我想到了字母（納斯達克股票代碼：goog）（納斯達克股票代碼：googl）是人工智能（AI）專家，早在我將其視為企業或投資想法之前

我認為字母（納斯達克股票代碼：GOOG）（納斯達克股票代碼：GOOGL）是人工智能（AI）專家很久以前我將其視為企業或投資想法。

I thought of Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) as an artificial intelligence (AI) specialist long before I saw it as a business or an investment idea.

我認為字母（納斯達克股票代碼：GOOG）（納斯達克股票代碼：GOOGL）是人工智能（AI）專家很久以前我將其視為企業或投資想法。

The underlying Google organization started its game-changing search engine in the late 1990s. I studied information science and AI at the time (go Noles!), and was fascinated with Google's search engine. Older alternatives like Lycos, WebCrawler, and Alta Vista could also deliver helpful search results but only if you knew how to tweak your queries just right. It was a lot of work to design search strings like (Motley AND Fool AND investing) AND NOT (scam OR speculation), hoping to realize the exact thing I'm looking for.

基本的Google組織在1990年代後期開始了改變遊戲規則的搜索引擎。當時我研究了信息科學和AI（Go Noles！），並對Google的搜索引擎著迷。 Lycos，WebCrawler和Alta Vista等較舊的替代方案也可以提供有用的搜索結果，但前提是您知道如何正確調整查詢。設計搜索字符串，例如（Motley和Fool and Investing）而不是（騙局或投機），這是很多工作，希望意識到我想要的確切內容。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

The magic of Google's search engine is that it went a step further. The search algorithm has become a meme nowadays as it steers web users in certain directions and content publishers strive to capture interest with various details.

Google搜索引擎的魔力是它進一步邁進了一步。如今，搜索算法已成為模因，因為它將Web用戶置於某些方向，並且內容髮布者努力通過各種細節來吸引興趣。

But back then, it was a revelation to see Google's search tool anticipate what the user is really looking for. The top results were even ranked in a sensible way without detailed instructions. These unique qualities were later copied in some way by every serious rival. They are built on deep text analysis -- also known as machine learning or artificial intelligence.

但是那時，看到Google的搜索工具可以預見用戶真正想要的東西，這是一個啟示。最高結果甚至以明智的方式進行排名，沒有詳細的說明。這些獨特的品質後來以某種方式被每個認真的競爭對手複製。它們建立在深層文本分析的基礎上 - 也稱為機器學習或人工智能。

Alphabet turned obscure AI stuff into everyone's assistant

字母將晦澀的人工智能變成了每個人的助手

Not much has changed after more than 25 years. Google kept improving its search engine, surrounded it with other AI-based tools such as Google Translate and the Google Maps navigation functions, and made AI easily available to anybody. Long before adopting the Alphabet moniker, Google was an AI expert for the masses.

超過25年後，變化不大。 Google一直在改進其搜索引擎，並用其他基於AI的工具（例如Google Translate和Google Maps Navigation功能）包圍它，並使任何人都可以輕鬆使用AI。在採用字母綽號之前，Google是群眾的AI專家。

So I wasn't surprised when the company had a large language model (LLM) ready to go just a few months after OpenAI released its ChatGPT 3 platform. If anything, I can't wait to see what Alphabet still hides behind the AI lab's closed doors today.

因此，當該公司擁有大型語言型號（LLM）準備好幾個月後，我並不感到驚訝。如果有的話，我迫不及待地想看看AI Lab關門的門後仍隱藏著哪些字母。

Alphabet's AI muscle keeps Google search on top

Alphabet的AI肌肉將Google搜索保持頂部

Alphabet's Google arm remains unbeatable in the online search and advertising market -- to a large extent because of its longtime AI commitment. The Gemini LLM is also a leading ChatGPT challenger, and is already integrated into the popular Gmail and Google Docs tools. The classic Google Search experience got an AI mode in March 2025, too. The Gemini system is going places.

Alphabet的Google Arm在在線搜索和廣告市場中仍然是無與倫比的 - 由於其長期的AI承諾在很大程度上。 Gemini LLM也是領先的Chatgpt Challenger，並且已經集成到流行的Gmail和Google Docs工具中。經典的Google搜索體驗也於2025年3月獲得了AI模式。雙子座系統正在運行。

Google's AI competence is simply not up for discussion. I'm talking about a proven leader here, with an enormous amount of engineering and financial resources to throw behind the next big idea.

Google的AI能力根本無法討論。我在這裡說的是一位經過驗證的領導者，擁有大量的工程和財務資源，以落後於下一個大想法。

Beating the market with Alphabet

用字母擊敗市場

Google (and Alphabet) has been very kind to longtime investors. If you invested just $1,000 when Google hit the stock market in August 2004, that investment would be worth more than $63,700 on May 13, 2025.

Google（和Alphabet）對長期投資者非常友善。如果您在2004年8月在Google上市時只投資了1,000美元，那麼該投資的價值將超過2025年5月13日的63,700美元。

Still, the stock has never looked overvalued. Even now, about two and a half years into the ChatGPT-powered AI boom, Alphabet's valuation ratios look downright affordable. AI rivals like Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) can't hold a candle to Alphabet's value-investing appeal:

儘管如此，該股票看上去從未被高估。即使是現在，在Chatgpt驅動的AI Boom大約兩年半的時間裡，字母的估值比率看上去負擔得起。 Microsoft（NASDAQ：MSFT）和NVIDIA（NASDAQ：NVDA）等AI競爭對手無法持有Alphabet的價值投資上訴：

AI Stock

AI股票

Market Capitalization

市值

Price to Earnings (P/E)

收入的價格（P/E）

Price to Sales (P/S)

銷售價格（p/s）

Price to Free Cash Flow (P/FCF)

自由現金流的價格（P/FCF）

Alphabet

字母

$1.95 trillion

$ 19.5萬億美元

17.8

5.4

26.0

Microsoft

微軟

$3.33 trillion

3.33萬億美元

34.6

12.3

48.0

Nvidia

$3.19 trillion

3.19萬億美元

44.4

24.4

52.4

Data collected from Finviz.com on May 13, 2025.

2025年5月13日從Finviz.com收集的數據。

Alphabet's stock price could double and still compare favorably to Microsoft and Nvidia's valuation ratios. I'll agree that Nvidia has earned its premium price via unbeatable business growth, but Alphabet's sales and earnings are rising faster than Microsoft's. Is Alphabet's stock undervalued or Microsoft's overpriced? You be the judge.

Alphabet的股票價格可能會翻一番，並且與Microsoft和Nvidia的估值比率相比仍然有利。我同意，NVIDIA通過無與倫比的業務增長獲得了高級價格，但是Alphabet的銷售和收益速度比Microsoft的增長速度更快。 Alphabet的股票被低估還是微軟價格過高？你是法官。

Let's just say that I only own one of these two AI stocks, and my choice isn't headquartered in Redmond, Washington.

假設我只有這兩個AI股票之一，而我的選擇並未在華盛頓雷德蒙德（Redmond）設立。

Alphabet has come a long way from the Stanford garage of its youth, and it's still a thrilling growth story. With or without broad market corrections along the way, I'm almost always a buyer of Alphabet's stock. It's only more tempting in times like these, as the stock trades 23% below February's all-time highs.

Alphabet距離其年輕的斯坦福大學車庫已經走了很長一段路，這仍然是一個令人激動的成長故事。在此過程中，無論有沒有廣泛的市場校正，我幾乎總是Alphabet股票的買家。在這樣的時期，這只是更誘人的，因為股票的交易價格低於2月的歷史高潮。

Should you invest $1,000 in Alphabet right now?

您現在應該在字母表上投資1,000美元嗎？

Before you buy stock in Alphabet, consider this:

在您在字母內購買股票之前，請考慮以下方式：

The Motley Fool Stock Advisor analyst team just identified what they believe are the 1

Motley Fool Stock Advisor分析師團隊剛剛確定了他們認為是1