通信行业液冷转折点:三大预期差 产业落地刚起步

国盛证券有限责...
Jul 08, 2025

事件:7 月3 日,戴尔向CoreWeave 交付首批Nvidia GB300 NVL72 机架规模解决方案,标志着英伟达最新高端GPU 开始正式商用落地。从时间线看预期差:过去两年的热度是预期,真正的落地从现在开始。自2023 年AI 热潮兴起以来,市场对液冷从“0 到1”爆发的预期持续高涨,英伟达液冷合作伙伴Vertiv 股价自2023 年以来涨逾800%,反映出液冷将从“可选”迈入“必选”的...

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