Nvidia(US:NVDA) SINOLINK SECURITIES·2025-03-19 09:25Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies involved Core Insights - NVIDIA has launched the memory-enhanced Blackwell product, Blackwell Ultra, which features a 50% increase in single-card Dense FP4 computing power compared to the B200 series, with an HBM configuration upgraded to 288GB HBM3e, expected to ship in the second half of 2025 [2][4] - The release of the Rubin and Rubin Ultra products has been delayed by approximately six months compared to previous expectations, with the first Rubin product now expected in the second half of 2026 and Rubin Ultra in the second half of 2027, primarily due to challenges in process, packaging, and cabinet technology [2][12] - NVIDIA introduced the Spectrum-X Photonics and Quantum-X Photonics silicon photonic switch platforms, achieving a single-port rate of 1.6 Tb/s and a total bandwidth of up to 400 Tb/s, significantly enhancing data center transmission performance [2][16] - The DGX Spark and DGX Station were launched to promote AI supercomputing capabilities to personal desktop environments, with DGX Spark offering 1,000 TOPS of computing power and DGX Station providing 20 PFLOPS [2][19][22] - The open-source inference service framework, NVIDIA Dynamo, was released to optimize large-scale AI model inference deployment, achieving up to a 30-fold increase in request processing capability [2][23] Summary by Sections Blackwell Ultra Product Launch - NVIDIA officially launched the Blackwell Ultra product, which shows a 50% increase in single-card Dense FP4 computing power compared to the B200 series, with an expected release in the second half of 2025 [4][6] Rubin and Rubin Ultra Roadmap - The Rubin and Rubin Ultra products were announced, with a unified GPU die counting standard introduced, and the first Rubin product's release delayed to the second half of 2026 [8][12] Silicon Photonic Switch Products - The Spectrum-X and Quantum-X Photonics platforms were introduced, enhancing data transmission rates and supporting large-scale AI clusters [16][18] Personal AI Computers - The DGX Spark and DGX Station were launched, targeting personal AI computing needs with significant performance capabilities [19][22] Open-source Inference Framework - NVIDIA Dynamo was released to enhance AI model inference performance, significantly improving processing capabilities [23]