Nvidia(US:NVDA) 智通财经网·2025-11-20 03:47Core Insights - Nvidia has introduced an 800VDC external solution to address the increasing power density issues in cabinets, effectively reducing power loss [1] - The report emphasizes the benefits for terminal manufacturers, the significance of transformers, the growth potential for Delta Electronics as a PCB supplier, and the importance of changes within cabinets [1] Group 1: Nvidia's Proposal - Nvidia's high-voltage direct current (HVDC) system is proposed as a future power supply reference, with medium-voltage rectifiers and solid-state transformers (SST) as ultimate solutions [1][2] - The hardware technology direction of Nvidia is evolving towards efficiency and speed, with the HVDC system addressing the exponential growth in GPU computing power and power density [1] Group 2: Efficiency and Market Trends - Medium-voltage rectifiers convert medium-voltage AC (typically 1kV to 35kV) directly to DC, achieving over 98% efficiency and reduced footprint compared to traditional UPS and HVDC solutions [2] - Major companies, both domestically and internationally, are advancing HVDC technology commercialization, with notable initiatives from Alibaba, Tencent, Meta, and Google [3] Group 3: Industry Chain Dynamics - The core distinction in the industry chain lies in the transformers used, with medium-voltage rectifiers utilizing phase-shifting transformers and solid-state transformers employing high-frequency transformers [4]