Jibang Consulting: NVIDIA's B300 series products are expected to start shipping between the second and third quarters of 2025

According to TrendForce's latest survey, NVIDIA (NVDA.US) will rename all its Blackwell Ultra products to the B300 series, strategically promoting B300 and GB300 CoWoS-L GPU products next year, increasing the demand for advanced packaging technology. The B300 series products, originally planned, are expected to start shipping between the second and third quarters of 2025. As for the B200 and GB200, shipments are expected to gradually start between the fourth quarter of 2024 and the first quarter of 2025. TrendForce pointed out that NVIDIA's division of the Blackwell series chips is more detailed to provide products that meet the performance requirements of CSPs (large cloud service providers) and the cost-effectiveness needs of server OEMs, dynamically adjusting based on the supply chain's capacity. For example, B300A is targeted at OEM customers and is expected to ramp up gradually starting from the second quarter of 2025. NVIDIA originally planned to offer B200A series products to server OEM customers but adjusted to B300A during the design phase, indicating that enterprise customers' demand for downgraded GPUs may not meet expectations. The shift from GB200A to GB300A in the rack solution suggests that future enterprise customers may face higher entry costs, potentially inhibiting growth momentum. Observing NVIDIA's recent product strategy, the focus in 2025 will be on AI models with higher revenue contribution. For instance, NVIDIA is actively investing in technology and resources in the NVL Rack solution to assist server system providers in tuning system performance for NVL72 or liquid cooling, and promoting the transition of AWS, Meta, etc., from the existing NVL36 to expanding the adoption of NVL72. From the perspective of shipment share, NVIDIA's high-end GPU products have shown significant growth, with an estimated overall shipment share of about 50% in 2024, increasing by over 20 percentage points annually. With the launch of the new Blackwell platform in 2025, the share of high-end GPU shipments is expected to exceed 65%. TrendForce predicts that NVIDIA, as a major demander of CoWoS, will see an increase in CoWoS demand by over 10 percentage points in 2025 with the volume increase of the Blackwell series. Based on NVIDIA's recent product line adjustments, it is estimated that in 2025, the company will focus on providing B300 or GB300 to large CSPs in North America, all of which use CoWoS-L technology. The B300 series will adopt HBM3e 12hi In addition to the increased demand for CoWoS, NVIDIA's procurement scale of HBM will continue to expand, with its consumption in the overall HBM market estimated to exceed 70% in 2025, increasing by over 10 percentage points annually TrendForce expects that the B300 series will be paired with HBM3e 12hi, and the mass production of this HBM product is expected to fall between the fourth quarter of 2024 and the first quarter of 2025. However, HBM3e 12hi is a stack layer product produced by suppliers for NVIDIA's first large-scale production, and it is expected that the production yield will need to go through a learning curve of at least two quarters to reach a stable state.