HVLP铜箔成为AI服务器中最大边际变化

Investment Rating - The report assigns an "Outperform" rating for the industry, indicating that the industry index is expected to exceed market benchmarks in the next six months [4]. Core Insights - The rapid development of AI computing infrastructure is driving significant upgrades in AI servers and data centers, with the global data center market projected to exceed $108.62 billion in 2024, reflecting a year-on-year growth of 14.9% [1]. - The demand for high-performance low-profile (HVLP) copper foil is increasing as AI servers require higher integration and power efficiency, leading to a push for high-end printed circuit boards (PCBs) [2]. - Domestic manufacturers are on the verge of breaking the monopoly of foreign suppliers in the HVLP copper foil market, with several companies achieving significant milestones in product validation and production [2]. Summary by Sections AI Computing Infrastructure - The transition from training to inference in generative AI is expanding the demand for AI servers and data centers, with a forecasted market size of $108.62 billion in 2024 [1]. - Government support for AI technology is increasing, with policies aimed at enhancing the supply of computing infrastructure [1]. HVLP Copper Foil - The integration and power consumption of AI servers are driving the need for high-end PCBs, with HVLP copper foil being a critical material for high-frequency and high-speed applications [2]. - Leading companies are accelerating the validation of HVLP products, with expectations for significant production increases by 2025 [2]. - The domestic market is poised for a breakthrough in HVLP copper foil production, potentially reducing reliance on imports and enhancing profitability for local manufacturers [2]. Related Companies - Key players in the HVLP copper foil sector include Defu Technology, Longyang Electronics, and Jiayuan Technology, among others [3].