Title: Mizuho Raises 2025 Forecast for Nvidia's AI GPU Units, Anticipating Strong Growth
Investing.com -- Mizuho's top analysts in Asia have increased their 2025 forecast for Nvidia's AI GPU units, predicting robust growth driven by enhanced production capacity. The analysts have raised Nvidia's total 2025 AI GPU shipments by 8-10% compared to previous estimates, citing improvements in key supply chain areas, especially in CoWoS technology.
According to the report, Nvidia is expected to ship between 6.5 to 7 million units in 2025, including 3 million units of CoWoS-S GPUs. These shipments will focus on the Hopper and Blackwell models, with CoWoS-S achieving a yield of over 99%. Additionally, CoWoS-L is projected to produce between 3.8 and 4 million units, with a significant portion dedicated to supporting the high-demand GB200 server racks.
Mizuho's updated forecast coincides with Taiwan Semiconductor Manufacturing, Nvidia's primary production partner, doubling its annual wafer capacity. The analysts expect the tight supply situation in CoWoS to persist into 2025, but gradual improvements are anticipated with TSMC's increased wafer capacity and outsourced processes to Advanced Semiconductor Engineering.
Furthermore, concerns about delays in the Blackwell GPU rollout are deemed exaggerated by analysts, as both TSMC and SK Hynix Inc are on track for sales growth post-launch. Mizuho's analysts do not foresee any delays impacting AI server production in 2025, including AI GPUs and ASICs. They also highlight potential benefits for Taiwanese back-end equipment vendors from TSMC's localization efforts.
In conclusion, with the increased production capacity and supply chain enhancements, Nvidia's AI GPU units are expected to experience strong growth in 2025. Investors can look forward to potential opportunities as the company continues to innovate and meet market demands.
