计算机行业：英伟达GTC大会聚焦高性能算力迭代

Investment Rating - The report maintains a "Recommended" rating for the computer industry [1] Core Insights - The GTC conference hosted by NVIDIA focuses on the latest advancements in high-performance computing, with the introduction of the Blackwell Ultra architecture, which offers a 1.5x performance improvement over its predecessor [4] - The new GB300 NVL72 system integrates 72 B300 GPUs and 36 Grace CPUs, enhancing inference computing capabilities with a 50% increase in FP4 computing performance and a 50% increase in memory capacity from 192GB to 288GB [4] - The adoption of liquid cooling technology is expected to rise due to the GB300's thermal design power (TDP) of 1.4kW, which is a 16.7% increase from the previous model [4] - The GB300's power management system is upgraded, with the backup battery unit (BBU) becoming a standard feature, ensuring stable power supply during outages [4] - Investment opportunities are highlighted in server ODM manufacturers, liquid cooling supply chains, and server power manufacturers, including companies like Industrial Fulian, Invec, and Magtech [4] Summary by Sections Event Overview - The GTC conference took place from March 17 to 21, 2025, in San Jose, California, where NVIDIA's CEO Jensen Huang presented on high-performance computing advancements [4] Product Launch - NVIDIA launched the Blackwell Ultra architecture, which significantly enhances performance for complex workloads, particularly in inference computing [4] Technology Advancements - The GB300 NVL72 system features a substantial performance boost and increased memory capacity, indicating a shift towards more efficient computing solutions [4] Market Implications - The report suggests that the shift to liquid cooling and upgraded power systems will create new demand in the computing infrastructure market, benefiting various suppliers [4]