Alpha and Omega Semiconductor Ltd (AOSL) is poised to become a new GB200 supplier and one of the leading beneficiaries of Nvidia’s certification process change

1. $NVIDIA(NVDA.US)$ CEO Jensen Huang recently stated that the company aims to release a new version of its flagship AI chip annually. While this strategy enhances Nvidia’s competitiveness, it presents execution challenges, most notably the need to accelerate the supplier certification process while simultaneously accelerating system development.
2. My latest survey indicates that Nvidia has begun to integrate the product line procurement and certification of various AI systems to speed up the supplier certification process. For suppliers who have obtained HGX/DGX H100 certification, the GB200 certification process can be simplified, and the entry into GB200 supply can be accelerated.
3. $Alpha & Omega Semiconductor(AOSL.US)$ is currently a supplier of MOSFETs and power ICs for HGX/DGX H100. Due to Nvidia’s changes in the supplier certification process, AOSL is expected to become a new GB200 supplier and start shipments by the end of this year, gaining market share of high-ASP GB200 orders from suppliers like Renesas and MPS.
4. Due to Nvidia’s certification process change, more companies are likely to accelerate their status as GB200 suppliers, making this a new investment focus worthy of attention in 2H24.