Excluding non-market factors and colors, Huawei’s τ law can be understood as the same thing as Lao Huang’s extreme co-design.

From 48V to 800V, and then to solid-state transformers, the bottlenecks in AI data centers are continuing to move from chips, networks, and liquid cooling to more upstream power electronics and energy supply.

This episode is a collaboration between BEDROCK and Trader. Topics include: Starting with DCI, the driving logic behind it; The structure and bottlenecks of AI infrastructure; The rationality and sustainability of AI capital expenditure; The diffusion of opportunities in the industry chain, technological iteration, etc.; The coexistence of opportunities for both old and new AI.

The role of DCI has changed. Once computing power is no longer crammed into a data center, demand will not only follow the number of users, but will be amplified by the number of nodes, single connection bandwidth, and topology level.