广发证券(香港):台北电脑展新品蓄势待发 AI驱动服务器CPU市场高增

金吾财讯
May 22

金吾财讯 | 广发证券(香港)发布行业前瞻报告,预判COMPUTEX 2026将迎来芯片巨头产品迭代亮相。英伟达将重点展示AI专属Vera CPU,英特尔则计划推出18A工艺入门级Wildcat Lake处理器,两大厂商将分别发力AI算力与消费级终端赛道。

机构认为,AI产业扩容带动整体芯片市场规模增长,Arm架构渗透提升不会挤压x86阵营空间,英特尔、AMD、Arm均能充分受益AI算力需求红利。供应链层面,ABF基板仍是行业核心产能瓶颈,金硕将深度受益英伟达Vera CPU基板供应,IBIDEN、欣兴电子则有望随英特尔新品上量收获订单增长。

性能与出货预期方面,英伟达Vera CPU推理性能、机架密度较传统x86产品优势显著。机构保守预测,其2027、2028财年出货量分别达120万颗、420万颗。AI智能体应用迭代持续优化GPU与CPU配比,进一步打开Vera CPU在数据中心的渗透空间。

英特尔新品节奏稳步推进,入门级Wildcat Lake芯片已启动国内OEM出货,下半年还将推出多核Nova Lake处理器。产能端18A工艺良率稳步爬坡,为产品落地提供支撑。行业数据显示,AI智能体需求爆发将带动服务器CPU市场高速扩容,预计2030年全球市场规模将达2110亿美元,2026至2028年全球服务器CPU总需求将逐年攀升。

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