Nvidia(US:NVDA) Zhi Tong Cai Jing·2025-09-25 00:17Core Insights - Nvidia is driving the development of microchannel water cooling plates, enhancing the application expectations for microchannel cooling and reinforcing the logic of liquid cooling inflation in AIDC [1][2] - The transition to new cooling solutions may alter the supply chain landscape, presenting opportunities for domestic liquid cooling component manufacturers, including traditional VC manufacturers, liquid cooling module manufacturers, heat sink manufacturers, and 3D printing companies [1][2] Group 1 - The power consumption of Nvidia's next-generation Rubin/Rubin ultra chips is expected to increase from 1400W to over 2000W, which may exceed the cooling capacity of current single-phase cooling plate solutions [1] - Microchannel cooling plates offer advantages over traditional cooling solutions, such as lower thermal resistance, larger heat exchange area, and higher flow rates due to their micro-channel design and integrated cooling structure [1][2] Group 2 - The manufacturing process for microchannel liquid cooling solutions differs significantly from traditional cooling plates, with key participants including startups focused on microchannel technology, traditional liquid cooling module manufacturers, and cover plate manufacturers [2] - The production of microchannel water cooling plates is currently challenging, requiring upgrades to existing production equipment and specialized processes like etching and 3D printing, which may increase costs compared to existing cooling plate solutions [2]