人工智慧互联的转折点：物理层面的生态系统转型与价值创造。

生成式人工智慧的快速发展正迫使资料中心基础架构进行前所未有的架构改造。随着系统瓶颈从计算处理转向“I/O障碍”，物理层从铜缆到光纤的过渡正在加速。

本报告探讨了博通和Marvell之间的战略分歧——前者侧重于渐进式优势，后者则致力于架构转型——并检验了224G SerDes的普及和超以太网联盟（UEC）的崛起如何重塑行业标准。此外，报告还分析了台湾供应链如何从传统的製造角色转型为下一代系统的关键促进者和设计者。

主要亮点

• 资本转移－网路扮演门户角色。
  • 生成式人工智慧正在重新评估资料中心的资本支出 (CapEx) 优先顺序。如果没有网路升级，昂贵的 GPU 运算资源更有可能沦为「搁浅资产」。
• I/O限制－不是架构限制，而是物理限制。
  • 人工智慧系统正面临关键的 I/O 效能障碍，因此从铜互连到光连接模组的商业化转型至关重要。
• 建筑的十字路口－演进与毁灭
  • 博通试图透过渐进式演进来保持其横向扩展优势，而 Marvell 则押注于光电的横向扩展，以突破记忆体瓶颈。这两种愿景对于人工智慧丛集的未来发展方向截然不同。
• 开放标准－重新平衡定价权
  • 224G SerDes 和 UEC主导的乙太网路正在打破单一供应商锁定，恢復云端服务供应商的定价权和供应链柔软性。
• 台湾——从製造业到系统利用
  • 在日益加剧的地缘经济压力下，台湾的供应链正向上游工程转移，转向协同系统设计与先进封装。这为隐藏平台的基础技术奠定了基础，从而实现了结构性利润率的提升。

目录

第一章：流量模式的变化重塑网路架构与标准，UEC 的出现对 InfiniBand 的主导地位构成挑战

第二章：半导体巨头的不同策略：博通力保其主导地位，而Marvell则大胆押注于以记忆体为中心的革命

第三章：物理限制迫使硬体重置：台湾的供应链从製造转向系统实施。

第四章：TRI的观点

The exponential growth of generative AI is forcing data center infrastructure into an unprecedented architectural overhaul. As system bottlenecks shift away from compute and toward the "I/O wall," the physical layer is accelerating its migration from copper to optics.

This report examines the strategic divergence between Broadcom and Marvell-one favoring evolutionary dominance, the other pursuing architectural disruption-and explores how the convergence of 224G SerDes and the rise of the Ultra Ethernet Consortium (UEC) are reshaping industry standards. It further analyzes how Taiwan's supply chain is emerging from traditional manufacturing roles to become a key enabler and architect of next-generation system design.

Key Highlights

• Capital Shift - Network Becomes the Gating Factor
  • Generative AI is reshaping data center CapEx priorities: without network upgrades, expensive GPU compute increasingly risks becoming stranded assets.
• I/O Wall - A Physical, Not Architectural, Constraint
  • AI system performance has hit a definitive I/O Wall, forcing a non-optional transition from copper to optical interconnects at commercial scale.
• Architectural Divide - Evolution vs. Disruption
  • Broadcom defends scale-out dominance through incremental evolution, while Marvell bets on scale-up photonics to break the memory wall-two incompatible visions of future AI clusters.
• Open Standards - Pricing Power Rebalancing
  • 224G SerDes and UEC-driven Ethernet are dismantling single-vendor lock-in, restoring pricing leverage and supply-chain flexibility to cloud service providers.
• Taiwan - From Manufacturing to System Leverage
  • Amid rising geoeconomic pressure, Taiwan's supply chain is moving upstream into system co-design and advanced packaging, enabling structural margin expansion as hidden platform enablers.

Table of Contents

1. Traffic pattern shifts are reshaping network architectures and standards as UEC emerges as a challenger to InfiniBand's Monopoly

• Table 1: AI Data Center Network Comparison: Front-End vs. Back-End
• Figure 1: Ethernet vs. InfiniBand Market Size Forecast, 2023-2028

2. Diverging strategies among chip giants: Broadcom defends its dominance, Marvell bets boldly on a memory-centric revolution

• Figure 2: Broadcom & Marvell Roadmap

3. Physical limits force a hardware reset: Taiwan's supply chain moves from manufacturing to system enablement

• Figure 3: The Evolutionary Roadmap of Interconnect Technology

4. TRI's View