J.P. Morgan Asia Technology Tracker 10 Jun 26 China Home Appliance; Delta Electronics, Inc. and More

研报英文原文证据摘录

J.P. Morgan Asia Technology Tracker 10 Jun 26 China Home Appliance; Delta Electronics, Inc. and More

Asia Pacific Equity Research AC Asia Pacific Equity Research

10 June 2026 J P M O R G A N

aprr.publications@jpmorgan.com

Europe Reports/Notes

Tech Snippets

Nvidia building chips tailored for radio units in mobile networks is not a negative for the equipment

suppliers (Sandeep Deshpande)

The News: Nvidia is reportedly extending its AI-RAN strategy beyond central unit/distributed unit (CU/DU)

compute to the radio unit (RU), developing a GPU-based chip for the 6G to replace the custom ASICs that

handle low-PHY functions like beamforming in Massive MIMO radios. The article argues that the technical

driver is Massive MIMO: as radios scale from basic 4T/4R toward 128T/128R (implying ~32x more low-PHY

compute) and potentially “ultra-MIMO” concepts up to 1,024T/1,024R, more PHY processing shifts to the

RU to preserve performance (e.g., beamforming). Nvidia believes this creates an opening to replace RU

ASICs with a GPU-based approach as it makes programmable silicon increasingly attractive versus fixed-

function ASICs that lack scale economics in a non-growth equipment market. Key risks discussed remain

power consumption (RUs drive ~90% of network energy use) and performance gap versus purpose-built

ASICs. Nvidia could likely counter the power dissipation issue with an automotive-like sub-100W embedded

GPU design. The piece also highlights Nvidia’s recent investments in Marvell ($2bn) and Nokia ($1bn) and

notes Marvell’s intent to enhance its Octeon base-station processors to work directly with Nvidia GPUs,

aiming to run radio workloads and AI applications on the same platform.

Key Rating, Price Target & Estimate Changes for Asia tech

companies

None