“AI+”系列报告：Deepseek冲击波：AIDC电气设备迎新机

Investment Rating - The report maintains a "Recommended" rating for the electric power equipment and new energy industry [2]. Core Viewpoints - The rapid development of AI is driving a long-term increase in computing power demand, which is heavily reliant on electricity supply [7][8]. - AIDC (Artificial Intelligence Data Center) is experiencing high demand due to the need for intelligent computing, leading to significant growth in power requirements [14][23]. - The report emphasizes the importance of power distribution systems as the core of AIDC infrastructure, highlighting the need for advanced power supply solutions [29][30]. Summary by Sections 1. Computing Power and Electricity Demand - AI's rapid advancement necessitates substantial computing resources, which in turn depend on electricity supply [7]. - The energy consumption of AI models, such as ChatGPT, is significantly higher than traditional computing tasks, indicating a growing trend in power demand [7][8]. - The DeepSeek model is expected to lower training and inference costs, potentially accelerating AI application and hardware adoption [8][9]. 2. AIDC Electrical Equipment Demand Expansion - AIDC is set to replace traditional data centers due to its ability to meet the specific needs of AI applications [14][15]. - The power density of AIDC is projected to increase dramatically, with predictions of reaching the MW era by 2029 [17][23]. - The report identifies key investment opportunities in various segments of the AIDC supply chain, including AC/DC server power supplies, uninterruptible power supplies (UPS), and backup power systems [37][38].