As the wave of generative AI drives up demand for computing power, tech giants like Google are continuously increasing their investments in infrastructure. In this industry chain, a group of domestic suppliers are quietly becoming behind-the-scenes heroes, taking on the responsibilities of core components and system integration.

Currently, the industry chain can be divided into three core sectors. In the optical switching (OCS) field, there are four key players: Guangku Technology mainly handles equipment OEM, DekeLi provides OCS complete solutions, Tengjing Technology enters the optical device niche market, and Saiwei Electronics focuses on chip foundry. The liquid-cooled server sector is experiencing explosive growth as power consumption pressures increase, with InnoVik’s CDU and supporting products, Siquan New Materials and Feirongda’s liquid cooling plates, and Kexinchuangyuan’s thermal conductive materials forming a complete cooling solution system. The power supply and transformer fields are the most competitive, with Oulutong focusing on server power supplies, Jinpan Technology and Sifang Co., Ltd. competing based on the SST system, Igor undertaking transformer OEM business, and Jingquanhua holding an advantage in medium-voltage high-frequency converter devices within the SST system.

From NVIDIA’s booming industry chain to the rise of Google’s chain, the industry logic is gradually becoming clearer. The industry generally believes that Guangku Technology, InnoVik, and Jingquanhua are the most likely to become core beneficiaries within Google’s industry chain ecosystem, each holding key positions in different sectors.