AI的进击时刻系列2：GB300单颗GPU PCB价值量有望提升，产业链量价齐升

Investment Rating - The report assigns a "Buy" rating for the companies mentioned, indicating an expectation that their stock prices will outperform the market by more than 10% over the next 12 months [28]. Core Insights - The report highlights the significant growth potential in the NV AI server PCB market, projecting an increase from $330 million in 2023 to $1.72 billion by 2025, representing a year-on-year growth rate of 117% [3][19]. - The GB300 PCB is expected to enhance the value of single GPU PCBs, with value estimates ranging from $382 to $501, which is an increase of 17% to 39% compared to the GB200 PCB [3][18]. - Domestic companies like Shenghong Technology and Huidian Co. are positioned as key players in the AI PCB market, actively developing high-performance PCBs for AI servers [3][22]. Summary by Sections 1. GB200/GB300 PCB Comparison - The GB300 PCB is anticipated to have a larger area usage and increased value compared to the GB200 PCB, with single GPU PCB value expected to rise significantly [3][12][16]. 2. NV AI Server PCB Supply and Demand Landscape - The NV AI server PCB market is projected to grow substantially, with the GB200 and GB300 PCBs expected to account for a significant portion of the market size by 2025 [3][21]. - The report outlines the supply chain dynamics, indicating that domestic manufacturers are gearing up to meet the increasing demand for AI PCBs [3][19]. 3. Investment Recommendations - The report suggests focusing on core beneficiaries within the industry, specifically Shenghong Technology and Huidian Co., as they are well-positioned to capitalize on the growth in the AI server PCB market [3][22].