该消息令芯源系统股价周一盘中一度大跌近25%，创2005年以来最大盘中跌幅。Previously, Edgewater Research pointed out issues with the products of Core Source Systems, which could lead to losing the opportunity to supply parts to nvidia's Blackwell graphics cards, resulting in a significant stock price drop of nearly 25%. However, analyst Mosesmann from Rosenblatt believes there are no issues with the products, and if there were, nvidia would notify the company. Although Core Source Systems may have a reduced share in Blackwell chips, it will still be a major supplier, likely maintaining a large market share, leading to a narrowing of the decline in stock price.
On Monday morning, November 11th, Eastern Time, investment firm Edgewater Research issued a notice to investors, $Monolithic Power Systems (MPWR.US)$ (abbreviated as MPWR, monolithic power systems) regarding potential issues with the voltage regulator modules/power management chips produced for NVIDIA's Blackwell chips, which may result in the company being unable to supply NVIDIA's Blackwell graphics cards, potentially losing a significant portion or even the entire market share.
They believe Renesas may take over the B200 project, while Infineon may take over the GB200 project, as both companies have been receiving urgent orders in recent weeks. Edgewater Research also stated that they heard nvidia canceled all unconfirmed orders from the core source system.
This news caused the core source system's stock price to plummet nearly 25% intraday on Monday, marking the largest intraday drop since 2005.
Subsequently, analyst Hans Mosesmann from csi all share investment banking & Rosenblatt came forward to defend the core source system. He stated that on the contrary, the management of the core source system is not aware of any technical issues with their products. If there are any "non-conforming" situations, logically, nvidia should inform the core source system.
In his report to clients, Mosesmann mentioned that compared to the Hopper chip, the core source system may sell fewer units in this wave of nvidia's Blackwell chips, as nvidia wants to source from multiple suppliers rather than just one. Although it is currently unknown how much market share the core source system can capture in Blackwell chips, he believes the core source system is still a major supplier and is more likely to gain more market share relative to other competitors.
Editor/Somer
