<p>人工智能（AI）是企業在 21 世紀競爭的必備技術。它承諾降低成本，加快產品開發，並自動化任務。這就是為什麼預計未來五年在 AI 基礎設施上的支出將達到數萬億的原因。</p>
<p>以下公司提供 AI 所需的關鍵芯片和服務器。這就是為什麼投資者在這些股票中至少可以在本十年末實現資金翻倍的原因。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>1. 博通</h2>
<p>未來五年，數據中心的支出預計將顯著增加。數據中心需要數千個芯片、數英里電纜和監控性能的軟件。<strong>博通</strong>（AVGO -1.57%）為多個市場提供芯片和網絡產品，但其數據中心業務正在迅速增長。該股票今年迄今已上漲 48%，仍有上漲空間。</p>
<p>博通是一家管理良好的企業，在過去 10 年中為股東提供了 2500% 的累計回報。在最近一個季度，它報告了 22% 的年同比收入增長。在過去 10 年中，其收入和每股收益以 28% 的複合年增長率增長。</p>
<p>這種持續增長基於博通在其運營市場的領導地位。管理層專注於高利潤產品，這些產品提供了良好的增長前景。AI 芯片目前推動了公司大部分的增長，上個季度 AI 收入同比增長 63%。</p>
<p>更多的數據中心將被建設，這進一步擴大了博通網絡產品的可尋址市場。數據中心將需要更多的交換機、路由器和以太網電纜，以連接數百個計算機機架。博通憑藉其 Tomahawk 6 和 Jericho 以太網交換機，能夠滿足這一需求，這些交換機提供高數據傳輸速度，且延遲和功耗低。</p>
<p>分析師預計，博通的調整後每股收益將在 2029 財年（截至 10 月）以 32% 的年化率增長。考慮到這些高預期，該股票目前的交易倍數為 51 倍，這是過去三年中最高的倍數。假設到 2029 年該股票的前瞻性收益倍數為 40 倍，則根據共識預期，股價將達到 792 美元。投資者仍然可以從博通當前的股價中實現資金翻倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw?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-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<h2>2. 戴爾科技</h2>
<p><strong>戴爾科技</strong>（DELL 2.84%）並沒有受到太多關注，但這正是該股票可能被低估的原因。戴爾是服務器的第一供應商。其 AI 優化服務器的需求非常旺盛，使得該股票在未來五年內有潛力翻倍，甚至更快。</p>
<p>服務器的需求正在飆升。IDC 估計，2024 年服務器支出增長了 73%。預計市場在 2029 年前將以 16% 的複合增長率增長。戴爾只需保持其市場份額領先，就能將其服務器業務翻倍，並可能使股東的投資翻倍。</p>
<p>根據彭博情報，AI 服務器市場預計在 2025 年將增長 55%。戴爾上個季度總收入同比增長 19%，主要是由於 AI 服務器市場的強勁需求。</p>
<p>戴爾大部分收入（56%）來自基礎設施解決方案（服務器），其餘來自客户端解決方案（個人電腦和外設）。戴爾的個人電腦業務在此時幾乎被忽視，因為其基礎設施收入在上個季度同比增長了 44%。</p>
<p>戴爾表示，今年上半年發貨的 AI 解決方案數量超過了去年全年的總量。儘管服務器市場競爭激烈且利潤較低，但戴爾的競爭優勢在於其在全球範圍內為大型客户銷售的龐大銷售團隊、為企業提供定製解決方案的能力以及快速的市場響應。</p>
<p>隨着服務器業務的蓬勃發展，戴爾不需要在個人電腦業務上看到太多增長，投資者就能獲得良好的回報。這是一個完全依賴服務器增長的故事。分析師預計，戴爾的調整後每股收益將在 2030 財年（截至 1 月）以 13% 的年化率增長，達到 14.94 美元。</p>
<p>該股票目前的前瞻市盈率為 14。如果在五年內能達到 20 倍的前瞻市盈率，該股票將以每股 300 美元交易，意味着從當前 133 美元的股價上漲 125%。考慮到對 AI 機會的日益看好，該股票應該能獲得更高的市盈率，併為戴爾投資者帶來超越市場的回報。</p>

博通

戴爾科技-C

<p>這篇文章討論了兩隻人工智能股票——博通和戴爾科技，它們預計到 2030 年將實現顯著增長。博通預計將受益於數據中心支出的增加，預計每股收益年增長 32%。作為領先的服務器供應商，戴爾也因對人工智能優化服務器的需求激增而有望將其投資潛力翻倍，預計每股收益年增長 13%。這兩家公司都處於有利位置，可以利用蓬勃發展的人工智能市場，使其成為有吸引力的投資機會</p>

<p>Artificial intelligence (AI) is a must-have technology for businesses to compete in the 21st century. It promises to lower costs, speed up product development, and automate tasks. This is why spending on AI infrastructure is expected to reach into the trillions in the next five years.</p>
<div class="lb-trans"><p>人工智能（AI）是企業在 21 世紀競爭的必備技術。它承諾降低成本，加快產品開發，並自動化任務。這就是為什麼預計未來五年在 AI 基礎設施上的支出將達到數萬億的原因。</p>
</div><p>The following companies provide the essential chips and servers for AI. Here's why investors could at least double their money in these stocks through the end of the decade.</p>
<div class="lb-trans"><p>以下公司提供 AI 所需的關鍵芯片和服務器。這就是為什麼投資者在這些股票中至少可以在本十年末實現資金翻倍的原因。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvc3RvY2stbWFya2V0LWdyYXBoLWFuZC1jdXJyZW5jeS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833000%2Fstock-market-graph-and-currency.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>1. Broadcom</h2>
<div class="lb-trans"><h2>1. 博通</h2>
</div><p>The next five years are likely to see a significant ramp in spending for data centers. Data centers require thousands of chips, miles of cables, and software to monitor performance. <strong>Broadcom</strong>(AVGO -1.57%) supplies chips and networking products for a range of markets, but its data center business is exploding. The stock is up 48% year to date with room to run.</p>
<div class="lb-trans"><p>未來五年，數據中心的支出預計將顯著增加。數據中心需要數千個芯片、數英里電纜和監控性能的軟件。<strong>博通</strong>（AVGO -1.57%）為多個市場提供芯片和網絡產品，但其數據中心業務正在迅速增長。該股票今年迄今已上漲 48%，仍有上漲空間。</p>
</div><p>Broadcom is a well-managed business that has delivered a 2,500% cumulative return to shareholders over the last 10 years. In the most recent quarter, it reported a 22% year-over-year increase in revenue. Its revenue and earnings per share have grown at a compound annual rate of 28% over the last 10 years.</p>
<div class="lb-trans"><p>博通是一家管理良好的企業，在過去 10 年中為股東提供了 2500% 的累計回報。在最近一個季度，它報告了 22% 的年同比收入增長。在過去 10 年中，其收入和每股收益以 28% 的複合年增長率增長。</p>
</div><p>This consistent growth is based on Broadcom's leadership in the markets where it operates. Management focuses on high-margin products that offer attractive growth prospects. AI chips are driving most of the company's growth right now, with AI revenue up 63% year over year last quarter.</p>
<div class="lb-trans"><p>這種持續增長基於博通在其運營市場的領導地位。管理層專注於高利潤產品，這些產品提供了良好的增長前景。AI 芯片目前推動了公司大部分的增長，上個季度 AI 收入同比增長 63%。</p>
</div><p>More data centers will get built, which just extends the addressable market for Broadcom's networking products. Data centers will need more switches, routers, and Ethernet cables to connect hundreds of computing racks. Broadcom is well-positioned to meet this demand with its Tomahawk 6 and Jericho Ethernet switches, which deliver high data transfer speeds with low latency and power requirements.</p>
<div class="lb-trans"><p>更多的數據中心將被建設，這進一步擴大了博通網絡產品的可尋址市場。數據中心將需要更多的交換機、路由器和以太網電纜，以連接數百個計算機機架。博通憑藉其 Tomahawk 6 和 Jericho 以太網交換機，能夠滿足這一需求，這些交換機提供高數據傳輸速度，且延遲和功耗低。</p>
</div><p>Analysts expect Broadcom's adjusted earnings per share to grow at an annualized rate of 32% through fiscal 2029 (which ends in October). Given those high expectations, the stock is trading at 51 times this year's earnings estimate -- the highest multiple it has traded at over the last three years. Assuming the stock is trading at 40 times forward earnings in 2029, the share price would be $792 based on the consensus estimate. Investors can still double their money from Broadcom's current share price.</p>
<div class="lb-trans"><p>分析師預計，博通的調整後每股收益將在 2029 財年（截至 10 月）以 32% 的年化率增長。考慮到這些高預期，該股票目前的交易倍數為 51 倍，這是過去三年中最高的倍數。假設到 2029 年該股票的前瞻性收益倍數為 40 倍，則根據共識預期，股價將達到 792 美元。投資者仍然可以從博通當前的股價中實現資金翻倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwMDAvZGF0YS1zZXJ2ZXIuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833000%2Fdata-server.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>2. Dell Technologies</h2>
<div class="lb-trans"><h2>2. 戴爾科技</h2>
</div><p><strong>Dell Technologies</strong>(DELL 2.84%) doesn't get a lot of attention, but that's why the stock could be undervalued. Dell is the No. 1 supplier of servers. Demand for its AI-optimized servers is red hot, positioning the stock to potentially double within the next five years, if not sooner.</p>
<div class="lb-trans"><p><strong>戴爾科技</strong>（DELL 2.84%）並沒有受到太多關注，但這正是該股票可能被低估的原因。戴爾是服務器的第一供應商。其 AI 優化服務器的需求非常旺盛，使得該股票在未來五年內有潛力翻倍，甚至更快。</p>
</div><p>Demand for servers is soaring. IDC estimates that spending on servers grew 73% in 2024. The market is expected to grow at a compound rate of 16% through 2029. All Dell would need to do is hold its market share lead to double its server business, and potentially double shareholders' investment.</p>
<div class="lb-trans"><p>服務器的需求正在飆升。IDC 估計，2024 年服務器支出增長了 73%。預計市場在 2029 年前將以 16% 的複合增長率增長。戴爾只需保持其市場份額領先，就能將其服務器業務翻倍，並可能使股東的投資翻倍。</p>
</div><p>The AI server market specifically is estimated to grow 55% in 2025, according to Bloomberg Intelligence. Dell's 19% year-over-year increase in total revenue last quarter was primarily driven by the strong demand in the AI server market.</p>
<div class="lb-trans"><p>根據彭博情報，AI 服務器市場預計在 2025 年將增長 55%。戴爾上個季度總收入同比增長 19%，主要是由於 AI 服務器市場的強勁需求。</p>
</div><p>Most of Dell's revenue (56%) comes from infrastructure solutions (servers), with the rest coming from client solutions (PCs and peripherals). Dell's PC business is basically an afterthought at this point, as its infrastructure revenue grew 44% year over year last quarter.</p>
<div class="lb-trans"><p>戴爾大部分收入（56%）來自基礎設施解決方案（服務器），其餘來自客户端解決方案（個人電腦和外設）。戴爾的個人電腦業務在此時幾乎被忽視，因為其基礎設施收入在上個季度同比增長了 44%。</p>
</div><p>Dell said it shipped more AI solutions in the first half of the year than it did in all of last year. While the server market is competitive and generates low margins, Dell's competitive advantage is the extensive sales force it uses worldwide to sell to large customers, its ability to offer customized solutions for enterprises, and its speed to market.</p>
<div class="lb-trans"><p>戴爾表示，今年上半年發貨的 AI 解決方案數量超過了去年全年的總量。儘管服務器市場競爭激烈且利潤較低，但戴爾的競爭優勢在於其在全球範圍內為大型客户銷售的龐大銷售團隊、為企業提供定製解決方案的能力以及快速的市場響應。</p>
</div><p>With the server business booming, Dell doesn't need to see much growth from its PC business for investors to do well. This is a server growth story all the way. Analysts expect Dell's adjusted earnings per share to grow at an annualized rate of 13% to reach $14.94 by fiscal 2030 (which ends in January).</p>
<div class="lb-trans"><p>隨着服務器業務的蓬勃發展，戴爾不需要在個人電腦業務上看到太多增長，投資者就能獲得良好的回報。這是一個完全依賴服務器增長的故事。分析師預計，戴爾的調整後每股收益將在 2030 財年（截至 1 月）以 13% 的年化率增長，達到 14.94 美元。</p>
</div><p>The stock currently trades at a conservative forward price-to-earnings multiple of 14. If it can earn a 20 forward earnings multiple in five years, the stock would trade at $300 a share, implying upside of 125% from the current $133 share price. Given the growing sentiment around the AI opportunity, the stock should earn a higher earnings multiple and fuel market-beating returns for Dell investors.</p>
<div class="lb-trans"><p>該股票目前的前瞻市盈率為 14。如果在五年內能達到 20 倍的前瞻市盈率，該股票將以每股 300 美元交易，意味着從當前 133 美元的股價上漲 125%。考慮到對 AI 機會的日益看好，該股票應該能獲得更高的市盈率，併為戴爾投資者帶來超越市場的回報。</p>
</div>

準備迎接爆炸性增長：兩隻可能在 2030 年前上漲 100% 或以上的 AI 股票