Nvidia(US:NVDA) 势银芯链·2025-08-08 03:40Core Viewpoint - NVIDIA plans to upgrade its existing CoWoS technology to CoWoP solution by around 2027, which will eliminate the packaging substrate and directly install the CoW wafer-level packaged semi-finished products onto a reinforced PCB. This transition poses significant challenges in PCB wiring technology and signal transmission design [2]. Group 1: Technology Analysis - The current advanced packaging substrate L/S for CoWoS is below 10/10 microns, utilizing a semi-additive process more aligned with semiconductor manufacturing. In contrast, the PCB industry primarily employs mature subtractive processes, with high-precision PCBs typically having L/S concentrated around 75-50 microns [2]. - High-end HDI boards and SLP substrates, even with improved semi-additive processes, can only achieve a maximum L/S of 30-25 microns, which is significantly less precise than the required 10-micron ultra-fine pitch [2]. Group 2: Market Implications - Traditional PCB manufacturers may find it challenging to benefit from the CoWoP concept, but it could help IC substrate manufacturers establish a new competitive edge. The main challenge for substrate manufacturers is to increase the size of organic substrates and update equipment suppliers' products [3]. - Glass substrate developers may benefit from this transition due to superior thermal conductivity and stability compared to current PCBs and organic substrates. The primary challenge lies in controlling the graphic process during large-size production, particularly regarding fragmentation, film adhesion, and fine wiring [3]. - Current PCB large board glass substrates can achieve line width and spacing breakthroughs of 20/20 microns. If the initial CoWoP technology can utilize this precision glass packaging substrate, it would represent a significant step towards industrialization [3].