We Release Industry Update: 800V Will Be Key Catalyst for Power Supply Architecture Iteration, Benefiting Directions Include In-cabinet, Out-of-cabinet, Board-level Power etc. [CITIC Construction Investment Electric New]

English summary

This report is companion to "AIDC Power Revolution", targeting 800V and next-generation Rubin chip trends: (1) HVDC Power rack is currently main implementation of overseas 800V, value increase mainly in power host; (2) Rubin architecture brings in-cabinet PSU power density increase, after future 800V will add 800V DCDC step-down link; (3) Board-level power value increases, concentrated in IBC, VRM links, future also GaN, TLVR technological upgrades. Recommend focusing on value-concentrated links at each level: Megmeet, Oulutong, Sungrow, Sifang Co., Jinpan Technology, Hengdian Dongci, Chipown, etc. For details refer to report: CITIC Construction Investment: 800VDC will become key catalyst for power supply architecture iteration, benefiting directions include in-cabinet, out-of-cabinet, board-level power etc.