成本惊人！英伟达“烧钱”散热，单套液冷组件将飙至近40万元（附股）

数据宝11-07

国际投行预测，英伟达下一代AI服务器液冷组件总价值将近40万元。　　据科技媒体报道，摩根士丹利最新发布的报告显示，英伟达GB300 NVL72机架级AI系统，单单是液冷散热组件的价值就高达49860美元（约合人民币近36万元），这已经比GB200 NVL72系统高了大约20%。　　报告还显示，下一代Vera Rubin NVL144平台的散热总价将更高，随着计算托架和交换机托架的冷却需求进一步...

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龙腾虎乐
11-07
龙腾虎乐
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Rubin（VR200）平台，其GPU最大TDP将飙升至2300W，而2027年的VR300（Kyber架构）更是高达3600W，散热能力成为制约算力释放的核心瓶颈。\n　　液冷已从数据中心散热备选方案变为必需品。英伟达的液冷技术路线呈现清晰的渐进式升级特征。早期GB200采用单板单向冷板+风冷组合方案，冷板覆盖CPU、GPU等高温区，风冷负责电源等低温部件。\n　　新一代GB300全面升级为全冷板液冷方案，可稳定应对1400瓦散热需求。面向未来Rubin芯片的超高功耗场景，英伟达已布局两相冷板液冷与静默式（浸没式）液冷耦合方案。\n　　液冷产业已进入爆发式增长阶段。根据国际数据公司（IDC）预测，预计2025年中国液冷服务器市场规模达33.9亿美元，同比增长42.6%。从长期来看，2025~2029年复合增长率将保持48%的超高增速，2028年市场规模有望突破162亿美元。其中，英伟达相关芯片配套的液冷需求占据核心份额，成为市场增长的主要引擎。\n　　机构密集调研的概念股出炉\n　　液冷概念今年以来被热炒，据证券时报·数据宝统计，包括思泉新材、英维克、科创新源、同飞股份等多只个股年内股价翻番。\n　　从业绩看，多只液冷概念股今年前三季度表现较好，依米康、同飞股份、科创新源、飞荣达等归母净利润同比翻倍，高澜股份、曙光数创、思泉新材、依米康、同飞股份等营收同比增幅超50%。\n　　今年以来，多只液冷概念股获机构集中调研，其中冰轮环境、银轮股份、飞龙股份、中石科技、思泉新材、同飞股份获调研机构在100家及以上。\n　　冰轮环境在最新的调研纪要中表示，公司旗下顿汉布什公司和冰轮换热技术公司为数据中心乃至液冷系统提供一次侧冷源装备和热交换装置等冷却装备。\n　　银轮股份在调研中表示，公司明确数据中心液冷1+2+N发展战略规划，从远期来展望数据中心热管理会超过数字与能源事业部整体规模的50%。\n　　飞龙股份表示，公司液冷领域产能可以支持液冷业务的快速增长，目前子公司安徽航逸科技有限公司已拥有4条液冷领域生产线。\n　　中石科技表示，公司全新VC吸液芯散热技术已应用于国内大客户新一代AI PC中。\n　　同飞股份表示，在数据中心领域，公司推出了冷板式液冷和浸没液冷全套解决方案。\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：王珂","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":497465346105344,"gmtCreate":1762474353666,"gmtModify":1762474355858,"author":{"id":"3482550532367433","authorId":"3482550532367433","name":"龙腾虎乐","avatar":"https://static.laohu8.com/1530cc5cd548815469551d0b8c1c8ee8","vip":1,"hat":"https://static.tigerbbs.com/622fc56f7e67b5729addb4e78a195511","crmLevel":5,"crmLevelSwitch":1,"idStr":"3482550532367433","authorIdStr":"3482550532367433"},"htmlText":"不务正业了[捂脸]&nbsp; [捂脸]&nbsp;&nbsp;","listText":"不务正业了[捂脸]&nbsp; [捂脸]&nbsp;&nbsp;","text":"不务正业了[捂脸] [捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/497465346105344","repostId":2581042985,"repostType":2,"repost":{"id":"2581042985","kind":"news","pubTimestamp":1762472340,"share":"https://www.laohu8.com/m/news/2581042985?lang=&edition=full","pubTime":"2025-11-07 07:39","market":"sh","language":"zh","title":"成本惊人！英伟达“烧钱”散热，单套液冷组件将飙至近40万元（附股）","url":"https://stock-news.laohu8.com/highlight/detail?id=2581042985","media":"数据宝","summary":"国际投行预测，英伟达下一代AI服务器液冷组件总价值将近40万元。　　据科技媒体报道，摩根士丹利最新发布的报告显示，英伟达GB300 NVL72机架级AI系统，单单是液冷散热组件的价值就高达49860美元 ，这已经比GB200 NVL72系统高了大约20%。","content":"<html><body><div>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">国际投行预测，<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>下一代</font><font cms-style=\"font-L\">AI服务器液冷组件总价值将近40万元。</font></p>\n<p cms-style=\"font-L\">　　据科技媒体报道，<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>最新发布的报告显示，<font cms-style=\"font-L strong-Bold\">英伟达GB300 NVL72机架级AI系统，单单是液冷散热组件的价值就高达49860美元（约合人民币近36万元）</font>，这已经比GB200 NVL72系统高了大约20%。</p>\n<p cms-style=\"font-L\">　　报告还显示，下一代Vera Rubin NVL144平台的散热总价将更高，随着计算托架和交换机托架的冷却需求进一步增加，<font cms-style=\"font-L strong-Bold\">预计每个机柜的冷却组件总价值将增长17%，达到约55710美元（约合人民币近40万元）</font>，其中为交换机托架设计的冷却模块预计价值将显著增长67%。</p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/250/w489h561/20251107/396f-cb4cd53cfaa553dc6968f49fd867bb0b.png\"/><span></span></div>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/194/w475h519/20251107/20c0-53db3bb6342cca0a502cc575b8a4881d.png\"/><span></span></div>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L\">随着数据中心CPU和GPU性能的不断提升，其功耗也随之激增，散热</font><font cms-style=\"font-L\">成本上涨的趋势非常明显。</font><font cms-style=\"font-L\">从GB200 NVL72到GB300 NVL72（散热成本增加20%），再到Vera Rubin NVL144（散热成本增加17%），在散热需求激增下，液冷产业出现爆发式增长。</font></p>\n<p cms-style=\"font-L align-Center\">　　<font cms-style=\"font-L strong-Bold align-Center\">算力爆发下的散热刚需</font></p>\n<p cms-style=\"font-L\">　　在全球AI算力需求持续爆发的背景下，数据中心计算密度呈指数级提升，传统风冷技术已难以满足高密度算力设备的散热需求。</p>\n<p cms-style=\"font-L\">　　英伟达作为全球AI芯片龙头，其芯片功率不断突破上限，从H100的700W TDP（TDP：散热设计功耗），到B200的1000W，再到GB200的1200W，直至2026年下半年登场的Vera Rubin（VR200）平台，其GPU最大TDP将飙升至2300W，而2027年的VR300（Kyber架构）更是高达3600W，散热能力成为制约算力释放的核心瓶颈。</p>\n<p cms-style=\"font-L\">　　液冷已从数据中心散热备选方案变为必需品。英伟达的液冷技术路线呈现清晰的渐进式升级特征。早期GB200采用单板单向冷板+风冷组合方案，冷板覆盖CPU、GPU等高温区，风冷负责电源等低温部件。</p>\n<p cms-style=\"font-L\">　　新一代GB300全面升级为全冷板液冷方案，可稳定应对1400瓦散热需求。面向未来Rubin芯片的超高功耗场景，英伟达已布局两相冷板液冷与静默式（浸没式）液冷耦合方案。</p>\n<p cms-style=\"font-L\">　　液冷产业已进入爆发式增长阶段。根据国际数据公司（IDC）预测，预计2025年中国液冷服务器市场规模达33.9亿美元，同比增长42.6%。<font cms-style=\"font-L strong-Bold\">从长期来看，2025~2029年复合增长率将保持48%的超高增速，2028年市场规模有望突破162亿美元。</font>其中，英伟达相关芯片配套的液冷需求占据核心份额，成为市场增长的主要引擎。</p>\n<p cms-style=\"font-L align-Center\">　　<font cms-style=\"font-L strong-Bold align-Center\">机构密集调研的概念股出炉</font></p>\n<p cms-style=\"font-L\">　　液冷概念今年以来被热炒，据证券时报·数据宝统计，包括<font cms-style=\"font-L strong-Bold\"><span><a href=\"https://laohu8.com/S/301489\">思泉新材</a></span><span></span>、<span><a href=\"https://laohu8.com/S/002837\">英维克</a></span><span></span>、<span><a href=\"https://laohu8.com/S/300731\">科创新源</a></span><span></span>、<span><a href=\"https://laohu8.com/S/300990\">同飞股份</a></span><span></span></font>等多只个股年内股价翻番。</p>\n<p cms-style=\"font-L\">　　从业绩看，多只液冷概念股今年前三季度表现较好，<font cms-style=\"font-L strong-Bold\"><span><a href=\"https://laohu8.com/S/300249\">依米康</a></span><span></span>、同飞股份、科创新源、<span><a href=\"https://laohu8.com/S/300602\">飞荣达</a></span><span></span></font>等归母净利润同比翻倍，<span><a href=\"https://laohu8.com/S/300499\">高澜股份</a></span><span></span>、<span><a href=\"https://laohu8.com/S/600303\">曙光</a>数创</span><span></span>、思泉新材、依米康、同飞股份等营收同比增幅超50%。</p>\n<p cms-style=\"font-L\">　　今年以来，多只液冷概念股获机构集中调研，其中<font cms-style=\"font-L strong-Bold\"><span><a href=\"https://laohu8.com/S/000811\">冰轮环境</a></span><span></span>、<span><a href=\"https://laohu8.com/S/002126\">银轮股份</a></span><span></span>、<span><a href=\"https://laohu8.com/S/002536\">飞龙股份</a></span><span></span>、<span><a href=\"https://laohu8.com/S/300684\">中石科技</a></span><span></span>、思泉新材、同飞股份</font>获调研机构在100家及以上。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold\">冰轮环境</font>在最新的调研纪要中表示，公司旗下顿汉布什公司和冰轮换热技术公司为数据中心乃至液冷系统提供一次侧冷源装备和热交换装置等冷却装备。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold\">银轮股份</font>在调研中表示，公司明确数据中心液冷1+2+N发展战略规划，从远期来展望数据中心热管理会超过数字与能源事业部整体规模的50%。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold\">飞龙股份</font>表示，公司液冷领域产能可以支持液冷业务的快速增长，目前子公司安徽航逸科技有限公司已拥有4条液冷领域生产线。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold\">中石科技</font>表示，公司全新VC吸液芯散热技术已应用于国内大客户新一代AI PC中。</p>\n<p cms-style=\"font-L\">　　<font cms-style=\"font-L strong-Bold\">同飞股份</font>表示，在数据中心领域，公司推出了冷板式液冷和浸没液冷全套解决方案。</p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/100/w437h463/20251107/107c-1512cff1e2c6d57538e0a50b10d8c679.png\"/><span></span></div>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n<p>责任编辑：王珂 </p>\n</div></body></html>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>成本惊人！英伟达“烧钱”散热，单套液冷组件将飙至近40万元（附股）</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n成本惊人！英伟达“烧钱”散热，单套液冷组件将飙至近40万元（附股）\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-07 07:39 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/roll/2025-11-07/doc-infwppuf1269747.shtml><strong>数据宝</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>国际投行预测，英伟达下一代AI服务器液冷组件总价值将近40万元。\n　　据科技媒体报道，摩根士丹利最新发布的报告显示，英伟达GB300 NVL72机架级AI系统，单单是液冷散热组件的价值就高达49860美元（约合人民币近36万元），这已经比GB200 NVL72系统高了大约20%。\n　　报告还显示，下一代Vera Rubin NVL144平台的散热总价将更高，随着计算托架和交换机托架的冷却需求进一步...</p>\n\n<a href=\"https://finance.sina.com.cn/roll/2025-11-07/doc-infwppuf1269747.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDU":"2倍做多NVDA ETF-Direxion","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","NVDX":"2倍做多NVDA ETF-T-Rex","NVD":"2倍做空NVDA ETF-GraniteShares","NVIW.SI":"NVDA 3xLongSG261006","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0048584097.USD":"FIDELITY FUNDS  GLOBAL THEMATIC OPPORTUNITIES \"A\" (USD) INC","NVDY":"NVDA期权收益策略ETF-YieldMax","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0097036916.USD":"贝莱德美国增长A2 USD","2NVD.UK":"2X NVIDIA ETP","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) 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ET Acc H2-SGD"},"source_url":"https://finance.sina.com.cn/roll/2025-11-07/doc-infwppuf1269747.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2581042985","content_text":"国际投行预测，英伟达下一代AI服务器液冷组件总价值将近40万元。\n　　据科技媒体报道，摩根士丹利最新发布的报告显示，英伟达GB300 NVL72机架级AI系统，单单是液冷散热组件的价值就高达49860美元（约合人民币近36万元），这已经比GB200 NVL72系统高了大约20%。\n　　报告还显示，下一代Vera Rubin NVL144平台的散热总价将更高，随着计算托架和交换机托架的冷却需求进一步增加，预计每个机柜的冷却组件总价值将增长17%，达到约55710美元（约合人民币近40万元），其中为交换机托架设计的冷却模块预计价值将显著增长67%。\n\n\n　　随着数据中心CPU和GPU性能的不断提升，其功耗也随之激增，散热成本上涨的趋势非常明显。从GB200 NVL72到GB300 NVL72（散热成本增加20%），再到Vera Rubin NVL144（散热成本增加17%），在散热需求激增下，液冷产业出现爆发式增长。\n　　算力爆发下的散热刚需\n　　在全球AI算力需求持续爆发的背景下，数据中心计算密度呈指数级提升，传统风冷技术已难以满足高密度算力设备的散热需求。\n　　英伟达作为全球AI芯片龙头，其芯片功率不断突破上限，从H100的700W TDP（TDP：散热设计功耗），到B200的1000W，再到GB200的1200W，直至2026年下半年登场的Vera Rubin（VR200）平台，其GPU最大TDP将飙升至2300W，而2027年的VR300（Kyber架构）更是高达3600W，散热能力成为制约算力释放的核心瓶颈。\n　　液冷已从数据中心散热备选方案变为必需品。英伟达的液冷技术路线呈现清晰的渐进式升级特征。早期GB200采用单板单向冷板+风冷组合方案，冷板覆盖CPU、GPU等高温区，风冷负责电源等低温部件。\n　　新一代GB300全面升级为全冷板液冷方案，可稳定应对1400瓦散热需求。面向未来Rubin芯片的超高功耗场景，英伟达已布局两相冷板液冷与静默式（浸没式）液冷耦合方案。\n　　液冷产业已进入爆发式增长阶段。根据国际数据公司（IDC）预测，预计2025年中国液冷服务器市场规模达33.9亿美元，同比增长42.6%。从长期来看，2025~2029年复合增长率将保持48%的超高增速，2028年市场规模有望突破162亿美元。其中，英伟达相关芯片配套的液冷需求占据核心份额，成为市场增长的主要引擎。\n　　机构密集调研的概念股出炉\n　　液冷概念今年以来被热炒，据证券时报·数据宝统计，包括思泉新材、英维克、科创新源、同飞股份等多只个股年内股价翻番。\n　　从业绩看，多只液冷概念股今年前三季度表现较好，依米康、同飞股份、科创新源、飞荣达等归母净利润同比翻倍，高澜股份、曙光数创、思泉新材、依米康、同飞股份等营收同比增幅超50%。\n　　今年以来，多只液冷概念股获机构集中调研，其中冰轮环境、银轮股份、飞龙股份、中石科技、思泉新材、同飞股份获调研机构在100家及以上。\n　　冰轮环境在最新的调研纪要中表示，公司旗下顿汉布什公司和冰轮换热技术公司为数据中心乃至液冷系统提供一次侧冷源装备和热交换装置等冷却装备。\n　　银轮股份在调研中表示，公司明确数据中心液冷1+2+N发展战略规划，从远期来展望数据中心热管理会超过数字与能源事业部整体规模的50%。\n　　飞龙股份表示，公司液冷领域产能可以支持液冷业务的快速增长，目前子公司安徽航逸科技有限公司已拥有4条液冷领域生产线。\n　　中石科技表示，公司全新VC吸液芯散热技术已应用于国内大客户新一代AI PC中。\n　　同飞股份表示，在数据中心领域，公司推出了冷板式液冷和浸没液冷全套解决方案。\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：王珂","news_type":1,"symbols_score_info":{"NVDS.UK":0.6,"NVDY":0.6,"NVIW.SI":0.6,"3NVD.UK":0.6,"NVD":0.6,"SNVD.UK":0.6,"NVD3.UK":0.6,"NVDA":1.5,"NVDD":0.6,"NVDX":0.6,"NVD2.UK":0.6,"NVDS":0.6,"2NVD.UK":0.6,"NVDU":0.6}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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