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An AI server consumes 15 times more capacitors: MLCC, substrates, and TCB may become new winners in the chip supply chain.

An AI server consumes 15 times more capacitors: MLCC, substrates, and TCB may become new winners in the chip supply chain.

``` The wave of AI infrastructure construction is spreading deep into the supply chain, accelerating the entry of previously little-known component manufacturers into investors’ sights. As computing power demand continues to surge, AI servers consume far more electronic components than traditional servers, with the usage gap for some parts reaching dozens
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Despite being the "global leader," Nvidia still faces a "valuation discount." Bank of America: It should strengthen "buybacks and dividends."

Despite being the "global leader," Nvidia still faces a "valuation discount." Bank of America: It should strengthen "buybacks and dividends."

``` Nvidia’s valuation increasingly looks like a “cash distribution” issue, rather than just an AI cycle issue. Bank of America Securities shifts the perspective from computing power demand and product iteration back to a more fundamental question: When the peak of ecosystem investment passes, can Nvidia return its increasingly extraordinary
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