Tianfeng: CPU-GPU interface technology iteration B300 paves the way for a new blue ocean.

Tianfeng released a research report stating that if Nvidia B300 switches to socket design, socket connector manufacturers are expected to significantly benefit. At the same time, as the world's leading GPU manufacturer, NVIDIA is expected to drive other major manufacturers at home and abroad to switch to socket design, making it a long-term industry trend. It is recommended to pay attention to Suzhou UIGreen Micro&Nano Technologies (688661.SH), Sichuan Huafeng Technology (688629.SH), Shenzhen Deren Electronic (002055.SZ), etc. Tianfeng's main points are as follows: 1. Intel/AMD dominate the ecosystem, with strong competition among socket manufacturers In the field of processor interface technology, the CPUSocket ecosystem has long been dominated by Intel/AMD, forming a centralized competitive landscape with high patent barriers. Currently, global mainstream connector manufacturers show a strong competition pattern: FIT HON TENG, LOTES, and other international giants have achieved large-scale shipments of Intel and AMD products. Among domestic manufacturers, Shenzhen Deren Electronic was the first to achieve mass production breakthrough through Intel certification, and Sichuan Huafeng Technology has completed research breakthroughs in the field of domestic server CPU sockets, promoting independent controllable processes. In terms of supply pattern, leading manufacturers occupy the dominant position with their first-mover advantage. In terms of technological evolution, CPUsocket continues to evolve towards high-density connections. With the advancement of integrated circuit technology, the number of pins on CPUs is showing a rapid growth trend. Especially high pin-count CPUs (such as 10,000 pin CPUs) introduced by companies like Huawei and AMD, pose higher requirements for socket design. How to achieve high-density pin layout in limited space while ensuring the stability of signal transmission becomes an important technical challenge. 2. B300 adopts Socket, ushering in a new blue ocean for socket The upcoming B300 series AIGPU from NVIDIA may adopt a socket architecture for the first time, subverting traditional methods. This design assigns one socket interface to each individual GPU, with expected shipments reaching the millions by 2025-2026. Compared to traditional solutions, GPU socket has significant advantages: firstly, improved maintainability leads to higher yields for ODM manufacturers; secondly, modular design avoids chip-binding sales disputes; thirdly, the socket design can better support power delivery and thermal management, as the socket can be designed for the specific needs of these high-performance components, initially supplied by FIT HON TENG. 3. Expected to rapidly reach millions in the next two years, bullish on socket design becoming an industry trend NVIDIA, as the largest producer of data center GPUs, is expected to sell 6.5 to 7 million GPUs in 2025, mainly from the Hopper and Blackwell series. Considering that the main sales will be from the B300 and subsequent series products, with a 1:1 relationship between Socket and GPU, the expected shipment volume of GPU sockets is estimated to be 6.5-7 million GPUs per year. Based on CPU socket prices, as GPU socket is a new product, it is expected to be priced higher than traditional CPU socket, assuming a price of $30-40 USD, the corresponding market size would be $195-280 million. Risk warning: B300 shipment volume lower than expected, AI investment less than expected, increased competition among socket manufacturers.