Weekly gathering of scientific and technological views (Part 2)
1) NVIDIA gtc2022 was held, with frequent highlights from AI infrastructure to meta universe applications. At the GTC spring press conference, NVIDIA demonstrated all-round industry-leading solutions in hardware, system software, platform and application framework. We believe that one of the core ideas presented at this GTC conference is that AI’s demand for computing power and high-speed network is still growing rapidly, which will promote the iteration and growth of AI infrastructure; The second core view is that AI’s needs for virtual digital human, video conference, commercial retail, automatic driving, Siasun Robot&Automation Co.Ltd(300024) , medical diagnosis and digital twin have been verified and commercial value has been realized; The third core point is that AI today focuses on perception and pattern recognition, and the next wave of AI is Siasun Robot&Automation Co.Ltd(300024) .
2) NVIDIA releases the strongest new AI infrastructure, and nvlink opens the full interconnection capability from system level to bare core. NVIDIA released the first hopper architecture gpuh100 and dgxsuperpod cluster new products for AI acceleration and HPC scenarios, with excellent performance in global commercial supercomputing products. The bandwidth of dgxh100io is as high as 3.2tbps. The NVIDIA high performance network card connectx-7 and quantum-2 Infiniband switch can form 18 dgxpods into the strongest supercomputing EOS in the industry. In terms of CPU, NVIDIA released gracehopper, which realizes module level interconnection between CPU, GPU and two CPUs via nvlink. Nvlinkc2c sinks nvlink to bare die level high-speed interconnection. Chiplet will become the main means to improve chip computing power and implement heterogeneous integration in the post Moore era. Its core capabilities include high-speed interconnection interface IP, advanced packaging, wafer level packaging and silicon optical interconnection.
3) Omniverse helps the implementation of meta cosmic infrastructure, and the ecology is beginning to take shape. NVIDIA believes that the significance of Omniverse lies in creating a new way of 3D content collaboration, digital twins of real scenes and creating a simulated training environment for Siasun Robot&Automation Co.Ltd(300024) to reduce the cost of trial and error. At present, the penetration rate of Omniverse among global 3D design and DCC users is expected to reach 1%. We expect Omniverse users to exceed 3 million in five years, bringing more than $5 billion in subscription revenue every year. NVIDIA also released the first meta universe server OVX on the GTC. We believe that manufacturers such as Inspur and Lenovo will benefit from the needs of the first batch of Omniverse users to accelerate the growth of GPU server shipments. In addition, NVIDIA also released the launchpad bare metal rental and Omniverse cloud service version, which will greatly expand the user base.
Investment advice
Recently, the market has adjusted frequently and investors’ risk appetite is low. We suggest investors to increase the allocation proportion of absolute return style, trade time for space and wait for the opportunity of market rebound. The China Telecom Corporation Limited(601728) business data in the first two months increased steadily, and the capital expenditure of operators is expected to continue to maintain a moderate growth. The customs data shows that the export orders of optical modules continue to be strong. In April, we suggest to pay attention to the first quarter report, which is expected to exceed the expected stocks, and continue to pay attention to the three main lines of operators, exports and 0-1 emerging track. The release of NVIDIA h100gpu, supercomputing and Omniverse new products opens the curtain of meta universe infrastructure. We believe that AI’s demand for computing power and high-speed network is still growing rapidly, which will promote the iteration and growth of AI infrastructure. AI’s needs in the fields of virtual digital human, video conference, commercial retail, automatic driving, Siasun Robot&Automation Co.Ltd(300024) , medical diagnosis and digital twin have been verified and commercial value has been realized. We recommend focusing on the following investment opportunities.
1) NVIDIA has launched the ovxlaunchpad plan, and mainstream server manufacturers may launch new OVX products one after another. China’s GPU accelerated server market benefits from the construction of “computing network” and has high growth momentum. It is suggested to pay attention to Inspur Electronic Information Industry Co.Ltd(000977) , Lenovo Group (Hong Kong shares), Unisplendour Corporation Limited(000938) .
2) Omniverse connection software has covered foreign mainstream 3d and design software manufacturers. China has huge domestic substitution space in the fields of industrial software, design Bim and multimedia creation tools. It is suggested to pay attention to Glodon Company Limited(002410) , Zwsoft Co.Ltd(Guangzhou)(688083) , Beijing Yjk Building Software Co.Ltd(300935) , etc.
It is recommended that large-scale computing manufacturers focus on the performance of 35.
Risk tips
The capital expenditure of cloud and Internet manufacturers is lower than expected, the enterprise IT capital expenditure is lower than expected, the implementation of Omniverse promotion is lower than expected, and the market fluctuates sharply due to external factors.
