国金证券：海外大厂引领高压直流革命，800V产业化进程有望加速

Group 1 - The core viewpoint is that the surge in AI computing power demand is driving a revolutionary change in data center power supply efficiency, with the third-generation HVDC architecture emerging as a key player [1] - Companies are advised to focus on the AC/DC power supply segment that benefits from unit value enhancement [1] - There is potential for power supply manufacturers to enter the HVDC and DC/DC markets leveraging their technological platforms and customer resource advantages in the future [1]