TechFlow news, according to TechFlow Research, JPMorgan released an AI power chip report, outlining the complete power delivery chain from the power grid to GPU chips. The AI power semiconductor market will be $2.7 billion in 2025, surging to $19.2 billion in 2028, with a three-year CAGR of 82%.
Key drivers are the addition of 81 GW of new installed capacity for AI data centers in 2028 and the replacement of traditional AC with 800V high-voltage DC architecture. The new architecture uses SiC solid-state transformers and GaN DC-DC converters to replace electromechanical equipment, increasing semiconductor content per watt from $175 to $260.
NVIDIA Kyber racks will drive 800V mass production in the second half of 2027. Key players include Infineon (strongest across the full chain), MPS (VRM leader, NVIDIA supplier), Renesas, Navitas, etc. The biggest risk is the timing mismatch between the power grid expansion cycle (3-5 years) and the data center construction cycle (2 years).
