Citi: BYD ELECTRONIC will become the supplier of power components for NVIDIA and desktop robots for Apple, reiterating the "Outperform" rating

According to the Zhitong Finance APP, Lyon has released a research report stating that, based on information from NVIDIA (NVDA.US), BYD Electronic (00285) will become a power component supplier for NVIDIA's new 800VDCAI server architecture, giving BYD Electronic the opportunity to become a comprehensive AI server solution provider within NVIDIA's AI server systems. Additionally, Apple (AAPL.US) is collaborating with BYD Electronic on an upcoming desktop robot and home hub, which is expected to become a new growth driver for BYD Electronic's business. The firm reiterated its "Outperform" rating on BYD Electronic, with a target price of HKD 52.9. According to NVIDIA's blog, NVIDIA and its partners are driving the construction of the next generation of efficient gigawatt-level AI factories to support the development of the Vera Rubin project. NVIDIA has launched a new 800VDCAI server architecture, expected to be released in 2027. In the blog, BYD Electronic's wholly-owned subsidiary Lead Wealth is listed as a "power system component supplier." Lyon stated that BYD Electronic's liquid cooling products, including quick connectors, cold plates, and manifolds, were certified by NVIDIA in March 2025 for use in NVIDIA's GB200/300NVL72 systems. BYD Electronic aims to start shipping to overseas customers in the second half of 2025. In the long term, becoming a power system component supplier will enable BYD Electronic to become a comprehensive AI server solution provider in NVIDIA systems and other AI server systems. Additionally, according to relevant agencies, Apple will produce its desktop robot and home hub in Vietnam. The report mentioned that Apple is collaborating with BYD to develop a desktop robot and home hub equipped with a display. It is reported that Apple plans to launch this home hub in the spring of 2026. Apple is also planning to produce a desktop robot that resembles the home hub display but is mounted on an electric stand, allowing the screen to move within the user's workspace or kitchen. Lyon stated that BYD Electronic has long-term experience in manufacturing smart Internet of Things (IoT) devices and various types of robots, and maintains a solid partnership with Apple. In the firm's view, this home hub and robot business will become a new growth driver for BYD Electronic