Demand for NVIDIA's next-generation AI servers continues to surge. Industry analysts project that NVIDIA's GB300 series servers, which began small-scale shipments at the end of this year, will enter mass production in the first half of next year. Market forecasts suggest annual GB300 cabinet shipments could reach 55,000 units in 2025, marking a 129% year-over-year increase. This robust outlook is driven by aggressive procurement from global cloud service providers (CSPs).
Key clients, including Microsoft, Meta, Oracle, and Dell, are leading the demand, while Google and Amazon AWS are expected to order between 3,000 and 4,000 cabinets. This demand distribution directly impacts downstream manufacturers' order allocations and serves as a critical metric for investors evaluating supply chain value.
Notably, NVIDIA's product iteration remains rapid, with the Vera Rubin 200—the successor to the Blackwell architecture—slated for mass production in Q4 2025.
**Strong Demand and Tech Giants' Expansion** The GB300, a cornerstone of the Blackwell platform, has drawn significant market attention. Analysts highlight that unlike the GB200, which faced yield and design adjustments, the GB300's production timeline remains on track. Enhanced specifications for cooling, substrates, and connectors suggest higher unit prices and overall output, likely boosting supply chain performance.
Foxconn Chairman Young Liu emphasized the "exceptionally strong" demand for computing power, projecting 50,000–60,000 cabinet shipments next year—a "conservative estimate" compared to bullish market forecasts of up to 100,000 units.
**Supply Chain Dynamics: Foxconn and Quanta Dominate Orders** Taiwan's AI server supply chain stands to benefit significantly. Foxconn, as Microsoft and Oracle's primary supplier and Meta's secondary vendor, is the leading GB300 manufacturer. Quanta, despite losing some Meta orders, secured smaller deals with Oracle and Microsoft. Wistron maintains its exclusive supplier role for Dell.
Key component suppliers, including TSMC, Delta Electronics, Auras, Cooler Master, and King Slide, are also poised to gain from this wave.
**Optimistic Outlook: Orders Visible Through 2027** Major manufacturers express confidence amid sustained demand. Quanta confirmed GB300 has entered mass production, with deliveries accelerating, and order visibility extending to 2027. Foxconn is expanding capacity in Texas, California, Ohio, and Wisconsin, with Liu noting improved production yields and a "high double-digit" quarterly growth trajectory in Q4.
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