Eaton(US:ETN) Sou Hu Cai Jing·2025-12-26 09:50Core Viewpoint - The power distribution system is undergoing a significant transformation driven by AI and the need for higher power density, resilience, and adaptability to meet the demands of the computing era [2][3]. Group 1: Current Challenges and Solutions - The transition from AC to DC power is a sustainable evolution rather than an abrupt change, with three simultaneous challenges: the leap in computing power, constrained power resources, and reduced fault tolerance [3]. - Eaton emphasizes that power must serve IT computing needs, shifting the focus from merely supplying power to ensuring it keeps pace with computing demands, resource constraints, and risk mitigation [3][4]. - The company is moving away from simply increasing power output to enhancing the dynamic adaptability of power systems to meet the rapid changes in AI workloads [3][4]. Group 2: Product Innovations - Eaton is transforming through "engineering productization," introducing the Power Cube power module, which standardizes complex engineering into modular components for faster delivery, easier expansion, and higher reliability [4][8]. - The UPS systems provide core certainty, while power modules package this certainty for scalable replication, addressing both current and future power delivery needs [6][10]. Group 3: Future Directions - Eaton's approach includes ensuring that power systems can adapt to future computing demands without being tied to a single technology, focusing instead on integrating multiple energy sources and interacting with the grid [6][10]. - The company aims to enhance the power system's ability to respond to evolving energy structures and power metrics, thereby shaping data center architecture choices [6][10]. Group 4: Industry Consensus and Trends - The industry is witnessing a shift where power distribution systems must evolve from being mere support systems to integral parts of computing systems, driven by the increasing demand for AI computing [15][16]. - Data center site selection is now influenced by energy structure, focusing on areas rich in traditional and renewable energy, with a trend towards hybrid power architectures [16][17]. - The modular approach to power delivery is becoming a long-term strategy, allowing for scalable and adaptable power systems that can meet the demands of high-density computing environments [18][19]. Group 5: Operational Insights - Real-world applications demonstrate that power is transitioning from a support role to a driving force for computing, with a focus on proactive risk management and energy efficiency [19][20]. - Companies are increasingly adopting digital energy management systems to shift from reactive maintenance to proactive risk intervention, enhancing their role in urban energy regulation [19][20].