Jibang Consulting: Nvidia (NVDA.US) AI cabinet product generation alternation estimates that NVL72's production value contribution in 2027 can exceed US$710 billion

The Zhitong Finance App learned that according to TrendForce Jibang Consulting's latest AI Server industry research, the GB300 full-cabinet solution has become the main shipping force for NVIDIA (NVIDIA, NVDA.US) in 2026, and demand is expected to continue until the first half of 2027. Subsequently, the new generation VR 200 cabinet will be released, making it the product with the highest share of shipments in 2027. As for the newer Rubin Ultra platform (VR300), the share of shipments is still low due to undecided design details of HBM and server architectures.

TrendForce Jibang Consulting estimates that in 2027, shipments of NVL72 cabinets such as GB and VR will increase by more than 50% per year. Considering that the average sales unit price (ASP) of the Vera Rubin system has doubled compared to GB300, and the planned price increases for key components such as upstream wafers and HBM, it is estimated that in 2027, the total output value contribution of NVL72 cabinet systems including GB300, VR200, and VR300 will exceed 710 billion US dollars, with an annual growth rate of 214%. The growth momentum of the central supply chain.

Furthermore, the customer base structure of the full-cabinet solution is changing. Although the five largest CSPs in North America are still the main buyers, their procurement share is expected to drop from about 70% in 2025 to 60% in 2026, mainly due to the continued rise in demand from manufacturers such as Tesla (Tesla, including XAI and SpaceX) and CoreWeave. NVIDIA's latest financial report also shows that its data center business accounts for 93% of total revenue, and Neocloud and Sovereign Cloud have also become sources of growth.

Chip vendor competition expands to data center infrastructure

NVIDIA revealed its AI infrastructure layout at a recent performance briefing, with the Ports-Pike campus in Ohio, USA as the most representative example. The park will be built, owned and operated by SB Energy (SB Energy), and OpenAI leases 8 IT-GW. NVIDIA obtained exclusive computing power supply status throughout the site and provided a residual value guarantee (Residual Value Guarantee) for the initial 4.25 IT-GW. The cumulative payment obligation limit was 105 billion US dollars, covering land, electricity, and plant levels other than chips, and announced that the company would expand the competitive landscape from the xPU chip level to data center infrastructure.

TrendForce Jibang Consulting pointed out that ASIC leader Google (Google) has also adopted a similar strategy and promised data center leases that Anthropic wants to lease, and the relevant total amount has reached 44 billion US dollars. This move can bring Google about 20% of the shares in data center computer rooms and power plant projects, while binding its TPU to its largest flagship customer. Broadcom (Broadcom), which co-designed the TPU, also promised that if the chip is slow to sell, it will buy back to make up the price difference. Overall, the layout of Google and NVIDIA has been extended from the chip and system supply side to the data center infrastructure level. Subsequent demand is guaranteed by incorporating their own chips into financing terms.