<p>市場上有幾隻受歡迎的人工智能（AI）股票，我認為目前投資價值不高。其中之一是 <strong>Palantir</strong>（PLTR 5.11%），在過去幾年中表現出色。其他的有 <strong>C3.ai</strong>（AI 4.67%）和 <strong>BigBear.ai</strong>（BBAI 4.40%）。</p>
<p>我有充分的理由認為投資者應該避開這三隻股票，因為將資金投入其他地方可以幫助你避免未來的巨大損失。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>Palantir</h2>
<p>Palantir 的股票經歷了不可思議的上漲。自 2023 年以來上漲了 2570%，自 2024 年以來上漲了 900%，今年上漲了 126%。面對這樣的增長，投資者可能會認為我建議避開它是因為它已經失去動力，但事實並非如此。</p>
<p>Palantir 的表現非常出色，其收入增長正在迅速加速。在第二季度，公司整體收入同比增長 48%，而第一季度為 39%。我相信 Palantir 將繼續快速增長，並在 AI 競爭中保持領先地位。</p>
<p>如果我認為它會成為頂尖公司，為什麼我對這隻股票不看好呢？這完全歸結於估值。</p>
<p>儘管 Palantir 的股票自 2023 年以來上漲了 2570%，但其收入僅增長了 80%。這之間存在巨大的不匹配，表明該股票的大部分漲幅是通過估值的提升實現的。查看其估值也支持這一分析，因為它的前瞻性市盈率高達 267 倍，銷售額的市銷率為 126 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.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/3b603406f15bbc47eff60b135131d54e.png"/></p>
<p>PLTR 前瞻性市盈率數據來源於 YCharts</p>
<p>這些估值水平是很少有公司能夠達到的，而且沒有公司能夠持續保持。Palantir 要麼需要成長到這些估值（導致股價持平），要麼大幅下跌以在更合理的水平交易。</p>
<p>以 <strong>Nvidia</strong> 為例。儘管它連續多個季度實現了同比收入增長，但其市銷率或前瞻性市盈率從未超過 50 倍。Palantir 的增長速度遠低於此，但其估值卻遠高於 Nvidia 曾經的水平。</p>
<p>無論發生什麼，我預計 Palantir 的股票在未來幾年將保持平穩，即使公司保持強勁的增長率。Palantir 的股票中已經包含了多年的增長，投資者明智的做法是將部分收益取出，投資於其他估值更合理的公司。</p>
<h2>BigBear.ai 和 C3.ai</h2>
<p>我們正處於人工智能的黃金時代，任何與這一趨勢相關的公司都應該表現良好。然而，這兩家公司並非如此。</p>
<p>這兩家公司都在掙扎，實際上在過去一個季度的收入出現了下降。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.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/5d97694a07709be9fef04551c5dc9e2b.png"/></p>
<p>BBAI 收入（季度同比增長）數據來源於 YCharts</p>
<p>考慮到幾乎每個美國企業對 AI 的高需求，至少實現正收入增長應該不難。由於這兩家公司都出現了負增長，很明顯它們各自的競爭對手提供了更好的產品和服務，可能正在吸引客户離開這兩家公司。</p>
<p>如果這兩家公司在市場條件最佳時都無法實現收入增長，那麼五年後，當巨大的 AI 支出熱潮可能結束時，會發生什麼呢？這兩家公司不值得你花時間，如果你持有它們，我建議考慮出售股票，轉向更具吸引力的投資。</p>
<p>市場上有很多有前景的 AI 公司可供投資，而這三家公司不在其中。此外，還有幾隻已經持有一些頂尖 AI 公司的 AI 交易所交易基金（ETF），這可能是另一個不錯的投資選擇。</p>

BBAI

PLTR

<p>這篇文章討論了三隻應避免的人工智能股票：Palantir、C3.ai 和 BigBear.ai。儘管 Palantir 的股票表現令人印象深刻，但其估值被認為不可持續，當前的交易價格為前瞻性收益的 267 倍。C3.ai 和 BigBear.ai 正面臨收入下降的問題，表明它們正在失去市場份額。作者建議投資者考慮將資金重新分配到估值更合理的人工智能公司或 ETF，因為這三隻股票可能無法提供未來的增長機會</p>

<p>There are several popular artificial intelligence (AI) stocks on the market that I believe are currently poor investments. One of them is <strong>Palantir</strong>(PLTR 5.11%), which has been one of the best-performing stocks over the past few years. The others are <strong>C3.ai</strong>(AI 4.67%) and <strong>BigBear.ai</strong>(BBAI 4.40%).</p>
<div class="lb-trans"><p>市場上有幾隻受歡迎的人工智能（AI）股票，我認為目前投資價值不高。其中之一是 <strong>Palantir</strong>（PLTR 5.11%），在過去幾年中表現出色。其他的有 <strong>C3.ai</strong>（AI 4.67%）和 <strong>BigBear.ai</strong>（BBAI 4.40%）。</p>
</div><p>I have solid reasons why investors should steer clear of this trio, as investing your money elsewhere can save you from a massive future loss.</p>
<div class="lb-trans"><p>我有充分的理由認為投資者應該避開這三隻股票，因為將資金投入其他地方可以幫助你避免未來的巨大損失。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzI4NjgvcGVyc29uLXJlZ3JldGZ1bC1pbi1mcm9udC1vZi1hLWNvbXB1dGVyLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832868%2Fperson-regretful-in-front-of-a-computer.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>Palantir</h2>
<div class="lb-trans"><h2>Palantir</h2>
</div><p>Palantir's stock has been on an unbelievable run. It's up 2,570% since 2023, 900% since 2024, and 126% this year. With that kind of growth, investors may think I'm advocating for avoiding it because it's run out of steam, but that's not the case at all.</p>
<div class="lb-trans"><p>Palantir 的股票經歷了不可思議的上漲。自 2023 年以來上漲了 2570%，自 2024 年以來上漲了 900%，今年上漲了 126%。面對這樣的增長，投資者可能會認為我建議避開它是因為它已經失去動力，但事實並非如此。</p>
</div><p>Palantir is performing exceptionally well, and its revenue growth is accelerating rapidly. In Q2, companywide revenue rose 48% compared to 39% growth in Q1. I believe Palantir will continue to grow rapidly and remain among the best-performing <em>companies</em> in the AI arms race.</p>
<div class="lb-trans"><p>Palantir 的表現非常出色，其收入增長正在迅速加速。在第二季度，公司整體收入同比增長 48%，而第一季度為 39%。我相信 Palantir 將繼續快速增長，並在 AI 競爭中保持領先地位。</p>
</div><p>If I think it will be a top-performing company, why am I not bullish on the stock? It all comes down to valuation.</p>
<div class="lb-trans"><p>如果我認為它會成為頂尖公司，為什麼我對這隻股票不看好呢？這完全歸結於估值。</p>
</div><p>Even though Palantir's stock has increased by 2,570% since 2023, its revenue has risen by only 80%. That's a huge mismatch, indicating that the stock has achieved most of its gains through an increase in its valuation. Looking at its valuation supports this analysis, as it trades for a jaw-dropping 267 times forward earnings and 126 times sales.</p>
<div class="lb-trans"><p>儘管 Palantir 的股票自 2023 年以來上漲了 2570%，但其收入僅增長了 80%。這之間存在巨大的不匹配，表明該股票的大部分漲幅是通過估值的提升實現的。查看其估值也支持這一分析，因為它的前瞻性市盈率高達 267 倍，銷售額的市銷率為 126 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.png" alt="" original-src="https://media.ycharts.com/charts/3b603406f15bbc47eff60b135131d54e.png"/></p>
<p>PLTR PE Ratio (Forward) data by YCharts</p>
<div class="lb-trans"><p>PLTR 前瞻性市盈率數據來源於 YCharts</p>
</div><p>Those are valuation levels that few companies ever achieve and no company sustains. Palantir will either need to grow into those valuations (resulting in a flat stock price) or fall dramatically to trade at a more reasonable level.</p>
<div class="lb-trans"><p>這些估值水平是很少有公司能夠達到的，而且沒有公司能夠持續保持。Palantir 要麼需要成長到這些估值（導致股價持平），要麼大幅下跌以在更合理的水平交易。</p>
</div><p>Take <strong>Nvidia</strong>, for example. Despite multiple quarters in a row where it rippled its revenue year over year, it never traded for more than 50 times sales or forward earnings. Palantir is growing much slower than that, yet it has attained a valuation far higher than Nvidia ever did.</p>
<div class="lb-trans"><p>以 <strong>Nvidia</strong> 為例。儘管它連續多個季度實現了同比收入增長，但其市銷率或前瞻性市盈率從未超過 50 倍。Palantir 的增長速度遠低於此，但其估值卻遠高於 Nvidia 曾經的水平。</p>
</div><p>Regardless of what happens, I'd expect Palantir's stock to be flat over the next few years, even if the company maintains a strong growth rate. There are years of growth already baked into Palantir's stock, and investors would be wise to take some of those gains and invest in other, more reasonably valued companies.</p>
<div class="lb-trans"><p>無論發生什麼，我預計 Palantir 的股票在未來幾年將保持平穩，即使公司保持強勁的增長率。Palantir 的股票中已經包含了多年的增長，投資者明智的做法是將部分收益取出，投資於其他估值更合理的公司。</p>
</div><h2>BigBear.ai and C3.ai</h2>
<div class="lb-trans"><h2>BigBear.ai 和 C3.ai</h2>
</div><p>We're in the golden age of AI, and any company associated with the trend should be doing well. However, that's not the case with these two.</p>
<div class="lb-trans"><p>我們正處於人工智能的黃金時代，任何與這一趨勢相關的公司都應該表現良好。然而，這兩家公司並非如此。</p>
</div><p>Both companies are struggling, and actually delivered falling revenue in the past quarter.</p>
<div class="lb-trans"><p>這兩家公司都在掙扎，實際上在過去一個季度的收入出現了下降。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.png" alt="" original-src="https://media.ycharts.com/charts/5d97694a07709be9fef04551c5dc9e2b.png"/></p>
<p>BBAI Revenue (Quarterly YoY Growth) data by YCharts</p>
<div class="lb-trans"><p>BBAI 收入（季度同比增長）數據來源於 YCharts</p>
</div><p>Given the high demand for AI by nearly every business in the U.S., it shouldn't be difficult to achieve at least positive revenue growth. Since both have negative growth, it's fairly obvious that their respective competitors offer better products and services, and are likely attracting clients away from these two.</p>
<div class="lb-trans"><p>考慮到幾乎每個美國企業對 AI 的高需求，至少實現正收入增長應該不難。由於這兩家公司都出現了負增長，很明顯它們各自的競爭對手提供了更好的產品和服務，可能正在吸引客户離開這兩家公司。</p>
</div><p>If these two can't grow revenue right now when market conditions are optimal, what will happen five years later when the massive AI spending boom is potentially complete? These two aren't worth your time, and if you have them, I'd consider selling shares to move to more attractive investments.</p>
<div class="lb-trans"><p>如果這兩家公司在市場條件最佳時都無法實現收入增長，那麼五年後，當巨大的 AI 支出熱潮可能結束時，會發生什麼呢？這兩家公司不值得你花時間，如果你持有它們，我建議考慮出售股票，轉向更具吸引力的投資。</p>
</div><p>There are plenty of promising AI companies available to invest in, and these three are not among them. There are also several AI exchange-traded funds (ETFs) that already hold some of the top AI companies, which could be another solid investment option.</p>
<div class="lb-trans"><p>市場上有很多有前景的 AI 公司可供投資，而這三家公司不在其中。此外，還有幾隻已經持有一些頂尖 AI 公司的 AI 交易所交易基金（ETF），這可能是另一個不錯的投資選擇。</p>
</div>

3 Popular Artificial Intelligence (AI) Stocks to Steer Clear Of. (Hint: One of Them Is Palantir)

- 文章認為 Palantir、C3.ai 和 BigBear.ai 是不值得投資的 AI 股票。  
- Palantir 儘管收入增長加速，但估值過高，未來股價可能平穩。  
- C3.ai 和 BigBear.ai 面臨收入下滑，競爭力不足，建議投資者考慮其他選擇。

三隻熱門人工智能（AI）股票需要規避。（提示：其中之一是 Palantir Tech）