国产Scale-up/Scale-out硬件商业化提速，聚焦AI运力产业投资机遇

Core Insights - The report highlights the growing demand for Scale up switching chips in data centers, with a projected global market size nearing $18 billion by 2030 and an annual CAGR of approximately 28% from 2022 to 2030 [1][3] - The development of AI hardware capabilities is driven by three key components: computing power, storage capacity, and communication capacity, with a focus on domestic solutions for communication capacity [2] - The traditional computing architecture is insufficient for the demands of AI training, leading to the trend of super nodes and large clusters, which significantly boost the demand for Scale up hardware [3] Industry Trends - The collaboration of computing power, storage, and communication is essential for enhancing AI hardware capabilities, with a particular emphasis on domestic advancements in communication capacity [2] - The emergence of super nodes is reshaping the market, as they enhance single-node computing capabilities and drive the demand for Scale up hardware [3] - Different communication protocols are being developed for Scale up and Scale out scenarios, with major companies focusing on proprietary protocols while smaller firms promote public protocols [4] Market Opportunities - The low domestic production rate of communication hardware presents a significant opportunity for domestic companies to fill the gap, particularly in the switching chip market where major players like Broadcom and Marvell dominate [5] - Companies such as Shudao Technology and Shengke Communication are making strides in product commercialization, indicating a growing domestic market for communication hardware [5] - Investment opportunities are identified in companies benefiting from PCIe hardware and Ethernet hardware, including Wantong Development and ZTE [6]