野村-AI数据中心电源市场：新型GPU供电网络发展及被动元件需求-Development of new GPU power delivery networks and demand for passive parts-20261008

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ANCHORREPORT

GlobalMarketsResearch

8October2026

AIdatacenterpowersupplymarket

DevelopmentofnewGPUpowerdeliverynetworksand

ResearchAnalysts

demandforpassiveparts

Japanelectronicparts

WecompareandanalyzetheshiftfromlateralpowerdeliverytoverticalpowerdeliveryandIVRsystemsusingsimulationsbasedonvirtualprocessors.

•Methodology:WedevisedvirtualprocessorsequivalenttoNvidia'sBlackwellandRubinseriesandcomparedGPUpowerdeliverynetworkconfigurationsusingsimulations.

ManabuAkizuki-NSC

manabu.akizuki@

+81367031185

•Comparisonofpowerdeliverysystems:Lateralpowerdeliverymetourdesigncriteriain

theBlackwell-equivalentmodelbutfailedtodosointheRubin-equivalentmodel,even

withincreasedcapacitance,andwehadtorelaxtheconditions.Theuseofverticalpowerdeliveryandintegratedvoltageregulator(IVR)systemsimprovedpowersupplystability,andtheIVRsystemmetourdesigncriteria.Thesesystemsuselesscapacitanceontheoutputsideofthevoltageregulatorbutneedmorecapacitanceontheinputside.

•Implicationsforpassiveparts:IncreasesinGPUpowerconsumptionarechangingthe

configurationofelectronicparts,therequiredcapacitance,andwheretheyarelocated.Infuture,wethinkembeddingcapacitorsandmakinginductorssmallerwillbecrucial.

•Stockpicks:WerecommendMurataManufacturingforthecomprehensivestrengthsofits

broadproductlineup,andTDKforitsleadinthin-filminductors.

SeeAppendixA-1foranalystcertification,importantdisclosuresandthestatusofnon-USanalysts.

SeeAppendixA-1foranalystcertification,importantdisclosuresandthestatusofnon-USanalysts.

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GlobalMarketsResearch

AIdatacenterpowersupplymarket8October2026

EQUITY:JAPANELECTRONICPARTS

DevelopmentofnewGPUpowerdeliverynetworksanddemandforpassiveparts

WecompareandanalyzeshiftfromlateralpowerdeliverytoverticalpowerdeliveryandIVRsystemsusingsimulationsbasedonvirtualprocessors

Simulatingpowersupplyconfigurationsbasedonvirtualprocessors

WethinkthemarketforAIdatacenterpowersupplieswillpresentawiderangeofinvestmentopportunities.Powerdeliverynetworks(PDNs),whichsupplyelectricitytoGPUs,are

approachingaturningpointintermsofdesigningtheconfigurationsofcapacitorsandvoltageregulatorsasthepowerconsumptionofGPUsincreases.Inthisreportwecarryouta

simulationofvirtualprocessorswiththesameelectricalpropertiesasNvidia'sBlackwellandRubinproductstocompareandstudyPDNconfigurationsforthesevirtualprocessors.

ComparinguseofverticalpowerdeliveryandIVRsystemsversuslateralpower

delivery

Wefirstbuiltlateralpowerdeliverymodelsforbothprocessorsandcalculatedthesplitin

currentdemandedbytheGPUbetweenvoltageregulatorsandcapacitors,aswellasPDN

impedanceandvoltagedroop.WethenconstructedmodelsfortheRubin-equivalentprocessorusingverticalpowerdelivery,wherethevoltageregulatorisplacedbelowtheGPU,andforanintegratedvoltageregulator(IVR)system,wherevoltageregulationisintegratedintothe

package.Wecomparedtheseagainstlateralpowerdeliveryintermsofhowimprovedvoltageregulatorresponsivenessandshorterpowerdeliverypathwaysaffectvoltagestabilityand

capacitorconfiguration.

Qualitativechangesincomponentconfigurationsdependingonpowerdelivery

system

TheresultsofoursimulationsshowedthatthelateralpowerdeliverymodelforourBlackwell-equivalentprocessorclearedourdesigncriteria,buttheRubin-equivalentprocessor,whichhashigherpowerconsumption,failedtoachieveitstargetimpedancewithlateralpowerdelivery,

andweneededtorelaxourloadfluctuationcondition.Evenafterthis,theeffectivecapacitanceontheoutputsidewassome60%higherthanfortheBlackwell-equivalentprocessor(roughly32mF).IncreasingcapacitanceonthePCBsidehadlittleimpact,andtheonlyeffective

measurewasincreasingcapacitancewithinthepackage,closetotheGPU.Bycontrast,the

improvedvoltageregulatorresponsivenessandshorterpowerdeliverypathwaysintheverticalpowerdeliveryandIVRsystemsimprovedvoltagestability.TheIVRmodelmetourdesign

criteria,andimpedanceintheverticalpowerdeliverymodelonlyexceededthetolerable

maximumbyaround2%.Theshorterpowerdeliverypathwaysalsoreducedpowerdistributionlossescausedbyresistance.Theeffectivecapacitanceontheoutputsideofthevoltage

regulatorfelltoaround13mFinverticalpowerdeliveryandaround1.8mFinIVR,butmore

capacitancewasneededontheinputside.Thehigherthevoltageofinput-siderails,thelowerthecapacitancerequired.ThisshowsthatincreasedGPUpowerconsumptionwillnotjust

simplyboostcapacitordemandintermsofcapacitancebuthaveaqualitativeimpactonparttypes,capacitance,andmountinglocations.Giventhelimitedmountingareaprovidedby

packages,wethinkmovestoembedcapacitorsandincreasemountingdensitywillbecrucial,alongsideinductorstohelpmakevoltageregulatorssmaller.

WerecommendMurataManufacturingforcomprehensivecapabilities,TDKfor

leadingpositioninthin-filminductors

WerecommendMurataManufacturing[

6981

]andTDK[

6762

]ascompanieslikelytobenefitfromtheseadvancesinPDNs.MurataManufacturing'sstrengthliesinitsbroadproductlineupthatcankeepupwithchangesinpowerdeliverysystems,includingcompact,high-capacitanceMLCCsforlateralpowerdelivery,IntegratedPackageSolution(iPaS)productsforvertical

powerdelivery,andsiliconcapacitorsforIVRsystems.TDKhasstrengthsinthin-filminductorsthatweexpecttobeusedinverticalpowerdeliveryandIVRsystems,andithasalsobeen

workingonthedevelopmentofhightemperature-ratedMLCCs,whichwethinkwillbeincreasinglyusedinPDNs.

ResearchAnalysts

Japanelectronicparts

ManabuAkizuki-NSC

manabu.akizuki@

+81367031185

3

Nomura|AIdatacenterpowersupplymarket【价值目录Otbr2：026

Introduction

LookingforinvestmentopportunitiesinmarketforAIdatacenterpowersupplies

WethinkthemarketforAIdatacenterpowersupplieswillpresentawiderangeof

investmentopportunities.Powersupplytodatacentersisbroadlydividedbetweenpowerdistribution,whichreferstogettingelectricitytotheracks,andpowerdeliverynetworks(PDNs),whichtaketheelectricitysuppliedtotheracksandstepthevoltagedownsothatitcanbeusedbytheprocessors.

Twopowersupplymarkets:PowerdistributionandPDN

Powerdistributionsystemshavebeenshiftingtohighervoltagestodelivermorepowerclosertotheloadandtoreducebothcurrentandpowerlosses.PDNstakethehigh-

voltagepowerdeliveredtotherackandstepitdownto1.0VorlowerclosetotheGPU,andareseeingashifttowardsshorterlow-voltage,high-currentwiringsections.

PDNmarket:SupplyingpowertoGPUusingvoltageregulatorsandcapacitors

ThepowerrequiredbyaGPUisnotconsistentbutvarieswidelyinashortspaceoftimedependingontheoperatingstateofcomputeunitsandmemory.Differentcomponentsareusedtodealwiththesefluctuationsinload,withcapacitorsclosetotheGPU,

capacitorsinpackageoronthePCB,andvoltageregulatorssupplyingpowerindifferenttimewindowsdependingontheirresponsiveness.CapacitorsclosetotheGPUmakeupforcurrentshortfallsimmediatelyafterasurgeinload,andhigh-capacitancecapacitorsandvoltageregulatorsthataremoredistanttakeoverpowersupplyafterthat.Generallyspeaking,capacitorsclosertotheGPUprovidelessenergybutcandealwithfaster

changesinload.Bycontrast,moredistantcapacitorsandvoltageregulatorscansupplymoreenergybutittakeslongerforthemtogetthecurrenttotheloadbecauseofthe

resistanceofthewiresandloopinductance.

Shiftinvoltageregulatorsfromlateralpowerdeliverytoverticalpowerdeliveryand

integratedvoltageregulators

ThismeansthatensuringstablepowersupplytoGPUsrequiresanintegrateddesign

approachthatfactorsinvoltageregulatorresponsivenessandcapacitorplacementnot

onlytoensurethenecessarycapacitanceinthecapacitorsbutalsotogettheenergy

requiredtotheGPUwhenitisneeded.Inparticular,increasingfluctuationsinGPUpowerconsumptionandloadcurrentcanmakeitmoredifficultforlateralpowerdelivery,the

currentmainstreamtypeofPDN,torespondjustbyraisingthenumberofcapacitorsandincreasingvoltageregulatorresponsiveness.Notablesolutionstothisissueare

technologiestoshortenthepowersupplypathitself,suchasverticalpowerdelivery,wherethevoltageregulatorsaresiteddirectlybelowtheGPU,andintegratedvoltageregulatorIVR),wherevoltageregulationhappenson-package.

Constructionofsimulationmodelsusingvirtualprocessors

InthisreportweconstructasimulationmodelforPDNsthatcanrespondtothepower

requirementsofvirtualprocessorsthathavethepowercharacteristicsofNvidia's

BlackwellandRubinproducts(Blackwell:powerconsumptionof1,000Wandcorevoltageof0.75V,Rubin:powerconsumptionof2,300Wandcorevoltageof0.70V).Weusethesemodelstoanalyzetheconditionsrequiredinpowersupplyforfuturehigh-performance

processorsratherthantoreproducetheinternalcircuitryandcomponentsusedwithactualNvidiaproducts.

Timewindowmodelofcapacitor/voltageregulatorsupplyofGPUrequiredcurrent

Inoursimulation,welookatwhetherthevoltageregulatorsandcapacitorscancopewiththecurrentrequiredbytheGPUandwhetherthesystemcankeepthevoltageatthe

processorterminalswithinthetolerablerange.Voltageregulatorscannotimmediately

keepupwithrapidchangesinGPUload,andcapacitorsareusedtomakeupforthe

interimcurrentshortfalls.Here,welookatcapacitorchargeswing,definedasthe

varianceinelectricalchargeoverthechargingcycleofthecapacitorresultingfromthe

differencebetweencurrentdemandedbytheGPUandcurrentsuppliedbythevoltageregulator(measuredincoulombs),andlookathowitaffectschangesinvoltage.Wealsolookattheenergybuffer,definedastheenergythatcapacitorscansupplytotheGPU

duringperiodsofchangeinloadtoensurethatthevoltageremainswithinitstolerablerange(measuredinjoules),andseewhetheritcanfullysupporttheGPUrequirements.

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Nomura|AIdatacenterpowersupplymarket【价值目录Otbr2：026

Weusetheseevaluationstocomeupwithcapacitorrequirements(measuredinfarads)andmountingconfigurationsthatcankeepvoltageswingswithinthetolerablerange,

factoringinwiringresistance,loopinductance,andvoltageregulatorresponsiveness.

FirstassumptionsareforBlackwell-andRubin-equivalentlateralpowerdelivery

WefirstconstructalateralpowerdeliverymodelforBlackwell-andRubin-equivalent

processors,andanalyzehowhigherGPUpowerconsumptionaffectsPDNdesigncriteria.

Usingastrictload-stepcondition(ΔI)withtheRubin-equivalentprocessorpushesthe

impedanceofthelateralpowerdeliverymodelabovetheupperlimit(targetimpedance)neededtokeepvoltageswingswithinthetolerablerange,andresolvingthisrequires

eithereasingtheload-stepcondition,sharplyincreasingcapacitorcount,orincreasing

voltageregulatorresponsiveness.Havingidentifiedthesedesignconstraints,wecomparevoltagestabilityandtherequiredenergybufferinmodelsthatassumeverticalpower

deliveryorintegratedvoltageregulators.

Potentialimpactofusingverticalpowerdeliveryorintegratedvoltageregulators

Weusethisinformationtoanalyzepotentialchangestotheenergybufferneeded

betweentheinputandoutputsidesofthevoltageregulatorfromtheshiftinpowersupplydesigntoverticalpowerdeliveryorIVR,therebyprovidinginsightintohowthiswillaffectfuturecapacitancerequirements,capacitormountinglocation,andproductmix,aswellasdemandforrelatedpartsandmaterials.

1.AIdatacenterpowersupplyconfigurationandGPUpowerdelivery

AIdatacenterpowersupplyconfiguration

AIacceleratorsconsistofmultiplecomputeunitsrunninginparallel,whichmeansPDNshavetobothsupplyoflargecurrentsatlowvoltageandrespondtosuddenchangesin

load.UnderstandingthemechanismsthatcansupportthesepowerrequirementscangiveusaninsightintohowpowersuppliesforAIdatacentersareconfigured.

Powerdistribution:Supplying480VACtoserverracks

AIdatacenterstakethemedium-voltage(MV)alternatingcurrent(AC)providedby

electricpowercompaniesandusetransformerstostepitdownto400Vor480V.From

here,thepowerissuppliedtotherackenclosuresviaautomatictransferswitches(ATSs),uninterruptiblepowersupplies(UPSs),andpowerdistributionunits(PDUs).

Rackenclosure:Steppingdownfrom480VACtolessthan1V

Withintherackenclosure,powersupplyunits(PSUs)onpowershelvesareusedto

convertthiscurrenttonominal48VDC(50–54Vinrealterms),whichisthendistributedtotheserverunitsviabusbars.Intheserverunits,thisisthensteppeddowntointermediatevoltageusingDC-DCconverterssuchasintermediatebusconverters(IBCs)asneeded,andthefinalvoltageregulatorsthenstepthisdowntotheGPU'scorevoltageof1Vor

less(Figure1).Voltageregulatorsadjustthesuppliedcurrentbymonitoringtheoutput

voltageandensuringthatthevoltageremainswithinagivenrange(however,theycannotimmediatelyrespondtosuddenchangesinload,andcapacitorshavetobeusedto

providecurrentshortfalls).

Fig.1:AIdatacenterpowersupplyconfiguration

Source:Nomura,basedonSchneiderElectric,Deltadata

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Nomura|AIdatacenterpowersupplymarket【价值目录Otbr2：026

48VDCpowersupplybusesarecurrentmainstreamforrackenclosures

ConventionalserversfrequentlyusePSUswithintheserverunittoconvert200VACto12VDC.In48Vpowersupplysystems,theconversiontoDCiscentralizedinthepowershelfattheracklevel,andthendistributedtotheserverunitsusingacommon48V-classbusbar.Ahighervoltageallowsthesamepowertobedeliveredatalowercurrent,

therebyreducingthepowerdistributionlossesinthebusbarandconnectors.48Vbusesareconnectedtobatterybackupunits(BBUs)toensureongoingpowersupplyoveracertainperiodoftimeeveniftheACinputislost.

WeanalyzepowersupplyfromPDNvoltageregulatorsthroughtoGPU

InthisreportwedefinepowerdistributionaseverythingfromMVinputthroughtojustbefore48VDCconversioninthePSU(theACinputside)andthepowerdistributionnetwork(PDN)aseverythingfromthe48VDCoutputofthePSUthroughtotheAI

accelerator.ThePDNincludesthe48Vbus,IBCs,whichareinstalledasneeded,andfinal-stagevoltageregulators,capactors,andwiring.

Here,themaintargetsofanalysisinoursimulationarethefinal-stagevoltageregulators,thecapacitorsontheinputandoutputsidesofthis,andthewiring,whileupstream,one-timevoltageconversionparts,suchasthepowershelfandthe48Vbus,falloutsidethescopeofouranalysis.Weestimatevoltageregulatoroutputcurrentandcapacitor

charging/dischargingcurrentovertimeinresponsetochangesinGPUloadandusethistoevaluateenergyallocationandvoltagechangesfordifferenttimewindows.Basedonthis,weidentifytherolesofthevoltageregulatorsandcapacitorsineachdifferentpowersupplymethodandalsousedeterminetherequiredcapacitanceofcapacitorsonboththeinputandoutputsidesviasimulation.

ElectricalenergycharacteristicsrequiredbyGPUs

GPUsachievetheirhighcomputeperformancebyoperatingmultiplecomputeunitsandon-chipmemoryinparallel.Large-scaleAIGPUsoperatethesecircuitsathighactivityrates,whichmeanstheyrequirethesupplyofaveragecurrentofseveralthousandampsatlowvoltages.

Moreover,thecomputeunitsandmemoryrepeatedlyswitchbetweenactiveandidle

statesdependingonwhatprocessingtheyaredoing,resultinginaloadcurrentthatisnotconstant.Thecurrentincreasessharplywhenmultiplecircuitsstartcalculationsordatatransferatthesametime,andthenfallswhentheprocessingiscomplete.Asthese

changesoccuratintervalsmeasuredinnanoseconds,GPUPDNsrequiretheabilitytobothsupplypowercontinuouslyatwithahighaveragecurrentandtorespondtosuddenchangesinstep-load(largeΔI).

ElectricalenergysupplytoGPU

ThevoltageregulatorconstantlysupplieselectricalcurrenttotheGPUandadjuststheoutputaccordingtochangesinload.However,thecontrolcircuitryhasaresponsetime,anditcannotchangethecurrentflowingthroughtheoutputinductorofthevoltage

regulatorinstantly.Becauseofthis,capacitorsplacedclosetotheGPUareusedto

supplythemissingcurrentimmediatelyfollowingasharpincreaseinload,whileintheinterimthevoltageregulatorincreasesthesupplycurrentandthentakesovertheload.

Whentheloaddeclines,thecapacitorsabsorbthesparecurrent(inachargecycle)tocurbanyincreaseinvoltage.

RoleofinductorsandcapacitorsinPDNs

Capacitorshelpreducevoltagefluctuationsbyabsorbingorreleasingtheload,while

inductorspreventsharpfluctuationsincurrentflow.Step-downvoltageregulatorssmoothoutthecurrentusinginductors,buttheircharacteristicslimitthetake-offofcurrentwhentheloadrisessharply.Capacitorscanmakeuptheshortfalluntilthevoltageregulator

outputcancatchupwiththeload.

Targetimpedancesetduringpowersupplydesignstage

DesigningaGPUpowersupplyrequiresmaintainingsupplyvoltagewithinatolerable

rangeeveniftheloadcurrentvaries.Here,impedance(measuredinohms)isthequantitythatexpresseshowmuchthevoltagefluctuatesinresponsetochangesincurrent,and

voltagefluctuationisdeterminedaschangeincurrentmultipliedbyimpedance.Thetargetimpedanceisdefinedasthetolerablefluctuationinvoltagedividedbythemaximum

fluctuationinloadcurrent,andthebasisofthedesignistokeeptheimpedanceofthePDNasawholebelowthislevel.Thegreaterthefluctuationsinloadcurrent,thelowertheimpedancerequiredtokeepvoltagewithinthesamerange.Therearetwowaysto

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Nomura|AIdatacenterpowersupplymarket【价值目录Otbr2：026

reduceimpedance.Thefirstistoincreasecapacitance,butbecausethecapacitors

themselvesandtheconnectingwiringhaveinductance,thereisnoreductionin

impedanceevenifcapacitance(versusrapidchangesincurrent)isincreasedinthehighfrequencydomain,meaninglimitedimpact.Theotheristoreduceinductanceofthe

pathwayscarryingpower(so-calledloopinductance).

ReducingvoltagebelowbasevaluecancauseGPUinstability

IftheimpedanceofthePDNexceedsthetargetlevel,itcancauseadeclineinvoltage(knownasvoltagedroop)beyondacceptablelimitswhentheloadincreasessharply.AnexcessivedeclineinvoltagecoulddestabilizetheoperationoftheGPU,causinglowercomputeperformance,calculationerrors,oroperationalhalts,whichmakeskeeping

voltagedroopandPDNimpedancewithinthetolerablerangeacrosstherelevantfrequencybandsacrucialpartofPDNdesign.

Diagramofloopinductanceinlateralpowerdelivery

Figure2showsadiagramofthecurrentloopsandcapacitorplacementinGPUpowersuppliesthatuselateralpowerdelivery.WhentheGPUloadincreases,currentis

suppliedtotheGPUnotonlyfromvoltageregulatorsbutalsofromcapacitorsonthe

boardandlocatedclosetotheGPU.Here,thecurrentflowsonthesupplysidefromthecapacitorstotheGPUandthenbacktothecapacitorsviathegroundside.Inother

words,thecurrentformsaclosedloopwithanoutwardpathandareturnpath.Loop

inductanceisthendefinedasthetotalinductanceofallthewiring,vias,powersupplies,groundplanes,andotherpartsoftheloop.Thegreatertheloopinductance,thelongerittakesforcurrenttorise,causingbiggervoltageswingsattheGPUterminal.

Fig.2:CurrentloopinGPUPDNusinglateralpowerdeliveryvoltageregulators

Source:Nomura

Capacitorplacementneedstomatchtimewindow

ThecloseracapacitoristotheGPU,theshorterthecurrentpath,and,generally

speaking,thelowertheinductanceislikelytobe.Bycontrast,thecurrentpathfrom

voltageregulatorsandcapacitorsplacedatsomedistanceawayonthePCBislonger,whichmeansagreaterimpactfromwiringresistanceandloopinductance.ThismeansthatcapacitorsnotonlyhavetohavetherightamountofenergystoredbuthavetobeplacedinalocationwheretheycandeliverthatenergytotheGPUwhenrequired.ItisparticularlyimportantinAIGPUstoensureshortoutwardandreturnpathsbyplacingcapacitorswithinthepackageorontheboardbacksidedirectlybelowtheGPU.

Capacitorandvoltageregulatorplacementbytimewindow

Figure3showswherecapacitorsandvoltageregulatorsarepositionedinGPUPDNsandthemaintimewindowswheretheyareused.Currentisprimarilysuppliedbyon-die

capacitanceinthefirst10nsorsoimmediatelyafterasurgeinload,andthenbyMIMandsiliconcapacitorswithinthepackageorMLCCs(DSCsandLSCs)inthefollowing10–

100ns.Overthenextfewmicroseconds,theMLCCslocateddirectlybeneaththeGPUmakeupfortheshortfalluntilthesupplycurrentfromthevoltageregulatorscancatchupwiththeload,atwhichpointthevoltageregulatorstakeovercurrentsupplyforthe

subsequenttimewindows.Thesetimewindowsarenotclearlyseparated,andmultiplecapacitorsandvoltageregulatorsareusedsimultaneouslytosupplycurrent.ThetimewindowspercomponentshowninFigure3arebasedontheresultsofthesimulationinthefollowingchapter,andshouldnotbeviewedasgeneralizationsastheyarelikelytochangedependingonpowersupplydesignconditions.

Nomura|AIdatacenterpowersupplymarket【价值目录Otbr2：026

7

Fig.3:Timewindowsandlocationsforcapacitorsandvoltageregulators(Currentcontributionsbasedonsimulationresults)

■□□□□

Verysmall(ondie)

■□□□□

Verysmall(lessthan1pH)

■■□□□

Small(upto10pH)

■■□□□

Small(lessthan1pH)

■■■□□

Small-medium(upto10pH)

■■■□□

Medium(10–100pH)■■■■□

Large(upto1nH,throughvoltageregulatorpath)

■■■■■

Large(nHlevel)

■■■■■

Maximum(path:upto1.2nH+outputinductance)

■■■■□

Large(path:upto0.4nH+outputinductance)

■■■□□

Medium(path-0.05nH,high-speedcontrol)

Localsupplytomakeupforinitialcurrentshortfall

High-frequencydecouplingofshortestpackagepath,distributedplacementrequiredbecauseoflimitedeffectivenessofindividualcapacitors

Primarilyfortransientresponseoflessthan100ns(largely

interchangeablewithDSCs),strengthslienotonlyinareaefficiencybutalsospacesavingsfromembedding,verylowESL,andnoDCbiasdegradation

PackageMLCCsclosetodie(overlapsinfunctionwithsiliconcapsinIVRconfigurations,MLCCshavebettercapacitancepermountingareathansiliconcaps)

PackageMLCCsatmoredistancefromdie

PrimarymediumbufferdirectlybelowGPU

Assistsinslowareasfromvoltageregulatorside(charging/dischargingonvoltageregulatoroutputside)

Littleroleinsupplyingnetchargetoloadtransients,roleisforchargeexchangeandsmoothingonvoltageregulatorside

ContinuoussupplyofloadcurrentfromPCBnearGPU(TLVRboostmakesupforlowKp/Ki,ensuringeffectiveresponsespeed)

ContinuoussupplyofloadcurrentfromPCBbelowGPUforshortloop

Continuoussupplyofloadcurrentfromwithinpackageneardieforultra-shortloop,developmentfocusingonphaseinductorswith

dramaticallyreducedL/ESR(1/10L,1/4ESRvslateral)and

multiphaseminiaturizationviacoupledTLVRtokeepupwithrisingGPUcurrenttransients

Placement

Ondie(transistor/wiringlayers)

Thin-filmcapacitorsonpackagesubstrate

Inpackage,closetoIVRoutput

MLCCsontopofpackage(die-side)

MLCCsonbottomofpackage(land-side)

PCBbackside,belowGPU

PCBtopside,nearGPU

Voltageregulatoroutputside(SP-Capsetc)

PCBtopside,nexttoGPU

PCBbackside,belowGPU

Inpackage,closetodie

regulators

On-diecapacitance

MIM

Siliconcapacitors

DSC

LSC

MLCCsbelowGPU

PeripheralMLCCs

Voltageregulatoroutputpolymercapacitors

(by

Lateralpowerdeliveryvoltageregulators

Verticalpowerdeliveryvoltageregulators

Integratedvoltageregulators(IVRs)

inductance(relative)

1

1

2

2

3

3

4

5

5

4

3

UltrahighspeedMedium(1µs)Slow(10µs)

0–1ns1–3ns3–10ns10–30ns30–100ns0.1–0.3µs0.3–1µs1–3µs3–10µs10–30µs

PlacementOndie

In

(benchmark)

Notes(role)

Note:(1)Currentcontributioniscalculatedasthenetchargesuppliedbyeachsourceineachtimewindowdividedbythetotalchargesuppliedwithinthatwindow.(2)Wefilteroutcapacitorswithcurrentcontributionsbelowaminimumthreshold(defaultof10%)toexcludethosewithsmallcapacitanceandthusmakenomaterialcontributionduringlongtimewindows(forexample,on-diecapacitancethatcanoutputcurrentin1µsbuthasacurrentcontributionoflessthan1%).

Source:Nomura

2.PDNsimulationmodel

ExaminingconstraintsinPDNdesignforRubin-equivalentvirtualprocessor

InthischapterwebuildaPDNsimulationmodelforvirtualprocessorswiththesame

electricalcharacteristicsasNvidia'sBlackwellandRubinprocessors,andusethisto

analyzetheimpactofhigher