H200, 2024년 하반기부터 AI 서버 시장 장악 예정(2024.09.03)

2024.09.03

DRAMeXchange - 【Market View】NVIDIA’s Data Center Business Fuels Explosive Growth in FY2Q25 Revenue; H200 Set to Dominate AI Server Market from 2H24, Says TrendForce

NVIDIA’s Data Center Business Fuels Explosive Growth in FY2Q25 Revenue; H200 Set to Dominate AI Server Market from 2H24, Says TrendForce

 

NVIDIA의 데이터 센터 사업이 FY2Q25 매출 폭발적 성장을 견인; H200, 2024년 하반기부터 AI 서버 시장 장악 예정, TrendForce 발표

 

TrendForce’s latest findings show that NVIDIA’s data center business is driving a remarkable surge in the company’s revenue, which more than doubled in the second quarter of its 2025 fiscal year to reach an impressive US$30 billion. This growth is largely fueled by skyrocketing demand for NVIDIA’s core Hopper GPU products. Supply chain surveys indicate that recent demand from CSP and OEM customers for the H200 GPU is on the rise, and this GPU is expected to become NVIDIA’s primary shipment driver from the third quarter of 2024 onward.

 

TrendForce의 최신 보고서에 따르면, NVIDIA의 데이터 센터 사업이 회사 매출의 급격한 성장을 이끌고 있으며, 2025 회계연도 2분기 매출은 300억 달러를 넘어섰습니다. 이러한 성장은 NVIDIA의 핵심 제품인 Hopper GPU에 대한 수요 급증에 크게 기인하고 있습니다. 공급망 조사에 따르면 최근 클라우드 서비스 제공자(CSP) 및 OEM 고객들로부터 H200 GPU에 대한 수요가 증가하고 있으며, 이 GPU는 2024년 3분기부터 NVIDIA의 주요 출하 제품이 될 것으로 예상됩니다.

 

NVIDIA’s financial report reveals that its data center business revenue in FY2Q25 grew by 154% YoY, outpacing other segments and raising its contribution to total revenue to nearly 88%. TrendForce estimates that nearly 90% of NVIDIA’s GPU product line in 2024 will be based on the Hopper platform. This includes the H100, H200, a customized H20 version for Chinese customers, and the GH200 solution integrated with NVIDIA’s Grace CPU, which targets specific AI applications in the HPC market. 

 

NVIDIA의 재무 보고서에 따르면, 2025 회계연도 2분기 데이터 센터 사업 매출이 전년 대비 154% 성장하며 다른 부문을 능가하였고, 총 매출에서의 기여도는 거의 88%에 이르렀습니다. TrendForce는 2024년 NVIDIA의 GPU 제품 라인의 거의 90%가 Hopper 플랫폼을 기반으로 할 것으로 예상하고 있습니다. 여기에는 H100, H200, 중국 고객을 위한 맞춤형 H20 버전, 그리고 HPC 시장에서 특정 AI 애플리케이션을 겨냥한 NVIDIA의 Grace CPU와 통합된 GH200 솔루션이 포함됩니다. 

 

Starting from Q3 this year, NVIDIA is expected to maintain a no-price-cut strategy for the H100. Once customers complete their existing orders, the H100 will naturally phase out, and the H200 will take over as the main product supplied to the market.

 

NVIDIA는 올해 3분기부터 H100에 대한 가격 인하 정책을 유지하지 않을 것으로 예상되며, 고객들이 기존 주문을 완료하면 H100은 자연스럽게 단종되고 H200이 시장에 공급되는 주요 제품으로 자리잡을 것입니다.

 

In China, demand for AI servers equipped with the H20 GPU has significantly increased since 2Q24, driven by cloud customers building LLMs, search engines, or chatbots locally. 

 

중국에서는 클라우드 고객들이 현지에서 대형 언어 모델(LLM), 검색 엔진 또는 챗봇을 구축함에 따라, 2024년 2분기부터 H20 GPU가 장착된 AI 서버에 대한 수요가 크게 증가했습니다.

 

Looking ahead, TrendForce predicts that the rising demand for H200-powered AI servers will help NVIDIA navigate potential supply challenges if the rollout of its new Blackwell platform experiences delays due to supply chain adjustments. This steady demand is expected to keep NVIDIA’s data center revenue strong in the latter half of 2024.

 

앞으로 TrendForce는 H200 기반 AI 서버에 대한 수요 증가가 NVIDIA가 새로운 Blackwell 플랫폼의 출시가 공급망 조정으로 인해 지연될 경우 발생할 수 있는 공급 문제를 극복하는 데 도움이 될 것이라고 예측하고 있습니다. 이러한 꾸준한 수요는 2024년 하반기에도 NVIDIA의 데이터 센터 매출을 견고하게 유지시킬 것으로 예상됩니다.

 

Additionally, the Blackwell platform is expected to ramp up production in 2025. With a die size twice that of the Hopper platform, the Blackwell platform is set to boost demand for CoWoS packaging solutions once it becomes mainstream next year. TrendForce reports that CoWoS’s main supplier, TSMC, has recently boosted its monthly capacity planning to nearly 70–80K units—nearly double that of 2024—with NVIDIA poised to take up more than half of this capacity. 

 

또한 Blackwell 플랫폼은 2025년에 생산을 본격화할 것으로 기대됩니다. Hopper 플랫폼의 두 배 크기의 다이(die) 크기를 갖춘 Blackwell 플랫폼은 내년에 주류가 되면 CoWoS 패키징 솔루션에 대한 수요를 크게 증가시킬 전망입니다. TrendForce는 CoWoS의 주요 공급업체인 TSMC가 최근 월간 생산 능력을 거의 두 배로 늘려 70-80K 유닛에 이를 것으로 보고 있으며, NVIDIA는 이 생산 능력의 절반 이상을 차지할 것으로 예상됩니다.

 

HBM3e suppliers seize opportunity with NVIDIA’s product rollout

HBM3e 공급업체들, NVIDIA 제품 출시와 함께 기회 포착

 

NVIDIA’s product lineup this year is set to make waves, with the H200 being the first GPU to feature HBM3e 8-Hi memory stacks. The upcoming Blackwell chips are also slated to fully adopt HBM3e. Meanwhile, Micron and SK hynix completed their HBM3e qualification in 1Q24 and began mass shipments in Q2. Micron is primarily supplying HBM3e for the H200, while SK hynix is catering to both the H200 and B100 series. Although Samsung was a bit late to the game, it has recently completed its HBM3e qualification and begun shipping HBM3e 8Hi for the H200, with qualification for the Blackwell series well underway.

 

 

올해 NVIDIA의 제품 라인업은 큰 주목을 받고 있으며, H200이 HBM3e 8-Hi 메모리 스택을 탑재한 첫 번째 GPU로 출시될 예정입니다. 또한, 향후 출시될 Blackwell 칩들도 HBM3e를 전면적으로 채택할 계획입니다. 한편, 마이크론(Micron)과 SK하이닉스는 2024년 1분기에 HBM3e 인증을 완료하고 2분기부터 대량 출하를 시작했습니다. 마이크론은 주로 H200에 HBM3e를 공급하고 있으며, SK하이닉스는 H200과 B100 시리즈 모두에 제품을 공급하고 있습니다. 비록 삼성은 약간 늦게 시작했지만, 최근 HBM3e 인증을 완료하고 H200을 위한 HBM3e 8-Hi 메모리 출하를 시작했으며, Blackwell 시리즈에 대한 인증도 진행 중입니다.