Xin Lang Cai Jing·2025-09-24 01:12Core Viewpoint - The report from CICC indicates that the AI power supply architecture is upgrading to 800V HVDC, and SST is expected to become the optimal technical route in the long term [1] Group 1: Industry Trends - Major cloud companies have raised their capital expenditure expectations, accelerating AIDC construction [1] - The performance advantages of SST solutions are becoming more prominent, with significant cost reduction potential remaining in technology development [1] Group 2: Company Positioning - Domestic and international companies are actively deploying SST technology, with domestic entrants primarily coming from traditional power equipment, AI power supply, and solar storage charging sectors [1] - Some companies have already applied SST products in projects involving AC/DC hybrid microgrids [1] Group 3: Key Players - The report expresses optimism towards leading companies that have a deep understanding of power electronics, high-frequency transformers, and medium-voltage processing, as well as substantial experience in data center projects [1]