\(N=\left(2+1\right)\left(2^2+1\right)\left(2^4+1\right)\left(2^8+1\right)\left(2^{16}+1\right)\)
\(=\left(2-1\right)\left(2+1\right)\left(2^2+1\right)\left(2^4+1\right)\left(2^8+1\right)\left(2^{16}+1\right)\)
\(=\left(2^2-1\right)\left(2^2+1\right)\left(2^4+1\right)\left(2^8+1\right)\left(2^{16}+1\right)\)
\(=\left(2^4-1\right)\left(2^4+1\right)\left(2^8+1\right)\left(2^{16}+1\right)\)
\(=\left(2^8-1\right)\left(2^8+1\right)\left(2^{16}+1\right)\)
\(=\left(2^{16}-1\right)\left(2^{16}+1\right)=2^{32}-1\)
=>N<M