英伟达GTC专题：新一代GPU、具身智能与AI应用

Investment Rating - The report suggests a focus on the new generation of GPUs, embodied intelligence, and AI applications, indicating a positive investment outlook for these sectors [2][3]. Core Insights - The GTC 2024 event is anticipated to showcase breakthroughs in accelerated computing, generative AI, and robotics, with significant participation from major companies [2][4]. - The B100 GPU, based on the new BlackWell architecture, is expected to deliver performance improvements, potentially doubling the performance compared to the H200 series and quadrupling that of the H100 [2][6]. - The report emphasizes the importance of embodied intelligence and humanoid robots, highlighting investments in companies like Figure AI and advancements in AI applications across various industries [2][8][11]. Summary by Sections New Generation GPUs - The B100 GPU is projected to utilize a multi-chip module design, with a manufacturing process from TSMC at 3nm or N4P, and a power consumption of up to 1000W [6][16]. - The GB200 is expected to be released between 2024-2025, featuring a combination of CPU and GPU with enhanced performance metrics [26][28]. Embodied Intelligence and Robotics - The GTC 2024 will feature 25 robots from companies like Agility Robotics and Boston Dynamics, showcasing advancements in humanoid robotics [8][11]. - NVIDIA's investment in humanoid robotics and the establishment of the GEAR lab indicate a strategic focus on embodied intelligence as a key growth area [8][11]. AI Applications - The report highlights the participation of over 1000 companies at GTC 2024, showcasing NVIDIA's platform applications in sectors such as agriculture, automotive, and cloud services [11][12]. - The total addressable market (TAM) for AI technology is projected to double in the next five years, indicating significant growth potential for AI-driven solutions [11][12]. Optical Communication and Liquid Cooling - The demand for 1.6T optical modules is expected to emerge in 2024, driven by the rapid growth of AI technologies and data requirements [33][35]. - The report discusses the shift towards liquid cooling solutions in data centers, with companies actively developing innovative cooling technologies to manage increasing power consumption from AI hardware [21][23]. Investment Recommendations - The report recommends focusing on companies involved in optical modules, liquid cooling, ICT equipment, and data centers, highlighting specific firms such as 中际旭创, 英维克, and 宝信软件 as potential investment opportunities [3][21].