Asia AI Power Supply Global Markets Research EQUITY: TECHNOLOGY HVDC power – the enabler for next-gen AI Expect the surging AI server performance upgrade to accelerate the migration to HVDC in late 2026F2027F AI power upgrade to HVDC to materialize in late 2026F2027F In light of the rising power consumption and performance of AI chips, we believe that the current mainstream solution – 33kW and 72kW power shelves placed in IT racks (operated at 48-54V [~50V] DC as intermediate bus voltage) – will soon reac ...