2025-09-28 14:57Summary of Key Points from the Conference Call Industry Overview - The focus is on the HVDC (High-Voltage Direct Current) power supply sector, particularly in relation to the AI technology industry and its evolving power requirements as AI server performance increases. [1][10] Core Insights and Arguments - Transition to HVDC: The current power supply solutions (33kW and 72kW power shelves) are nearing their limits due to rising power consumption and performance demands from AI chips. The shift to HVDC (800V) is expected to occur between late 2026 and 2027. [1][10] - AI Rack Power Requirements: AI racks requiring 400kW or more will need standalone power racks, while those needing 750kW to 1MW will necessitate HVDC power racks to enhance energy efficiency. [1][10] - nVidia's Upgrades: nVidia is planning significant upgrades to its GPU products, which will increase power requirements for their racks, necessitating the transition to HVDC solutions. The VR200 rack is projected to require 350-400kW with the new upgrades. [2][11] - Content Value Increase: The content value for power supply makers is expected to triple as the industry transitions from individual PSUs to HVDC power racks, with the content value per watt increasing from USD0.1/watt to USD0.3+/watt. [3] - Entry Barriers: The transition to HVDC presents higher entry barriers for manufacturers due to the need for advanced design and manufacturing capabilities. [3] Key Players and Market Dynamics - Leading Companies: Delta and Vertiv are currently leading the development of HVDC technology, with Lite-On Tech and Flex Power also positioned to follow. [3] - Market Forecast for Delta: Delta is expected to benefit significantly from the HVDC adoption trend, with projected sales growth from TWD121 billion in 2025 to TWD229 billion in 2027. [6] - Bizlink's Position: Bizlink is anticipated to secure its position as a key supplier of power cables for major cloud service providers, driven by increased power consumption per AI server rack. [7] Technical Developments - Power Supply Upgrades: The transition to HVDC will require upgrades across various components, including PDUs, PSUs, BBUs, and busbars. [4][8] - Silicon Carbide and Gallium Nitride: The use of SiC and GaN components is expected to increase in power supply units to meet HVDC requirements, enhancing efficiency and performance. [8][56][58] - Energy Storage Systems: ESS will play a crucial role in managing power supply and demand, particularly in supporting AI workloads during peak times. [53] Efficiency and Sustainability - Efficiency Gains: HVDC systems are projected to improve rack-level efficiency by 1.0-1.5% and system-level efficiency by approximately 5%, contributing to lower total cost of ownership (TCO) and reduced material consumption. [31] - Environmental Impact: The adoption of wide band-gap semiconductors like GaN and SiC is expected to significantly reduce CO₂ emissions in data centers, aligning with sustainability goals. [58] Conclusion - The shift towards HVDC is essential for supporting the next generation of AI infrastructure, with significant implications for power supply architecture, efficiency, and sustainability in data centers. The expected transition will create substantial opportunities for key players in the power supply market. [59]