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AI数据中心增长前景显著上调 高盛看好Arista(ANET.US)、戴尔(DELL.US)成赢家
智通财经网· 2025-09-12 09:55
Core Viewpoint - Goldman Sachs has significantly upgraded the growth outlook for the AI data center equipment market, forecasting a compound annual growth rate (CAGR) of 38% from 2024 to 2029, with the market size reaching $581 billion, up from a previous estimate of $386 billion [1] AI Server Market - The AI server market is expected to grow at a CAGR of 38%, reaching $581 billion by 2029 [1] - The growth is primarily driven by strong demand from hyperscale cloud providers and secondary cloud and service providers [1] - In terms of vertical markets, the 5-year CAGR for AI servers is 28% among hyperscalers, 66% in Tier 2 cloud and service providers, and 36% in the enterprise market [3] AI Data Center Switching Market - The AI data center switching market is projected to grow at a CAGR of 36%, reaching approximately $26 billion by 2029 [1] - The back-end Ethernet switch segment is expected to see particularly strong growth, with a CAGR of 50%, reaching about $14 billion by 2029 [1] - Front-end Ethernet switches are forecasted to grow at a CAGR of 46%, reaching around $10 billion by 2029 [1] - Infiniband switches are expected to decline slightly, with a projected CAGR of -1%, reaching about $2 billion by 2029 [1] Traditional Server Market - The traditional server market is anticipated to experience a slight contraction, with a CAGR of -2% from 2024 to 2029 [1] - The total traditional data center switching market is expected to grow at a CAGR of 5%, reaching approximately $27 billion by 2029 [2] Company Ratings - Goldman Sachs has assigned a "Buy" rating to Arista Networks Inc (ANET.US) with a target price of $155, citing its strong exposure to cloud spending and expected robust revenue and EPS growth [4] - Dell Technologies (DELL.US) also received a "Buy" rating with a target price of $150, benefiting from AI server demand and a recovering PC market [4] - Super Micro Computer (SMCI.US) has been rated "Sell" with a target price of $27, as increased competition in the AI server market is expected to pressure profit margins [4]