GB200 and GB300 NVL72 Racks in June 2026

研报英文原文证据摘录

GB200 and GB300 NVL72 Racks in June 2026

Update

July 8, 2026 01:07 PM GMT

Morgan Stanley Taiwan Limited+MGreater China Technology Hardware | Asia Pacific Howard Kao

Equity Analyst

GB200 and GB300 NVL72 Howard.Kao@morganstanley.comIrene Yen +886 2 2730-2989

Research Associate

Irene.Yen@morganstanley.com +886 2 2730-2869

Racks in June 2026 Morgan Stanley Asia Limited+

Andy Meng, CFA

We provide monthly/quarterly rack shipment forecasts for Equity Analyst

Andy.Meng@morganstanley.com +852 2239-7689

ODMs. Within the major Server ODMs, our order of preference

is Wistron > Hon Hai > Quanta, based on upside to PT.

Key Takeaways

We estimate GB200/300 rack output in June at ~8.0K (+5% m/m), within which:

Greater China Technology Hardware

Quanta shipped 2.3-2.4K GB200/GB300 racks. Asia Pacific

Industry View In-Line

Wistron shipped 1.2-1.3K GB200/GB300 racks.

Hon Hai shipped ~3.3K GB200/300 racks.

We continue to forecast 70-80K racks in CY26: This year should remain a strong

one for downstream rack assembly. We expect over 100% y/y growth in rack

shipments, vs. ~29k last year.

Quanta (2382.TW, OW): June revenue was NT$385.2B (+24% m/m, +103% y/y). We

attribute the m/m growth primarily to higher GB200/300 rack shipments in the

month, while NB shipments were also higher m/m at 4.5M units. But for

GB200/300 rack shipments in the month, we estimate Quanta shipped 2.3-2.4K,

higher than the 1.8-1.9K racks shipped in May. This brings overall 2Q GB200/300

rack shipments to approximately 6.2-6.3K (+32% q/q), slightly below our prior

forecast of ~6.7K units, with the lowered rack shipments likely just pushed out into

2H. Our full-year assumption is unchanged at ~18.7K racks.

Wistron (3231.TW, OW): June revenue was NT$321.8B (+11% m/m, +54% y/y). We