朱雀基金陈亚博：全球能源格局重构 拥抱电力三大机会

Core Insights - The integration of AI technology into production and daily life is driving significant changes in the power industry, highlighting the increasing importance of electricity supply as a core element supporting this trend [1][2] - The demand for electricity is expected to rise due to AI's high consumption during training and inference processes, with specific examples indicating substantial energy requirements for models like OpenAI's GPT-3XL [1] - Aging infrastructure poses challenges for power grids, particularly in Europe and North America, which may affect the stability and safety of electricity supply [1] Group 1: Opportunities in the Power Industry - The power sector is witnessing three main areas of opportunity: grid-side, user-side, and power-source side [2] - On the grid side, the demand for overseas power equipment is increasing due to factors such as data center integration and aging infrastructure, creating favorable conditions for Chinese companies to expand internationally [2] - The integration of source-grid-load-storage models is expected to enhance energy efficiency and reliability, potentially serving as a green power solution for data centers [2] Group 2: Technological Upgrades and Innovations - The user side is experiencing a trend of technological upgrades, with increasing power density in data center racks, which may lead to a shift towards higher voltage and direct current supply architectures [2] - The adoption of 800V direct current systems and solid-state transformers (SST) is anticipated as potential solutions for powering intelligent computing centers [2] - On the power source side, various energy types such as gas power, nuclear power, solid oxide fuel cells (SOFC), and renewable sources are expected to enhance the power capabilities for data centers [2][3]