AIDC最新观点：AI产业趋势下，我们看好哪些环节？

Summary of Key Points from Conference Call Records Industry Overview - The focus is on the AI Data Center (AIDC) industry, particularly the trends and developments in power supply systems and related technologies [1][3][4]. Core Insights and Arguments - NVIDIA Supply Chain: The continuous rise in NVIDIA's supply chain is noted, with domestic power supply products like optical modules, PCBs, and copper foils performing strongly. Companies like Defu and Zhongyi Copper Foil are benefiting from industry inflation [1][3]. - Power Density Increase: The power density in data centers is expected to increase significantly, with projections indicating that the number of GPUs per rack will rise from 36 to 576 between 2024 and 2029, reaching peak power levels of 1,000 kW [1][4]. - Transition to HVDC: The transition from UPS to High Voltage Direct Current (HVDC) systems is highlighted, with domestic companies like Tencent and Alibaba moving towards HVDC technology. This shift is expected to enhance efficiency and reliability in power supply systems [1][6][7]. - Emerging Companies: Companies such as Megmeet and Oulu Tong are expected to enter the NVIDIA supply chain, while Jianghai Co. is noted for its potential in the supercapacitor field [1][5]. - Market Expansion: Sunshine Power's entry into the AIDC market is anticipated to expand market space and lead to a reevaluation of supply chains, indicating optimism for the AIDC sector and advanced power supply technologies [1][9]. Additional Important Content - Technological Changes: Significant technological advancements are occurring in three main areas: external power supply systems transitioning to HVDC, internal server power supply moving to DCDC conversion, and onboard power supply reducing voltage levels for electronic circuits [7][8]. - IDC Service Trends: The overall service rate for IDC is steadily increasing, with new high-power cabinets expected to launch in 2025. Companies like Kehua Data and Zhongheng Electric are actively pursuing tenders from major players like ByteDance and Alibaba [2][16]. - Market Dynamics: The global harmonic governance market is valued at over 5 billion RMB, with significant growth potential in the overseas market, which is four times larger than the domestic market [23]. - Diesel Generator Demand: Diesel generators are becoming standard in new data center constructions due to increased power supply quality requirements, with specifications for performance and capacity rising significantly [24][25]. Conclusion - The AIDC industry is experiencing rapid growth driven by technological advancements and increasing demand for efficient power supply systems. Companies that adapt to these changes and enter emerging markets are likely to see significant opportunities for growth and investment.