PDF 原檔：260607_ms_computex_original.pdf
原始內容
M June 7, 2026 09:41 PM GMT
Global Technology
Computex 2026 Takeaways
A full suite of racks in a Nvidia Vera Rubin POD was on full display at Computex, including the Vera rack, Storage rack, Groq 3 LPX rack, Spectrum-X CPO Switch, and Vera Rubin NVL72. Nvidia also introduced its Agentic PC chip RTX Spark chip, which is scheduled to launch in the fall.
Key Takeaways
- We don't think Kyber will be ready for mass deployment in Rubin Ultra.
- Our checks suggest the 800V DC power rack is on track to ship in 4Q26.
- Networking and power/data interconnects will play a bigger role in AI cluster.
- Mechanical components should also benefit from AI device growth.
The number of people attending Computex continues to surprise on the upside ,
which we view as a positive indicator for AI demand as a whole, as investors from around the world are flying in to look at the supply chain's latest breakthroughs on AI servers, from components to rack-level designs. NVIDIA's Vera CPUs were on display in different form factors, such as the MGX board used in a Vera rack, or in the HGX board. For the standalone Vera CPU rack, it comes with 125/256 CPUs per air/liquid-cooled rack and MP is scheduled for 4Q26. Hon Hai also showcased the Groq 3 LPX compute tray, which is expected to enter production in 3Q26, while Wistron/Wiwynn's BlueField-4 STX storage rack highlights growing storage/ networking attach. Based on Nvidia's Vera Rubin POD, every 8 Vera Rubin NVL72 will be accompanied by 1 Vera CPU standalone rack, 1 STX storage rack, and 5 Groq 3 LPX racks. See our Compute quick takes here, and Rubin Rack BOM Analysis here.
Power and cooling continue to be a key highlight at COMPUTEX this year as well,
as rack density and chip TDP continue to rise. NVIDIA's 800V DC roadmap points to 800V DC standalone power rack readiness in 3Q26, a 1.6MW power center, and 4.8MW power blocks from 1Q28, while Delta highlighted SST and fuel-cell solutions. On cooling, vendors showcased liquid-to-air, liquid-to-liquid and in-row CDUs, including Delta's 3MW in-row CDU and planned 6.8MW version by year-end. FIT's busbars and QDs, Vera Rubin liquid-cooling readiness for 3Q26 mass production, and longer-term microchannel lids all point to a faster thermal-content upgrade cycle, though yield, leakage and reliability qualification remain key hurdles.
AI PC will take time to bear fruit: NVIDIA introduced RTX Spark, an Arm-based SoC combining Grace CPU, Blackwell GPU, AI acceleration and unified memory, with shipments to start from fall 2026. The highest-end spec noteboook will likely exceed US$3K, but it also comes in a desktop form factor. However, we expect limited near-term demand impact. AI power users will be the first to buy, but many have already bought Mac Minis earlier in the year. That said, we believe the DT form factor makes more sense as Jensen's vision is to have this running 24/7 in your home.
Global Idea
Morgan Stanley Taiwan Limited+
| Howard Kao Equity Analyst Howard.Kao@morganstanley.com | +886 2 2730-2989 |
|---|---|
| Sharon Shih Equity Analyst Sharon.Shih@morganstanley.com | +886 2 2730-2865 |
| Derrick Yang Equity Analyst Derrick.Yang@morganstanley.com | +886 2 2730-2862 |
| Samantha Chen Research Associate Samantha.Chen@morganstanley.com | +886 2 2730-2876 |
| Irene Yen Research Associate Irene.Yen@morganstanley.com | +886 2 2730-2869 |
| Vivi Huang Research Associate Vivi.Huang@morganstanley.com | +886 2 2730-2860 |
Greater China Technology Hardware
Asia Pacific
Industry View
In-Line
Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision.