SICC (02631) surged more than 6%. As of press time, the stock was up 6.15% to HK$110.5, with a turnover of HK$1.21 billion. The catalyst is NVIDIA's push to upgrade data center power architectures to 800V high-voltage DC, significantly boosting the value and adoption rate of silicon carbide (SiC). Additionally, a Citrini report explicitly identifies silicon carbide as the most undervalued core theme in the AI sector. According to calculations by Citrini Research cited by Kaiyuan Securities, in the BOM cost for power conversion per 1MW AI cabinet, wide-bandgap devices like SiC and GaN account for 64% of the incremental cost. It is estimated that the SiC market will grow from $3.5 billion in 2024 to $12.4 billion by 2030, with AI infrastructure contributing nearly half of the demand. Guotou Securities noted that with the continued expansion of the global new energy industry, market demand for silicon carbide materials is experiencing explosive growth. Silicon carbide materials are also an inevitable choice for the growth and innovation of the AI industry, holding significant potential in data centers, power infrastructure, and end applications. Kaiyuan Securities pointed out that in 2025, SICC and Wolfspeed are expected to hold 27.6% and 24.9% market share, respectively, in the silicon carbide substrate market, indicating ongoing industry consolidation.