Core Viewpoint - Solid State Transformers (SST) are expected to become the ultimate solution for AIDC power management due to their high efficiency and low footprint, with Delta's 800V SST system reaching MW-level capacity and Nvidia planning full deployment of its 800V high-voltage direct current architecture by 2027 [1][2]. Group 1: Industry Trends - Data centers are moving towards higher power levels, with power supply system efficiency becoming crucial as single cabinet power has increased from 8KW to over 30KW, and Nvidia's single cabinet power reaching 120KW [2]. - Traditional DC distribution methods are facing bottlenecks due to space limitations, copper overload, and low conversion efficiency, necessitating a new power supply architecture [2]. - In typical AIDC projects, power-related equipment costs account for nearly 50% of total costs, indicating high value and continuous iteration [2]. Group 2: SST Advantages - SST achieves high efficiency by replacing traditional transformers with high-frequency power electronics, allowing for system efficiencies of up to 98% [3]. - SST's modular design significantly reduces equipment size by approximately 40%, integrating rectification, conversion, and inversion processes [3]. Group 3: Market Opportunities - The 800V HVDC is seen as a starting point for SST penetration, offering active flexibility and green electricity adaptability, which can open broader application markets [4]. - SST can actively control power quality, addressing grid disturbances and load fluctuations, while also supporting bi-directional power flow [4]. - The new grid architecture using SST can accept 50%-70% renewable energy, improving performance by 1.3-2 times compared to traditional grid structures [4]. Group 4: Related Companies - Key players in SST systems include Sifang Co., Ltd. (601126.SH), China XD Electric (601179.SH), Jinpan Technology (688676.SH), and Xinte Electric (301120.SZ) [5]. - Companies involved in SST materials include Keli (002782.SZ) and Yunlu Co., Ltd. (688190.SH), with products covering a wide frequency range [5].