#頭條首發大賽#
快速導讀
Nvidia, the world’s largest GPU manufacturer, has seen a significant shift in revenue with data center GPU sales now dominating its business, driven by the rapid growth of the AI market. Nvidia’s high-end GPUs are crucial for accelerating machine learning and AI tasks and are widely used by major players in the generative AI field like OpenAI, Microsoft, and Google. With an 88% market share in discrete GPUs, Nvidia faces high chip demand exceeding supply capacity. Analysts predict a 98% revenue and 109% profit growth in the 2025 fiscal year, making its stock’s forward earnings of less than 50 times seem reasonably valued.
Super Micro Computer, known for producing high-performance liquid-cooled servers for demanding tasks, has secured a 10% share in the specialized AI server market through collaboration with Nvidia. Projected to expand market share to 17% in the next three years, Super Micro is poised for growth as the overall market is expected to increase by 150%. Despite half of its revenue coming from AI servers, the company aims to enhance this percentage by competing with larger server manufacturers and introducing new AI servers powered by cost-effective AMD chips.
Microsoft has regained growth momentum by expanding its cloud-based services and Azure platform, becoming the world’s second-largest cloud infrastructure provider after Amazon Web Services. Through strategic investments like becoming OpenAI’s largest investor, Microsoft integrates generative AI tools into its services, driving Azure’s growth and enhancing its competitive edge against Google. The company’s foray into the gaming sector, with the acquisition of Activision Blizzard, further solidifies its market position. Analysts project a 14% revenue growth and 13% adjusted earnings growth in the 2025 fiscal year, reflecting Microsoft’s balanced exposure in cloud, AI, and gaming fields. Despite a forward earnings multiple of 34 times, the company’s strong fundamentals support its valuation.
Nvidia
Nvidia，全球最大的GPU生産商，其收入來源發生了重大變化，資料中心GPU銷售現在主導着其業務。這一激增主要歸因于人工智能市場的快速增長，Nvidia的高端GPU對加速機器學習和人工智能任務至關重要。公司的GPU被廣泛應用于生成式人工智能領域的主要參與者，如OpenAI、微軟和谷歌。占據離散GPU市場88%份額，Nvidia的晶片需求量大，超過了供應能力。分析師預測，在2025财年，收入和利潤将分别增長98%和109%，使其股票的前瞻收益不到50倍看起來合理價值。
Super Micro Computer
超微計算機，又稱超微，通過生産面向苛刻任務的高性能液冷伺服器，打造了自己的市場領域。與Nvidia的合作使其提前獲得高端資料中心GPU的使用權，使其在專用AI伺服器市場上占據了10%的份額。預計未來三年将把市場佔有率擴大到17%，随着整體市場增長150%，超微将迎來增長的機遇。盡管已經有一半的收入來自AI伺服器，但預計通過與更大的伺服器制造商競争，并推出由AMD的成本效益晶片驅動的新AI伺服器，公司将進一步提高這一百分比。
Microsoft
微軟近年來通過擴大基于雲的服務和Azure平台，重新成為增長股。在亞馬遜雲服務之後，微軟成為全球第二大雲基礎設施提供商。通過戰略投資，如成為OpenAI最大的投資者，微軟将生成式人工智能工具整合到其服務中，推動了Azure的增長，并增強了其在與谷歌的競争中的競争優勢。公司進軍遊戲領域，通過收購動視暴雪，進一步鞏固了其在市場上的地位。分析師預計，2025财年，收入增長14%，調整後的收益增長13%，反映了微軟在雲、人工智能和遊戲領域的平衡曝光。盡管交易時的前瞻收益是34倍，但公司強大的基本面證明了其估值的合理性。