個重要組成部分，因為像 Nvidia、AMD、<strong>博通</strong>、亞馬遜、<strong>高通</strong> 等公司都在很大程度上依賴台積電的製造工藝來實現他們的芯片和系統設計。</p>
<p>預計到下個十年，AI 基礎設施支出將達到數萬億美元，因此我相信，隨着公司繼續購買芯片和配備數據中心，台積電的服務將保持需求。然而，我看到持有該股票的一個更微妙的原因。</p>
<p>在我看來，台積電是推動整個 AI 產業的引擎。如果沒有其市場領先的製造工藝，Nvidia 及其同行可能無法滿足對其芯片組的需求。考慮到這些動態，台積電處於一個獨特的位置，只要對圖形處理單元（GPU）和其他半導體產品的需求保持強勁，它就能受益。</p>
<p>換句話説，公司的增長並不依賴於特定公司的特定芯片設計。相反，它可以享受來自 AI 基礎設施的更廣泛、更長期的順風。</p>
<h2>現在這隻股票值得買入嗎？</h2>
<p>在過去一年中，台積電的股價上漲了 20%——幾乎是 <strong>標準普爾 500 指數</strong> 和 <strong>納斯達克綜合指數</strong> 漲幅的兩倍。雖然這可能意味着該股票正在經歷一些超常的動量，但我仍然認為現在的股價具有吸引力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.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/5a9e7d295645ba5345b97ed1a4ceea65.png"/></p>
<p>TSMC 市盈率（前瞻性）數據來自 YCharts；市盈率=價格與收益比。</p>
<p>在過去幾周股市反彈之前，台積電的前瞻性市盈率（P/E）一直徘徊在一年來的最低水平。此外，儘管公司的估值倍數最近有所擴大，但其前瞻性市盈率為 20.8，幾乎與標準普爾 500 指數的平均前瞻性市盈率相同。</p>
<p>考慮到 AI 的順風依然強勁——即使在這個明顯的經濟不確定時期——再加上台積電在實現芯片組方面的關鍵角色，我很難認為公司的前景與更廣泛市場的前景相當。</p>
<p>在我看來，投資者現在對這隻股票的估值嚴重低估。我認為這隻股票是個明智的選擇，且價格便宜。我認為有長期投資視野的成長型投資者應該考慮跟隨伍德的腳步，並在台積電中補充他們的芯片股票。</p>

台積電

<p>ARK Invest 的 Cathie Wood 最近購買了 241,047 股台積電（TSMC）的股票，這是她多年內首次對該公司的重大投資。台積電在人工智能基礎設施中至關重要，為 Nvidia 和 AMD 等主要芯片公司提供製造服務。儘管台積電的股票在過去一年中上漲了 20%，但其前瞻市盈率仍與標準普爾 500 指數具有競爭力，這表明其被低估。Wood 的投資策略顯示出對台積電在不斷增長的人工智能市場中角色的信心，使其成為長期投資者的潛在買入對象</p>

<p>Cathie Wood is best known for investing in emerging (if not speculative) technologies such as genomics and flying electric taxis. If you take even a cursory glance at her portfolio with ARK Invest, odds are you'll be unfamiliar with most of her largest positions.</p>
<div class="lb-trans"><p>凱西·伍德以投資新興（如果不是投機性）技術而聞名，例如基因組學和飛行電動出租車。如果你稍微瀏覽一下她在 ARK Invest 的投資組合，你可能會對她最大的持倉感到陌生。</p>
</div><p>From time to time, however, there are mainstream opportunities that even Wood can't pass up. Let's explore how she has been investing in artificial intelligence (AI) as of late, and more specifically, which semiconductor stocks she has had on her radar.</p>
<div class="lb-trans"><p>然而，時不時地，會出現一些連伍德也無法錯過的主流機會。讓我們探討一下她最近在人工智能（AI）方面的投資情況，更具體地説，她關注了哪些半導體股票。</p>
</div><h2>Cathie Wood has been on the hunt for chip stocks lately</h2>
<div class="lb-trans"><h2>凱西·伍德最近一直在尋找芯片股票</h2>
</div><p>ARK Invest offers investors eight different exchange-traded funds (ETFs), each of which focuses on a specific theme. According to ARK's website, the largest positions in the portfolios include <strong>Tesla</strong>, <strong>Coinbase Global</strong>, <strong>Roku</strong>, <strong>Palantir Technologies</strong>, <strong>Robinhood Markets</strong>, and <strong>Archer Aviation</strong>. Each of these companies has attracted a loyal following -- mostly from retail investors -- but Wood complements these positions with some more blue chip businesses.</p>
<div class="lb-trans"><p>ARK Invest 為投資者提供了八種不同的交易所交易基金（ETFs），每種基金專注於特定主題。根據 ARK 的網站，投資組合中最大的持倉包括 <strong>特斯拉</strong>、<strong>Coinbase Global</strong>、<strong>Roku</strong>、<strong>Palantir Technologies</strong>、<strong>Robinhood Markets</strong> 和 <strong>Archer Aviation</strong>。這些公司都吸引了忠實的追隨者——主要來自零售投資者——但伍德還用一些藍籌企業來補充這些持倉。</p>
</div><p>When it comes to mainstream AI stocks, she owns positions in &#34;Magnificent Seven&#34; cornerstones <strong>Amazon</strong> and <strong>Alphabet</strong>. My guess? She's hedging her more-speculative positions with cloud hyperscalers that are already proving just how lucrative AI-powered services can be for their businesses.</p>
<div class="lb-trans"><p>在主流 AI 股票方面，她持有 “七大巨頭” 中的 <strong>亞馬遜</strong> 和 <strong>Alphabet</strong> 的股份。我的猜測是？她正在用已經證明 AI 驅動服務對其業務有多麼有利可圖的雲計算巨頭來對沖她更具投機性的持倉。</p>
</div><p>Besides the above, however, I've noticed a little trend in Wood's buying patterns over the last couple of months. Specifically, ARK has been rounding out its AI investments with chip stocks. She appears to have rekindled her relationship with <strong>Nvidia</strong> during the Nasdaq sell-off earlier this year, and more recently, she bought the dip in <strong>Advanced Micro Devices</strong> (AMD).</p>
<div class="lb-trans"><p>不過，除了上述公司，我注意到伍德在過去幾個月的買入模式中出現了一些小趨勢。具體來説，ARK 一直在用芯片股票來完善其 AI 投資。她似乎在今年早些時候的納斯達克拋售期間重新與 <strong>Nvidia</strong> 建立了關係，最近又在 <strong>Advanced Micro Devices</strong>（AMD）上買入了下跌。</p>
</div><p>Now, the growth investor just pounced on another AI chip stock, and I think this might be her most savvy move yet.</p>
<div class="lb-trans"><p>現在，這位成長型投資者剛剛對另一隻 AI 芯片股票進行了投資，我認為這可能是她迄今為止最聰明的舉動。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTk1NDYvZ2V0dHlpbWFnZXMtMTY1NDk0MzY2NS0xLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F819546%2Fgettyimages-1654943665-1.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>Which monster AI semiconductor stock did Wood just scoop up?</h2>
<div class="lb-trans"><h2>伍德剛剛買入了哪隻巨頭 AI 半導體股票？</h2>
</div><p>According to recent trading data, ARK bought a combined 241,047 shares of <strong>Taiwan Semiconductor Manufacturing</strong>(TSM -0.73%) between May 19 and 20. This is notable because it's the first major purchase of Taiwan Semiconductor by ARK in years.</p>
<div class="lb-trans"><p>根據最近的交易數據，ARK 在 5 月 19 日至 20 日之間共購買了 241,047 股 <strong>台積電</strong>（TSM -0.73%）。這很顯著，因為這是 ARK 多年內首次大規模購買台積電。</p>
</div><p>TSMC (as it's also known) specializes in foundry services. This is an important component of the chip development process because companies such as Nvidia, AMD, <strong>Broadcom</strong>, Amazon, <strong>Qualcomm</strong>, and many more all rely heavily on TSMC's fabrication process to bring their chip and system designs to life.</p>
<div class="lb-trans"><p>台積電（TSMC）專注於代工服務。這是芯片開發過程中的一個重要組成部分，因為像 Nvidia、AMD、<strong>博通</strong>、亞馬遜、<strong>高通</strong> 等公司都在很大程度上依賴台積電的製造工藝來實現他們的芯片和系統設計。</p>
</div><p>AI infrastructure spending is expected to reach multiple trillions of dollars by the next decade, so I'm confident that TSMC's services will remain in demand as companies continue buying chips and outfitting data centers. However, I see a more subtle reason to own the stock.</p>
<div class="lb-trans"><p>預計到下個十年，AI 基礎設施支出將達到數萬億美元，因此我相信，隨着公司繼續購買芯片和配備數據中心，台積電的服務將保持需求。然而，我看到持有該股票的一個更微妙的原因。</p>
</div><p>To me, TSMC is the engine powering the entire AI vehicle. Without its market-leading fabrication processes, Nvidia and its peers likely would not be able to fulfill demand for their chipsets. Given these dynamics, TSMC is in a rare position in that it stands to benefit as long as demand for graphics processing units (GPUs) and other semiconductor products remains strong.</p>
<div class="lb-trans"><p>在我看來，台積電是推動整個 AI 產業的引擎。如果沒有其市場領先的製造工藝，Nvidia 及其同行可能無法滿足對其芯片組的需求。考慮到這些動態，台積電處於一個獨特的位置，只要對圖形處理單元（GPU）和其他半導體產品的需求保持強勁，它就能受益。</p>
</div><p>In other words, the company's growth doesn't hinge on a particular chip design from a specific company. Rather, it can enjoy broader, more secular tailwinds from AI infrastructure.</p>
<div class="lb-trans"><p>換句話説，公司的增長並不依賴於特定公司的特定芯片設計。相反，它可以享受來自 AI 基礎設施的更廣泛、更長期的順風。</p>
</div><h2>Is the stock a buy right now?</h2>
<div class="lb-trans"><h2>現在這隻股票值得買入嗎？</h2>
</div><p>Over the past year, shares of TSMC have gained 20% -- nearly double the gains seen across both the <strong>S&amp;P 500</strong> and <strong>Nasdaq Composite</strong>. While that might imply the stock is experiencing some outsize momentum, I still find shares attractively priced right now.</p>
<div class="lb-trans"><p>在過去一年中，台積電的股價上漲了 20%——幾乎是 <strong>標準普爾 500 指數</strong> 和 <strong>納斯達克綜合指數</strong> 漲幅的兩倍。雖然這可能意味着該股票正在經歷一些超常的動量，但我仍然認為現在的股價具有吸引力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.png" alt="" original-src="https://media.ycharts.com/charts/5a9e7d295645ba5345b97ed1a4ceea65.png"/></p>
<p>TSM PE Ratio (Forward) data by YCharts; PE = price to earnings.</p>
<div class="lb-trans"><p>TSMC 市盈率（前瞻性）數據來自 YCharts；市盈率=價格與收益比。</p>
</div><p>Prior to the rebound in the stock market over the last few weeks, TSMC's forward price-to-earnings multiple (P/E) was hovering around its lowest levels in a year. What's more, even though the company's valuation multiples have been expanding as of late, its forward P/E of 20.8 is nearly identical to the average forward P/E across the S&amp;P 500 index.</p>
<div class="lb-trans"><p>在過去幾周股市反彈之前，台積電的前瞻性市盈率（P/E）一直徘徊在一年來的最低水平。此外，儘管公司的估值倍數最近有所擴大，但其前瞻性市盈率為 20.8，幾乎與標準普爾 500 指數的平均前瞻性市盈率相同。</p>
</div><p>Given how strong AI tailwinds remain -- even during this pronounced period of economic uncertainty -- combined with TSMC's mission-critical role in bringing chipsets to life, I'm hard-pressed to think that the company's prospects are commensurate with that of the broader market.</p>
<div class="lb-trans"><p>考慮到 AI 的順風依然強勁——即使在這個明顯的經濟不確定時期——再加上台積電在實現芯片組方面的關鍵角色，我很難認為公司的前景與更廣泛市場的前景相當。</p>
</div><p>To me, investors are heavily discounting the stock right now. I see shares as a no-brainer <em>and</em> a bargain. I think growth investors with a long time horizon should consider following Wood's lead and complement their chip stocks with a position in Taiwan Semiconductor Manufacturing.</p>
<div class="lb-trans"><p>在我看來，投資者現在對這隻股票的估值嚴重低估。我認為這隻股票是個明智的選擇，且價格便宜。我認為有長期投資視野的成長型投資者應該考慮跟隨伍德的腳步，並在台積電中補充他們的芯片股票。</p>
</div>

Cathie Wood Goes Bargain Hunting: 1 Monster Artificial Intelligence (AI) Semiconductor Stock She Just Bought on the Dip. (Hint: It's Not Nvidia or AMD.)

- Cathie Wood 最近投資了台灣半導體制造公司（TSMC）的股票。  
- ARK Invest 在 5 月 19 日至 20 日間購買了 241,047 股 TSMC。  
- TSMC 在 AI 基礎設施支出中扮演關鍵角色，未來需求強勁。  

凱西·伍德開始尋找便宜貨：她剛剛在股價下跌時買入了一隻巨大的人工智能（AI）半導體股票。（提示：這不是英偉達或 AMD。）