建滔积层板(01888)今日盘中大涨5.27%，引起了市场的广泛关注。
消息面上，自英伟达Rubin架构发布以来，MLCC(多层陶瓷电容器)赛道迅速成为资本市场焦点。MLCC是PCB上用量最大的被动元件，与PCB在产品功能上维持共生关系。华泰证券指出，Rubin架构驱动单机柜MLCC价值量从H100时代的3000美元跃升至2.2万美元，2027年有望达4万美元，量价齐升逻辑清晰。供给侧，高端MLCC扩产挤压通用品产能，涨价信号已相继落地，逻辑与HBM挤占DRAM高度一致。
高盛认为，在当前的AI服务器物料清单成本构成中，MLCC已上升为第三大成本项，仅次于GPU和存储芯片。针对AI服务器中紧邻GPU/ASIC的“低压高容量”MLCC，技术迭代正朝着在极端受限的PCB板空间内实现极致微型化与超高容值的双重维度演进，准入门槛大幅抬升。这些因素共同推动了建滔积层板作为PCB制造商的股价上涨。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.