<p>大約一年以來，半導體巨頭 <strong>Nvidia</strong> 和雲計算巨頭 <strong>Microsoft</strong> 一直在爭奪全球最有價值公司的寶座。但隨着 Nvidia 逐漸接近令人垂涎的 4 萬億美元里程碑，這家公司似乎正在將其 &#34;七大巨頭&#34; 的同行們拋在了身後。</p>
<p>儘管 Nvidia 目前擁有最有價值公司的稱號，但我認為電子商務和雲基礎設施專家 <strong>Amazon</strong>（AMZN 1.26%）在長期內更有可能成為更大的公司。</p>
<p>讓我們探討一下 Amazon 如何在其業務中利用 AI 的多種方式，並詳細説明該公司強勁的增長前景如何在未來五年內導致估值的顯著擴張。</p>
<h2>AI 如何幫助 Amazon 開啓新一輪增長？</h2>
<p>Amazon 的生態系統涵蓋電子商務、物流、消費電子、雲計算、廣告、流媒體等多個領域。雖然 AI 有潛力為每項服務增值，但我認為投資者應該關注這項技術如何在雲計算和電子商務領域特別激發顯著增長。</p>
<p>Amazon 的大部分收入來自在線銷售，去年創造了高達 2500 億美元的收入。然而，由於商品同質化、全球範圍內昂貴的運輸基礎設施以及消費者購物模式的波動，使得電子商務業務對 Amazon 來説相對低利潤。</p>
<p>管理層已表示希望通過利用 AI 驅動的機器人來提高這一業務領域的盈利能力。機器人可以集成到 Amazon 的倉庫中，幫助自動化日常任務，與人力勞動力協同工作。此外，首席執行官 Andy Jassy 甚至表示，未來機器人可以協助運輸和交付包裹。</p>
<p>根據 <strong>摩根士丹利</strong> 的最新分析，機器人可以幫助單個倉庫降低 25% 的成本。考慮到 Amazon 的全球規模，這些成本降低理論上可以在長期內使電子商務運營的盈利能力增加數十億美元。</p>
<p>在雲業務方面，Amazon 在過去幾年中向一家名為 Anthropic 的初創公司投資了 80 億美元。Anthropic 的服務已迅速整合到 Amazon Web Services (AWS) 中，其對業務銷售和盈利能力的影響已經相當顯著。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="490" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA"/></p>
<p>圖片來源：Amazon 投資者關係。</p>
<h2>為什麼 Amazon 的估值在長期內看起來更有可能擴張超過 Nvidia 或 Microsoft</h2>
<p>在過去的幾年中，Nvidia 的圖形處理單元 (GPU) 一直被認為是生成 AI 開發的黃金標準。儘管許多七大巨頭公司今天是 Nvidia 的最大客户，但這些動態在未來幾年可能會發生變化。</p>
<p>儘管 Nvidia 和 Microsoft 目前的估值較高，但我認為這兩家公司可能會在芯片和雲領域面臨競爭壓力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="720" height="507" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png"/></p>
<p>AMZN 市盈率（前瞻性）數據來自 YCharts</p>
<p>考慮到 ChatGPT 製造商最近一直在探索與 <strong>Alphabet</strong> 和 <strong>Oracle</strong> 的合作機會，Microsoft 與 OpenAI 的合作可能不再像以前那樣有利可圖。</p>
<p>此外，Amazon、Microsoft 和 Alphabet 都在為自己的定製硅開發投入大量資本。此外，<strong>超微半導體</strong> 已建立起強大的數據中心和 AI 芯片業務，直接與 Nvidia 競爭。</p>
<p>根據上面所示的前瞻市盈率 (P/E) 趨勢，Amazon 似乎正在經歷一定程度的擴張。在我看來，這表明投資者可能終於意識到 Amazon 在通過 AI 增強其生態系統方面具有獨特的優勢，從而進一步實現其各種服務的貨幣化。</p>
<p>因此，隨着 AI 成為支持 Amazon 轉型的核心支柱，該公司的市值在未來幾年可能相對於其同行大幅上升。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="427" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>現在 Amazon 股票值得買嗎？</h2>
<p>儘管 Amazon 股票現在並不便宜，但我仍然認為它是長期投資者一個引人注目的買入和持有機會。我認為 AI 帶來的上行潛力尚未完全反映在股價中，儘管最近幾個月有所擴張。</p>
<p>考慮到 AI 可能為 Amazon 的核心電子商務和雲業務帶來的長期增值影響，我認為該公司正處於一個新的增長階段，未來幾年將實現收入和利潤的加速增長。</p>
<p>因此，我認為投資者可能會繼續以溢價評估 Amazon，相較於其 AI 競爭對手，預計該公司將在下一個十年初成為全球最有價值的企業。</p>

亞馬遜

亞馬遜每日 2 倍做多 ETF - Direxion

<p>這篇文章預測，到 2030 年，亞馬遜可能會成為全球最有價值的公司，超越英偉達和微軟。文章強調了亞馬遜在其電子商務和雲服務中廣泛使用人工智能，這可能顯著提升盈利能力。預計在倉庫中整合人工智能驅動的機器人以及對像 Anthropic 這樣的人工智能初創公司的投資將推動增長。儘管當前股價表現一般，亞馬遜被視為長期投資者的強勁買入選擇，隨着人工智能成為其運營的核心，收入和利潤有望大幅增長</p>

<p>For about a year now, semiconductor powerhouse <strong>Nvidia</strong> and cloud computing giant <strong>Microsoft</strong> have been trading places for the most valuable company in the world. But as Nvidia inches closer to the coveted $4 trillion milestone, it might seem like the company is leaving its &#34;Magnificent Seven&#34; peers in the dust.</p>
<div class="lb-trans"><p>大約一年以來，半導體巨頭 <strong>Nvidia</strong> 和雲計算巨頭 <strong>Microsoft</strong> 一直在爭奪全球最有價值公司的寶座。但隨着 Nvidia 逐漸接近令人垂涎的 4 萬億美元里程碑，這家公司似乎正在將其 &#34;七大巨頭&#34; 的同行們拋在了身後。</p>
</div><p>Although Nvidia currently holds the title for the most valuable company, I think e-commerce and cloud infrastructure specialist <strong>Amazon</strong>(AMZN 1.26%) has a better shot at becoming the larger company in the long run.</p>
<div class="lb-trans"><p>儘管 Nvidia 目前擁有最有價值公司的稱號，但我認為電子商務和雲基礎設施專家 <strong>Amazon</strong>（AMZN 1.26%）在長期內更有可能成為更大的公司。</p>
</div><p>Let's explore the variety of ways that Amazon is already leveraging AI across its business and detail why the company's robust growth prospects could lead to a considerable expansion in valuation over the next five years.</p>
<div class="lb-trans"><p>讓我們探討一下 Amazon 如何在其業務中利用 AI 的多種方式，並詳細説明該公司強勁的增長前景如何在未來五年內導致估值的顯著擴張。</p>
</div><h2>How can AI help usher in a new wave of growth for Amazon?</h2>
<div class="lb-trans"><h2>AI 如何幫助 Amazon 開啓新一輪增長？</h2>
</div><p>Amazon's ecosystem spans e-commerce, logistics, consumer electronics, cloud computing, advertising, streaming, and much more. While AI has the potential to add value to each of these services, I think investors should hone in on how the technology could ignite significant growth across the cloud and e-commerce segments in particular.</p>
<div class="lb-trans"><p>Amazon 的生態系統涵蓋電子商務、物流、消費電子、雲計算、廣告、流媒體等多個領域。雖然 AI 有潛力為每項服務增值，但我認為投資者應該關注這項技術如何在雲計算和電子商務領域特別激發顯著增長。</p>
</div><p>Amazon derives the majority of its revenue from online sales, which generated a whopping $250 billion over the last year. Factors such as commoditized product offerings, expensive transportation infrastructure at global scale, and fluctuating shopping patterns from consumers make the e-commerce business a relatively low-margin business for Amazon, though.</p>
<div class="lb-trans"><p>Amazon 的大部分收入來自在線銷售，去年創造了高達 2500 億美元的收入。然而，由於商品同質化、全球範圍內昂貴的運輸基礎設施以及消費者購物模式的波動，使得電子商務業務對 Amazon 來説相對低利潤。</p>
</div><p>Management has expressed intentions to make this area of the business more profitable by leveraging AI-powered robotics. Robotics can be integrated in Amazon's warehouses to help automate mundane tasks alongside the human labor force. In addition, CEO Andy Jassy has even expressed that robots could assist in transportation and delivery of packages down the road.</p>
<div class="lb-trans"><p>管理層已表示希望通過利用 AI 驅動的機器人來提高這一業務領域的盈利能力。機器人可以集成到 Amazon 的倉庫中，幫助自動化日常任務，與人力勞動力協同工作。此外，首席執行官 Andy Jassy 甚至表示，未來機器人可以協助運輸和交付包裹。</p>
</div><p>Per a recent analysis from <strong>Morgan Stanley</strong>, robotics could help reduce costs by 25% in an individual warehouse. Considering Amazon has global scale, these cost reductions could theoretically expand profitability in e-commerce operations by billions in the long run.</p>
<div class="lb-trans"><p>根據 <strong>摩根士丹利</strong> 的最新分析，機器人可以幫助單個倉庫降低 25% 的成本。考慮到 Amazon 的全球規模，這些成本降低理論上可以在長期內使電子商務運營的盈利能力增加數十億美元。</p>
</div><p>Regarding its cloud business, Amazon has invested $8 billion into a start-up called Anthropic over the last couple of years. Anthropic's services have been swiftly integrated into Amazon Web Services (AWS), and its impact on the business' sales and profitability are already quite significant.</p>
<div class="lb-trans"><p>在雲業務方面，Amazon 在過去幾年中向一家名為 Anthropic 的初創公司投資了 80 億美元。Anthropic 的服務已迅速整合到 Amazon Web Services (AWS) 中，其對業務銷售和盈利能力的影響已經相當顯著。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvc2NyZWVuc2hvdC0yMDI1LTA3LTA5LTE1MDY0Ni5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F824483%2Fscreenshot-2025-07-09-150646.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Amazon Investor Relations.</p>
<div class="lb-trans"><p>圖片來源：Amazon 投資者關係。</p>
</div><h2>Why Amazon's valuation looks poised to expand more than Nvidia or Microsoft in the long run</h2>
<div class="lb-trans"><h2>為什麼 Amazon 的估值在長期內看起來更有可能擴張超過 Nvidia 或 Microsoft</h2>
</div><p>For much of the last couple of years, Nvidia's graphics processing units (GPUs) have been considered the gold standard for generative AI development. And while many of the Magnificent Seven companies are Nvidia's largest customers today, these dynamics may shift in coming years.</p>
<div class="lb-trans"><p>在過去的幾年中，Nvidia 的圖形處理單元 (GPU) 一直被認為是生成 AI 開發的黃金標準。儘管許多七大巨頭公司今天是 Nvidia 的最大客户，但這些動態在未來幾年可能會發生變化。</p>
</div><p>Although Nvidia and Microsoft are valued at premiums right now, I think both companies could struggle to fend off competition in the chip and cloud arenas.</p>
<div class="lb-trans"><p>儘管 Nvidia 和 Microsoft 目前的估值較高，但我認為這兩家公司可能會在芯片和雲領域面臨競爭壓力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png" alt="" original-src="https://media.ycharts.com/charts/f36e48f34fa6c75f86396bc895009ba6.png"/></p>
<p>AMZN PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>AMZN 市盈率（前瞻性）數據來自 YCharts</p>
</div><p>Microsoft's partnership with OpenAI may not be as lucrative as it once was, given the ChatGPT maker has been exploring partnership opportunities with <strong>Alphabet</strong> and <strong>Oracle</strong> as of late.</p>
<div class="lb-trans"><p>考慮到 ChatGPT 製造商最近一直在探索與 <strong>Alphabet</strong> 和 <strong>Oracle</strong> 的合作機會，Microsoft 與 OpenAI 的合作可能不再像以前那樣有利可圖。</p>
</div><p>In addition, Amazon, Microsoft, and Alphabet are all investing significant capital in their own custom silicon development. Moreover, <strong>Advanced Micro Devices</strong> has built formidable data center and AI chip businesses that compete directly with Nvidia.</p>
<div class="lb-trans"><p>此外，Amazon、Microsoft 和 Alphabet 都在為自己的定製硅開發投入大量資本。此外，<strong>超微半導體</strong> 已建立起強大的數據中心和 AI 芯片業務，直接與 Nvidia 競爭。</p>
</div><p>Amazon appears to be witnessing a degree of expansion based on the forward price-to-earnings (P/E) trends pictured above. To me, this signals that investors may finally be understanding that Amazon is uniquely positioned to further monetize its various service offerings by augmenting its ecosystem with AI.</p>
<div class="lb-trans"><p>根據上面所示的前瞻市盈率 (P/E) 趨勢，Amazon 似乎正在經歷一定程度的擴張。在我看來，這表明投資者可能終於意識到 Amazon 在通過 AI 增強其生態系統方面具有獨特的優勢，從而進一步實現其各種服務的貨幣化。</p>
</div><p>Hence, the company's market cap could rise considerably relative to its peers in the following years as AI becomes the core pillar supporting Amazon's transformation.</p>
<div class="lb-trans"><p>因此，隨着 AI 成為支持 Amazon 轉型的核心支柱，該公司的市值在未來幾年可能相對於其同行大幅上升。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjQ0ODMvZ2V0dHlpbWFnZXMtMTEzMDc4NTcxOS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F824483%2Fgettyimages-1130785719.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>Is Amazon stock a buy right now?</h2>
<div class="lb-trans"><h2>現在 Amazon 股票值得買嗎？</h2>
</div><p>Although Amazon stock isn't a bargain now, I still see it as a compelling buy-and-hold opportunity for long-term investors. I do not think the upside that AI carries has been fully baked into the stock price, despite some noticeable expansion in recent months.</p>
<div class="lb-trans"><p>儘管 Amazon 股票現在並不便宜，但我仍然認為它是長期投資者一個引人注目的買入和持有機會。我認為 AI 帶來的上行潛力尚未完全反映在股價中，儘管最近幾個月有所擴張。</p>
</div><p>Considering the long-term accretive impacts AI could generate for Amazon's core e-commerce and cloud businesses, I think the company is in the early phases of a new growth chapter featuring accelerating revenue and profits for years to come.</p>
<div class="lb-trans"><p>考慮到 AI 可能為 Amazon 的核心電子商務和雲業務帶來的長期增值影響，我認為該公司正處於一個新的增長階段，未來幾年將實現收入和利潤的加速增長。</p>
</div><p>For this reason, I think investors could continue valuing Amazon at a premium relative to its peers and see the company emerging as the most valuable business in the world over its AI peers by early the next decade.</p>
<div class="lb-trans"><p>因此，我認為投資者可能會繼續以溢價評估 Amazon，相較於其 AI 競爭對手，預計該公司將在下一個十年初成為全球最有價值的企業。</p>
</div>

Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Be the Most Valuable Company in the World by 2030 (Hint: It's Not Nvidia or Microsoft)

- 亞馬遜在電商和雲計算領域利用 AI 促進增長，預計未來五年估值將顯著提升。  
- 機器人技術可降低亞馬遜倉庫成本 25%，提升電商盈利能力。  
- 投資者對亞馬遜的長期增長潛力持樂觀態度，可能使其市值超越競爭對手。  

預測：這家出色的人工智能（AI）公司股票將在 2030 年成為全球最有價值的公司（提示：它不是英偉達或微軟）