Investment Rating - The report provides a "Buy" rating for the industry, indicating an expectation of stock performance exceeding the market by more than 10% over the next 12 months [37]. Core Insights - The report emphasizes the significant advancements in AI technology, particularly through the introduction of the NVIDIA Vera Rubin POD platform, which is designed to enhance performance for Agentic AI workloads [4][12]. - It highlights the collaboration within the AI industry chain, suggesting that model innovation and capital expenditure (CAPEX) are foundational for growth, with a continuous upward trend in AI-driven storage cycles [31]. - The report suggests focusing on key beneficiaries within the industry chain, as the demand for AI inference drives both production expansion and upgrades [31]. Summary by Sections Section 1: NVIDIA Vera Rubin POD Platform - NVIDIA introduced the Vera Rubin POD platform, which includes five rack-level systems tailored for Agentic AI workloads, enhancing throughput and reducing latency [4][12]. - The platform consists of various racks, including the MGX NVL rack for GPU computing and the MGX ETL rack for CPU and storage, showcasing a heterogeneous collaborative system architecture [4][12]. Section 2: Groq3 LPX Rack for Decoding Acceleration - The Groq3 LPX rack is designed to accelerate decoding processes, integrating 256 LPU processors with high bandwidth capabilities, significantly improving performance metrics [4][17]. Section 3: Vera CPU Rack for RL/Agent Sandbox Support - The Vera CPU rack supports over 22,500 concurrent reinforcement learning (RL) or agent sandbox environments, facilitating testing and validation of outputs from the Vera Rubin NVL72 and LPX systems [4][28]. Section 4: Investment Recommendations - The report recommends attention to core beneficiaries in the AI industry chain, driven by model innovation and collaborative development, with a focus on the upward trend in AI inference and storage cycles [31].

[Table_Page] 行业专题研究|电子 2026 年 3 月 18 日 证券研究报告 [Table_Title] AI 的进击时刻 25 | | | | [Tabl 分析师： | 王亮 | 分析师： | 耿正 | 分析师： | 焦鼎 | | --- | --- | --- | --- | --- | --- | | e_Author] | SAC 执证号：S0260519060001 | | SAC 执证号：S0260520090002 | | SAC 执证号：S0260522120003 | | | SFC CE.no: BFS478 | | | | | | | 021-38003658 | | 021-38003660 | | 021-38003658 | | | gfwangliang@gf.com.cn | | gengzheng@gf.com.cn | | jiaoding@gf.com.cn | | 分析师： | 张大伟 | | | | | | | SAC 执证号：S0260523050001 | | | | | | | 021-38003657 | | | | | | | zhangdaw ...