Ale's World of Stocks 对 $SNPS 的判断变化
好的，接下来看第三大持仓。我们暂时离开昂贵的数据中心建设者，来看一个软件基础层投资，它使整个芯片行业成为可能。那就是 Synopsys，股票代码 SNPS，其市值 22 亿美元，目前约占 Nvidia 整个投资组合的 3.4%。
Okay, moving on to the third holding. We are actually going to leave behind the expensive data center builders for a second to look at a software foundation play that makes the entire chip industry even possible. And that is in Synopsys, ticker symbol SNPS, which at $2.2 billion now makes up around 3.4% of Nvidia's entire portfolio.
如果你不熟悉这家公司，Synopsys 是所谓的 EDA 软件（电子设计自动化）的专家。基本上，他们制造芯片设计的蓝图软件。
And if you're not familiar with this one, well, Synopsys is a specialist in what is called EDA software or electronic design automation. Basically, they make the blueprint software for chip design.
正如你所见，在 Nvidia、AMD 甚至 Apple 能够生产出一颗芯片之前，他们首先必须在计算机屏幕上设计、模拟和测试数十亿个微观连接，以确保一切正常工作。而 Synopsys 正是该软件的市场领导者。
As you see before Nvidia, AMD, or even Apple can get a single chip produced, they first have to design, simulate, and test billions of microscopic connections on a computer screen to make sure everything even works correctly. Well, Synopsys is the market leader for that exact software.
随着这些 AI 芯片变得更快、更复杂，Synopsys 实际上也在自己的软件中使用 AI，以加速和改进整个流程。
And as these AI chips get faster and much more complex, well, Synopsys is actually using AI themselves within their own software, too, to speed up and improve the entire process.
例如，他们的 DSO.ai 工具会自动找到功耗、速度和芯片尺寸的最佳布局。将过去需要大型团队手工数月才能完成的复杂工程工作，在短短几天甚至几小时内完成。这有点疯狂。
Uh for example, their DSO.ai tool automatically finds the best layout for power, speed, and chip size. Taking complex engineering work that used to take large teams several months to figure out by hand and finishing it in just a few days or sometimes even hours. It's kind of crazy.
此外，他们还通过高利润的知识产权业务授权预制芯片构建模块，使其他公司无需每次重新发明轮子就能制造新芯片。而最近，由于投资者担心其对仿真软件领导者 Ansys 的 350 亿美元巨额收购成本过高，该股实际上略有下跌。
On top of that, they also license out pre-made chip building blocks through their high-margin IP business, which allows other companies to build new chips without having to reinvent the wheel every single time. And more recently, the stock actually dipped a little as investors worry about the high cost of their giant $35 billion acquisition of Ansys, which is a leader in simulation software.
但很难反驳他们迄今为止所取得的成果。上一季度营收飙升超过 42%，轻松超出华尔街对营收和利润的预期。最重要的是，与 AI 领域其他风险较高的公司或我们刚才看到的另外两家公司不同，Synopsys 实际上正在产生现金，今年迄今已产生超过 21 亿美元的正自由现金流。
But it's hard to argue with the results that they've been seeing so far. As revenue last quarter soared by over 42% easily beating Wall Street expectations on both the top and bottom line. Best of all, unlike other riskier names in AI or even the other two that we just looked at right now, uh Synopsys is actually printing cash, generating over $2.1 billion in positive free cash flow so far this year.
由于销售额和每股收益预期实现两位数增长，加上近期股价下跌，其估值也是我们迄今看到的三家公司中最具吸引力的，前瞻性指标仅比行业高出约 10% 至 20%。
Because of the double-digit growth expected in sales and EPS coupled with the recent stock dip, the valuation is also the most attractive of the three that we've seen so far, only trading around 10 to 20% higher than the sector on a forward look on forward-looking metrics.
对于一家目前处于如此强势地位的公司来说，这还不错。所以，尽管我自己并不持有，但我将把它排在我们名单中迄今最高的位置，位列第三。
That's not too bad for a company in such a strong position right now. So, even though I don't own it myself, I am going to rank them the highest so far on our list at number three.
就我个人而言，Synopsys 和 SpaceX 是我目前最感兴趣的两家公司。我正在积极考虑很快涉足它们，尤其是如果 SpaceX 继续下跌的话。
Personally, Synopsis and SpaceX are I would say the the two most intriguing to me personally at the moment. And I am actively thinking about dipping my toes in them soon, especially SpaceX if it continues to fall.