Nvidia(US:NVDA) Yin He Zheng Quan·2026-03-19 06:28Investment Rating - The report maintains a "Recommended" rating for the electric power equipment industry [1]. Core Insights - The AI industry is transitioning from generative AI to inferential AI, with a significant increase in computational demand, approximately 1 million times over the past two years [2]. - Key performance indicators for AI factories include throughput efficiency and inference speed, with token generation speed being crucial for AI intelligence [2]. - NVIDIA anticipates that the revenue from its Blackwell and Rubin flagship chip product lines will exceed $1 trillion by 2027, a significant increase from the previously projected $500 billion [2]. - The Vera Rubin full-stack AI computing platform was officially launched, featuring a substantial increase in computing power, projected to rise by 40 million times over the next decade [2]. - The power supply for the Vera Rubin NVL72 is expected to be significantly enhanced, with a total power supply of 440KW, representing an increase of over 60% compared to previous models [2][3]. Summary by Sections Industry Progress - The AI industry is evolving towards inferential and intelligent AI, with a focus on optimizing AI infrastructure costs [2]. - NVIDIA's 2025 is defined as the "Year of Inference," aiming to become the most cost-effective and reliable AI infrastructure platform globally [2]. Product Developments - The Vera Rubin platform includes multiple advanced chips and has achieved a significant reduction in deployment time from two days to two hours [3]. - The platform's cooling system utilizes 100% liquid cooling, which enhances energy efficiency and reduces cooling costs [3]. Investment Recommendations - Suggested companies to watch include: - For cabinet power: Megmeet, Euron, Newray, and others [3]. - For external power: Jinpan Technology, Igor, and others [3]. - For liquid cooling solutions: Invec, Shunling Environment, and others [3]. - For data center storage: Sungrow, CATL, and others [3]. - For backup power solutions: Yiwei Lithium Energy, and others [3].