1、ASIA-PACIFIC excl.Japan|Electrical*Jefferies Hong Kong LimitedJasonTan*|Equity Analyst+852 3767 1108|JohnsonWan*|Equity Analyst852 3743 8083|AI Infra Series#3 Cooling and PowerEvolution in AIDCWe hosted an expert call with one IDC expert regarding the advancedtechnology evolution of cooling and powe

2、r system in data centers alongwith the rising rack density.On the cooling side,the expert shared thelatest design for NV GB300 rack and key changes from current NVL72design.For the datacenter power system,the expert also shared severalkey technology routes and highlighted the opportunities on the PS

3、U side.We like Megmeet(002851 CH)the most.Cooling technology in AIDC.The expert expects to see an exponential growth of in-rackpower density over the next five years and hit 1MW per rack by 2029.This leaves stricterrequirements on 1)higher coolant flow speed rates,resulting in downtime and reliabili

4、ty risksfor coolant distribution units(CDUs);2)larger rack pressure drop,resulting in higher pressureresistance for quick disconnects(QDs);3)space utilization efficiency since 150-250KWcooling device will occupy 4-6U in-rack space;and 4)finer filtration to reduce clogging andfrequency of maintenance

5、,thus higher capacity filters.Key changes for the next generationof GB300 rack include:Higher power density.The power density per rack will further rally from 120KW currentlyfor Blackwell NVL72 to 600KW per rack for next generation Rubin NVL576.The expertbelieves that in reality the power density pe

6、r rack will be far beyond 600KW and hit over800KW for the next generation.Independent cold plate.Comparing to an integrated cold plate module for GB200 NVL72(2x Blackwell GPU and 1x Grace GPU),the GB300 cold plates are independent ofBlackwell Ultra GPU(x4)and Grace CPU(x2),linked together through ma