鉴于AMBA市值较小且在边缘AI/机器人领域具有战略价值，它很可能成为收购目标。
逐段跳播
第一只股票，我选的是Ambarella，代码是“AMBA”。你稍后大概会解释，我们会看到这是已经出现过一些收购谈判的公司之一。
for the first stock, I have Ambarella, and its symbol is "AMBA". As you will probably explain shortly, we will see that this is one of the companies that has already seen some acquisition talks.
Ambarella是一家总部位于美国的半导体公司。它目前的市值约为30亿美元，视当天情况可能略低一些。这使它多少属于小市值公司的范畴。
Ambarella is a US- based semiconductor company . Its current market value is around $3 billion, and may be slightly less depending on the day. This puts it somewhat in the category of companies with a small market capitalization.
该公司设计低功耗、高性能的系统级芯片，即用于边缘人工智能、计算机视觉和视频处理的处理器，应用于它所谈及的一些关键市场，如汽车市场、物联网、机器人和监控摄像头。
The company designs low-power, high-performance systems-on-a-chip, processors for edge artificial intelligence, computer vision, and video processing used in some of the key markets it talks about, such as the automotive market, the Internet of Things, robotics, and surveillance cameras.
他们的旗舰产品是“CV X”系列，即他们AI驱动的系统级芯片处理器。它最近推出了一款名为“X7”的新加速器，面向边缘人工智能基础设施。
Their flagship product is the "CV X" series, their AI-powered systems-on-a-chip processors. It recently launched a new accelerator called "X7", targeting the edge artificial intelligence infrastructure .
我想解释一下为什么我认为这可能是一个潜在的收购目标。既然Ambarella是一个非常年轻的参与者，对吧？30亿美元，而所有这些AI公司手里的钱远不止这个数，加上它直接涉足边缘AI芯片，而且随着主要半导体公司和云计算提供商竞相构建边缘AI，最重要的是，物理AI已经成为许多这类公司的一个非常大的话题，对吧？
I want to explain why I think this could be a potential acquisition target. Since Ambarella is a very young player , isn't that right? $3 billion, and with all these AI companies that have much more money than that, and being directly involved in edge AI chips, and as major semiconductor companies and cloud computing providers race to build edge AI, and most importantly, physical AI has become a very big topic for many of these companies , hasn't it?
所以，如果你有一个产品或者某种形式的研发，而公司市值只有30亿美元，我认为它就会成为收购目标，对吧？即便有人想瞄准那些试图在机器人领域开展工作的大型实验室公司。我们听到像OpenAI这样的公司说，他们对物理人工智能和机器人技术真的非常兴奋。
如果你能在自己公司价值数万亿美元的时候花上几十亿美元把这一点结合起来，我认为就存在机会。
So , if you have a product or some form of research and development, and a company with a market value of $3 billion, I think it becomes a target for acquisition, right ? Even if someone wanted to target large laboratory companies that are trying to work in the field of robotics.
We hear companies like OpenAI saying they are really excited about physical artificial intelligence and robotics. If you can combine that by spending a few billion dollars while your company is worth trillions of dollars, I think there is an opportunity.
既然我已经解释了一些我认为它是收购目标的理由，那我们稍微谈谈它上一个季度。他们最近录得营收1.08亿美元。那是同比增长13%。这是公司的纪录，受人工智能、汽车领域和物联网的需求推动。
Now that I've explained some of the reasons why I think she's a takeover target, let's talk a little about her last quarter. They recently recorded revenues of $108 million. That was a 13% year-on-year increase.
This was a record for the company, driven by demand for artificial intelligence, the automotive sector, and the Internet of Things.
记住，汽车市场此前有点疲软。我们从业内其他参与者那里听到，这个领域要么已经企稳，要么已经开始略微复苏。非GAAP毛利率达到约59.3%，对于一家在半导体行业运营的公司来说，这相当令人振奋且健康。
Remember that the car market was a bit weak . We have heard from other players in the industry that this sector has either stabilized or begun to recover slightly. Non-GAAP gross profit margins reach approximately 59.3%, which is quite exciting and healthy for a company operating in the semiconductor industry.
从趋势来看，过去两年营收几乎翻了一倍，而公司仍预计这一势头将持续下去。
Looking at the trend, revenues have nearly doubled over the past two years, and the company still expects this to continue.
Amperella 的增长故事目前由先进的 AI 推理芯片驱动，他们不仅专注于先进制程，而且已经在采用 5 纳米技术，这在当下非常先进。这说明他们目前已经有某种研发正在进行中。
Amperella's growth story is currently driven by advanced AI inference chips , and they are not only focusing on advanced nodes, but they are operating with 5- nanometer technology, which is very advanced at the moment .
This tells you that they already have some kind of research and development currently underway.
公司上调了其可服务市场的 5 年预估，预计到 2032 财年将达到约 229 亿美元，意味着约 20% 的复合年增长率，其中物联网预计将在最后一年占该市场的 70%。
The company raised its 5-year estimate for the serviceable market, projecting it to be around $22.9 billion by fiscal year 2032, implying a compound annual growth rate of about 20%, with the Internet of Things expected to make up 70% of that market in the final year.
显然，凭借他们在汽车供应商以及中国某些厂商那里赢下的新设计，机会是存在的。目前，他们的主要风险在于规模较小的厂商，因为高昂的内存成本和供应限制限制了他们的一些增长机会。我们看到大厂在确保自己尽可能拿到供应。
因此，一些较小的厂商被排在名单末尾，或者要为其中一些内存解决方案支付更高的价格，而这肯定会根据供应端的情况影响潜在的收入增长。
Clearly, with their winning new designs with car suppliers and with certain players in China as well, the opportunity is there. Now, the main risk for them lies with the smaller players currently, as high memory costs and supply constraints limit some of their growth opportunities.
We see the big players making sure they get as much supply as possible. Therefore, some smaller players are placed at the end of the list or expect higher prices for some of these memory solutions , and this will certainly affect potential revenue growth depending on the supply side.
毛利率也可能受到当前冲击整个行业的内存价格大幅上涨的影响。
Gross profit margins are also likely to be affected by the massive increase in memory prices that is currently impacting the entire sector.
因此，我的首选会是“Ambarella”，我主要关注他们，是因为他们是机器人和物联网领域的参与者，并且专注于边缘端的人工智能推理。对于一家想要进入这个市场的大型公司来说，收购他们并掌握他们所拥有的大量研究，看起来是一个机会。
Therefore, my first choice would be "Ambarella," and I focus on them mainly because they are players in the field of robotics and the Internet of Things, and they focus on artificial intelligence inference at the edge.
It looks like an opportunity for a larger company that wants to enter this market to acquire them and get hold of much of the research they possess.
一些值得关注的有意思的名字。Unity、Ambrella 以及 Target 或者说 Tarjay，是我们认为可能是有意思的收购目标的三家公司。
Some interesting names to keep an eye on. So, Unity, Ambrella, and Target or Tarjay are three companies that we believe could be interesting acquisition targets.
这个频道对 $AMBA 的历次判断
The Motley Fool 在这只股票上只有这一条判断。