AI-Driven Rally Set To Expand To Power, Commodities, Utilities: 'It's Not Just About Nvidia Anymore'
AI-Driven Rally Set To Expand To Power, Commodities, Utilities: 'It's Not Just About Nvidia Anymore'
$NVIDIA (NVDA.US)$ is in the spotlight this week as it prepares to report its first-quarter 2024 earnings on Wednesday. This announcement marks the first anniversary of its remarkable first-quarter 2023 earnings, which ignited an AI-driven rally in the chipmaker industry.
$英伟达 (NVDA.US)$ 本周备受关注,该公司准备在周三公布其2024年第一季度财报。该公告标志着其2023年第一季度丰厚收益一周年,这引发了芯片制造商行业人工智能驱动的反弹。
The consensus among Wall Street analysts predicts Nvidia to report an earnings per share (EPS) of $5.60, more than five times the EPS from the same quarter last year. Revenue projections are similarly optimistic, with expectations set at $24.59 billion, over three times the revenue in Q1 2023.
华尔街分析师的共识预测,英伟达公布的每股收益(EPS)为5.60美元,是去年同期每股收益的五倍多。收入预测同样乐观,预期为245.9亿美元,是2023年第一季度收入的三倍多。
As Bank of America noted in a recent note, since the 'blowout' Q1 2023, Nvidia's market capitalization has surged by $1.5 trillion. The company's last twelve months (LTM) EPS has skyrocketed by 617% year-over-year, and mentions of AI during corporate earnings calls have increased by 186%.
正如美国银行在最近的一份报告中指出的那样,自2023年第一季度 “井喷式” 以来,英伟达的市值激增了1.5万亿美元。该公司过去十二个月(LTM)的每股收益同比增长了617%,在公司财报电话会议上提及人工智能的次数增加了186%。
Yet, the AI-driven gains initiated by Nvidia are now expected to extend beyond the chipmaking sector to encompass power, commodities, and utilities, according to Bank of America's analysts.
然而,根据美国银行的分析师的说法,英伟达发起的人工智能驱动的收益现在预计将不仅限于芯片制造领域,还将涵盖电力、大宗商品和公用事业。
'It's not just about Nvidia anymore,' Ohsung Kwon, CFA, equity and quant strategist at Bank of America, stated.
美国银行股票和量化策略师Ohsung Kwon表示:“这不仅仅是英伟达的事,” 首席财务官、股票和量化策略师Ohsung Kwon表示。
Nvidia has driven 37% of S&P earnings growth over the LTM and 11% of returns. However, it is projected to contribute only 9% to earnings growth over the next 12 months.
英伟达在LTM上推动了标准普尔收益的37%和11%的回报。但是,预计在未来12个月中,它对收益增长的贡献仅为9%。
Nvidia's 1-Year Share Price Performance vs. Semiconductor Industry – iShares Semiconductor ETF (NASDAQ:SOXX)
英伟达1年股价表现与半导体行业对比——iShares半导体ETF(纳斯达克股票代码:SOXX)
Demand From AI Data Centers To Fuel Gains In Power Players
来自人工智能数据中心的需求推动了实力企业的增长
McKinsey projects a 10-12% annual increase in global data center power demand between 2020 and 2030.
麦肯锡预计,在2020年至2030年之间,全球数据中心的电力需求每年增长10-12%。
Bank of America analyst Andrew Obin believes that "AI adoption adds potential upside to these forecasts."
美国银行分析师安德鲁·奥宾认为,“人工智能的采用为这些预测增加了潜在的上行空间。”
The investment bank foresees that various sectors will benefit from AI-centric demand growth, including power producers with merchant capacity, grid equipment providers, pipeline companies, and grid technology providers. Commodities such as copper and uranium are also expected to benefit.
该投资银行预计,各行各业将受益于以人工智能为中心的需求增长,包括拥有商业容量的电力生产商、电网设备提供商、管道公司和电网技术提供商。铜和铀等大宗商品预计也将受益。
Amid this backdrop, Vertiv Holdings LLC (NYSE:VRT), a manufacturer of power and cooling equipment for data centers, has significantly outperformed Nvidia by 300% since Nvidia's spectacular AI quarter last year.
在这种背景下,自去年英伟达引人注目的人工智能季度以来,数据中心电力和冷却设备制造商维帝夫控股有限责任公司(纽约证券交易所代码:VRT)的表现已大大超过英伟达300%。
Vertiv's portfolio, which includes electrical and thermal equipment for data centers, accounts for approximately 75% of its revenue. Projections suggest that global data center demand could reach 126-152 GW by 2030, driving around 250 TWh of new electricity demand, equating to 8% of total US power demand by 2030. Data centers operate a highly power-intensive model, necessitating constant power access and reliable connectivity.
Vertiv的产品组合包括用于数据中心的电气和热设备,约占其收入的75%。预测表明,到2030年,全球数据中心需求可能达到126-152吉瓦,推动约250太瓦时的新电力需求,相当于2030年美国总电力需求的8%。数据中心采用高度耗电的模式,需要持续的电力接入和可靠的连接。
Chart: Power Player Vertiv Holdings Sharply Outperformed Nvidia In The Last Year
图表:去年,实力巨头维帝控股的表现大幅超过英伟达
Utilities To Benefit From AI-Driven Power Demand
公用事业将受益于人工智能驱动的电力需求
Paul Cole, a research analyst at Bank of America, commented, "Investors in utilities are likely too cautious in estimating the incremental margin opportunities presented by data center growth."
美国银行的研究分析师保罗·科尔评论说:“公用事业投资者在估计数据中心增长带来的增量利润机会时可能过于谨慎。”
He identified $Constellation Energy (CEG.US)$, $Public Service Enterprise Group (PEG.US)$, $Vistra Energy (VST.US)$, $NextEra Energy (NEE.US)$, and $Dominion Resources (D.US)$ as clear beneficiaries of the data center proliferation and the associated increase in power needs.
他确定了 $Constellation Energy (CEG.US)$, $公务集团 (PEG.US)$, $Vistra Energy (VST.US)$, $新纪元能源 (NEE.US)$,以及 $道明尼资源 (D.US)$ 显然是数据中心扩张和相关的电力需求增加的受益者。
Chart: Year-To-Date Performance Of $CEG, $VST, $NEE and $D
图表:$CEG、$VST、$NEE 和 $D 的年初至今表现