“流言四起”！主板过热和高电压，英伟达GB200量产延迟？

华尔街见闻07-17

摩根大通认为，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，2025年一季度Blackwell 系列GPU将占上游GPU生产的半数以上。近期投资者担忧由于散热问题和高电压，英伟达GB200 Bianca量产可能有所延迟。摩根大通在周二的最新报告中指出，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，GB200系列芯片量产...

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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202407171044559f5a750e&s=b><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>摩根大通认为，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，2025年一季度Blackwell 系列GPU将占上游GPU生产的半数以上。近期投资者担忧由于散热问题和高电压，英伟达GB200 Bianca量产可能有所延迟。摩根大通在周二的最新报告中指出，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，GB200系列芯片量产...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202407171044559f5a750e&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BK4W5M84.HKD","symbol_name":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) 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Motherboard overheating and high voltage, Nvidia GB200 mass production delay?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1,"JPM":0.9,"LU":0.6},"content_text":"摩根大通认为，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，2025年一季度Blackwell 系列GPU将占上游GPU生产的半数以上。近期投资者担忧由于散热问题和高电压，英伟达GB200 Bianca量产可能有所延迟。摩根大通在周二的最新报告中指出，散热和高电压等问题在新产品引入过程中较为常见，预计不会对大规模生产计划造成实质性影响，GB200系列芯片量产有序推进。具体来看，摩根大通预计：在2024年下半年，台积电的CoWoS-L产能为4.5万到5万片，意味着Blackwell GPU的量产规模为60万到70万。近期上游供应商的产量没有变化，预计2025年一季度Blackwell 系列GPU将占据上游GPU生产的半数以上。从下游供应商的角度来看，Blackwell GPU在2024年和2025年的混合比例分别为15%和80-85%。散热和高电压风险并不新鲜，摩根大通表示：GB200主板由于GPU的高TDP功耗（Bianca/Ariel为2700W/1500W，H100为700W）存在过热和高电压问题，但这些担忧在新产品引入过程中很常见。大多数供应链供应商仍计划在9月中旬开始GB200 Bianca主板的大规模生产，尽管未来两个月可能会有增量瓶颈，但预计不会对Bianca板的生产计划产生重大推迟。GB200 Ariel模组不太可能取代Bianca模组（Ariel模组是一块Grace + 一块Blackwell，面向Meta和企业，Bianca模组一块Grace+两块Blackwell）。摩根大通表示：预计今年将生产10万到12万块Bianca模组，而机架级系统的产量应仅为几千块。预计Ariel板将在2024年第四季度生产，Bianca板将在GB200系列中占据70%以上的比例。即使Bianca板的生产推迟，预计超大规模计算客户也不会从Bianca转向Ariel。整体来看，摩根大通对明年GB200系列产品比例上升的积极预测保持不变，基于市场对GB200 Ariel的乐观情绪，纬创周二大涨上涨了7%。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2452977948"}