AI发展的最大瓶颈，竟然不是算力？ 微软掌门人萨提亚·纳德拉在采访中再爆金句：现在最大的问题不是芯片，而是电力。 这句话一发酵，成了近期A股电网设备上涨的驱动力，今天电网设备成分股早盘一度冲高。 值得一提的是，全市场唯一的电网设备ETF(159326)在近20日里吸金超过5.27亿，最新规模创下历史新高。 电力，这个曾经被视为传统而稳定的行业，正因AI的算力需求而焕发新生。 01 又缺电了 周一A股缩量调整，截至收盘，上证指数跌0.41%，深证成指跌1.71%，创业板指跌1.96%，北证50跌2.45%。沪深京三市全天成交额19384亿元，较上日缩 量1945亿元。 板块题材上，福建、电网设备、银行、冰雪产业、影视院线、造纸板块涨幅居前；有色金属、PEEK材料、减肥药、风电设备、机器人、电池板块跌幅居 前。 近期两大主题——可控核聚变和AI持续发酵，带动电网设备板块上涨。今天神马电力盘中创新高，摩恩电气、中能电气、冠城新材涨停，思源电气涨超 5%，电网设备ETF(159326)一度涨超2.5%。 | 문을 | ਜਾਣ | 名称 | 涨跌幅\ | | --- | --- | --- | --- | | 1 | ...

Core Insights - The main issue facing AI development is not chip supply but rather the lack of sufficient electricity to support GPU operations, as highlighted by Microsoft CEO Satya Nadella [1][7][11] - The demand for electricity is surging due to the rapid expansion of data centers driven by AI, leading to significant implications for the energy sector [10][12][15] Group 1: Electricity Demand and AI - The AI competition is evolving into an electricity competition, with the explosion of AI computing power driving a new cycle of electricity demand growth in North America [10][12] - OpenAI has urged the U.S. government to significantly increase investments in electricity infrastructure, suggesting a target of adding 100 GW of generation capacity annually [11][12] - Data centers are projected to account for 8.1% of total U.S. electricity consumption by 2030, up from 4.2% in 2024, indicating a substantial increase in demand [15][17] Group 2: Market Trends and Investment Opportunities - The global nuclear fusion market is expected to exceed $40 trillion by 2050, indicating a long-term growth opportunity in energy technology [4][7] - The electric grid investment cycle is currently favorable, with significant growth in transformer exports from China, which increased by 52.73% year-on-year [20] - The only electric grid equipment ETF (159326) has seen a significant inflow of capital, with a recent increase in size exceeding 5.27 billion, reflecting strong investor interest [1][22] Group 3: Technological Innovations - Companies are exploring advanced power supply solutions, such as the 800V direct current architecture proposed by NVIDIA, to enhance efficiency in data centers [18][24] - Solid-state transformers (SST) are being recognized as ideal for high power density applications, potentially reducing peak demand by about 5% [18][19] - Domestic companies are rapidly catching up in the SST supply chain, with firms like Jinpan Technology and Sifang Co. making significant strides in overseas markets [19][20]

作者 | 弗雷迪 数据支持 | 勾股大数 据（www.gogudata.com） AI发展的最大瓶颈，竟然不是算力？ 微软掌门人萨提亚·纳德拉在采访中再爆金句：现在最大的问题不是芯片，而是电力。 这句话一发酵，成了近期A股电网设备上涨的驱动力，今天电网设备成分股早盘一度冲高。 板块题材上，福建、电网设备、银行、冰雪产业、影视院线、造纸板块涨幅居前；有色金属、PEEK材料、减肥药、风电设备、机器人、电池 板块跌幅居前。 | SEVE | | | | 77868 | | | 上海道 | | 2017 11:22 | | 1623 H | 国立营 | | 84 23, 201 | | 日本国际口 | | E | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 国有大盘银行 II | | | | 冰雪电子 | | | 通信服务 | | | 烤化及健康 | 通信设备 | 光伏设备 | 通用设备 | | 化学制品 | | 电网设备 | ...