特別提(ti)示(shi):下文涉及的題材或(huo)公司,內(nei)容(rong)羅列和(he)篇幅長短,與后續漲跌(die)無關,亦均非進行推薦,僅作研究輔(fu)助(zhu)。投資者應自主決(jue)策,注意風(feng)險。 一(yi)、市(shi)場熱點 電(dian)(dian)(dian)源(yuan)(yuan):AI算力建設重要基礎(chu)設施 ◇驅(qu)動:據(ju)網絡調(diao)研,GB300將(jiang)于(yu)2025年(nian)Q4開(kai)啟小批量供(gong)應,電(dian)(dian)(dian)源(yuan)(yuan)模塊相較(jiao)GB200增(zeng)加(jia)3至4個,單機(ji)(ji)柜功(gong)(gong)率(lv)較(jiao)大提(ti)升(sheng),帶動電(dian)(dian)(dian)源(yuan)(yuan)需(xu)求(qiu)。 ◇HVDC(高(gao)壓(ya)直流):機(ji)(ji)構表示(shi)供(gong)電(dian)(dian)(dian)系統相當于(yu)數據(ju)中心(xin)(xin)"心(xin)(xin)臟",隨著(zhu)單機(ji)(ji)柜功(gong)(gong)率(lv)突破MW級,預計HVDC滲透率(lv)將(jiang)快速提(ti)升(sheng)。 ◇服(fu)務器電(dian)(dian)(dian)源(yuan)(yuan):機(ji)(ji)構表示(shi)AI算力需(xu)求(qiu)、AI芯片(pian)功(gong)(gong)率(lv)持續攀升(sheng),驅(qu)動電(dian)(dian)(dian)源(yuan)(yuan)功(gong)(gong)