TrendForce reports that NVIDIA’s Hopper H100 began to see a reduction in shortages in 1Q24. The new H200 from the same platform is expected to gradually ramp in Q2, with the Blackwell platform entering the market in Q3 and expanding to data center customers in Q4.
However, the GH200 accounted for only approximately 5% of NVIDIA’s high-end GPU shipments. The supply chain has high expectations for the GB200, with projections suggesting that its shipments could exceed millions of units by 2025, potentially making up nearly 40 to 50% of NVIDIA’s high-end GPU market.
Global server shipments are estimated to reach approximately. 13.654 million units in 2024, an increase of about 2.05% YoY. Meanwhile, the market continues to focus on the deployment of AI servers, with their shipment share estimated at around 12.1%.
TrendForce’s newest projections spotlight a 2024 landscape where demand for high-end AI servers—powered by NVIDIA, AMD, or other top-tier ASIC chips—will be heavily influenced by North America’s cloud service powerhouses. Microsoft (20.2%), Google (16.6%), AWS (16%), and Meta (10.8%) are predicted to collectively command over 60% of global demand, with NVIDIA GPU-based servers leading the charge.
TrendForce anticipates 2024 to mark a significant expansion in edge AI applications, leveraging the groundwork laid by AI servers and branching into AI PCs and other terminal devices. The global AI server market—encompassing AI Training and AI Inference—is projected to exceed 1.6 million units, growing at an impressive rate of 40%. Additionally, CSPs are expected to ramp up their involvement in this sector.
Huawei’s subsidiary HiSilicon has made significant strides in the independent R&D of AI chips, launching the next-gen Ascend 910B. These chips are utilized not only in Huawei's public cloud infrastructure but also sold to other Chinese companies.
Despite strong shipments of NVIDIA’s high-end GPUs—and the rapid introduction of compliant products such as the H20, L20, and L2—Chinese cloud operators are still in the testing phase, making substantial revenue contributions to NVIDIA unlikely in Q4. Gradual shipments increases are expected from the first quarter of 2024.
TrendForce believes that the primary driver behind NVIDIA’s robust revenue growth stems from its data center’s AI server-related solutions. Key products include AI-accelerated GPUs and AI server HGX reference architecture, which serve as the foundational AI infrastructure for large data centers.
TrendForce forecasts that global demand for HBM will experience almost 60% growth annually in 2023, reaching 290 million GB, with a further 30% growth in 2024.
