Nvidia(US:NVDA) GUOTAI HAITONG SECURITIES·2025-11-20 12:35Investment Rating - The industry investment rating is "Overweight" [6] Core Viewpoints - NVIDIA's recent decision to switch memory chip types aims to reduce AI server power costs by replacing traditional DDR5 with LPDDR, which is expected to significantly boost demand in the industry [6] - The shift to LPDDR is anticipated to have a ripple effect on the consumer electronics market, as LPDDR is commonly used in mobile devices [6] - Memory prices have increased by 50% this year and are projected to rise an additional 30% in Q4 2025, followed by a further increase of about 20% early next year [6] Summary by Sections - Industry Overview: The report highlights the growing demand for LPDDR memory due to NVIDIA's shift in AI server technology, which is expected to enhance memory pricing and availability in the consumer electronics sector [3][6] - Technological Advancements: SOCAMM, a memory module based on LPDDR, offers 2.5x bandwidth improvement over traditional RDIMM and reduces power consumption by one-third, making server designs more compact and efficient [6] - Market Trends: The report notes that the transition to LPDDR in enterprise solutions may lead to increased supply constraints in consumer-grade memory, further influencing market dynamics [6]