Huafu Securities pointed out that compared with traditional servers, AI servers adopt a heterogeneous chip architecture of CPU+GPU, and the GPU board group is a new structure. Loss characteristics have put forward higher requirements

At the same time, the server platform is upgraded, and the transmission rate is doubled. It is required that the PCB board adopts VeryLowLoss or UltraLowLoss grade CCL material, and the number of motherboard layers also increases accordingly. The development of high-end servers has become the driving force for the upgrading of high-end PCB production technology, and the trend of rising PCB volume and price is clear. As the "mother of electronic products", PCB is expected to take the lead in achieving substantial business breakthroughs under the general trend of AI and server product iterations and demand upgrades.

In the direction of PCB, it is recommended to pay attention to companies that actively participate in AI and server-related tracks; in the direction of semiconductors, it is recommended to focus on upstream equipment and materials; in the direction of consumer electronics, it is recommended to focus on smart terminal innovations such as AR and VR, and the layout of high-boom tracks such as photovoltaic new energy company.