2025년 서버 비즈니스 성장 및 향후 전망

### 서버 비즈니스의 강력한 성장과 전략적 움직임
* 📈 서버 비즈니스는 전통적인 CPU와 AI 기술 모두에서 강력한 수요에 힘입어 빠른 성장을 지속하고 있으며, **35억 달러가 넘는 수주잔고**를 보유하며 시장 모멘텀을 보여주고 있습니다.
* 💻 하이브리드 클라우드 비즈니스도 뛰어난 성과를 거두어 **현재 백로그의 몇 배에 달하는 엔터프라이즈 AI 파이프라인의 상당한 증가**를 보여주었습니다.
* 🌊 블랙웰과 함께 수냉식 기술로 전환하면서 **수주 잔고의 3분의 1 이상**이 이미 이 새로운 아키텍처에 기인하고 있으며, **2025년까지 지속적인 성장을 견인**할 것으로 예상됩니다.
* 🏗 수요는 크게 네 가지 부문에 걸쳐 있습니다: **쇼핑몰 빌더, 하이퍼스케일러, 티어 2 및 티어 3 서비스 제공업체, 그리고 빠르게 성장하는 국영 부문**으로, 다양한 시장의 관심을 반영하고 있습니다.
* 🚚 특히 블랙웰의 경우 공급망 문제가 지적되고 있지만, **2025년 초에 생산량을 늘리면서 출하량이 수요에 맞춰질 것**으로 확신하고 있습니다.
* 💰 4분기에는 **12억 달러의 신규 주문**이 예약되었지만, 관련 리스크에 대한 우려로 구체적인 주문은 기록되지 않아 안정적인 고객 관계에 집중하고 있음을 강조했습니다.
* 🛡 주니퍼 네트웍스 인수는 **2025년 초에 완료될 것으로 예상**되며, 전 세계적으로 강력한 지지를 받고 있어 경쟁력이 강화되고 특히 **중국 기업과의 국제 경쟁력이 향상**될 것으로 보입니다.
* 🌍 휴렛팩커드 엔터프라이즈는 현재 **상위 10대 시스템 중 7대**를 보유하며 슈퍼컴퓨터 시장을 선도하고 있으며, 미래 성장과 국가 안보 이익을 위해 전략적으로 입지를 다지고 있습니다.

서버 비즈니스는 35억 달러의 수주잔고와 혁신적인 수냉식 기술을 바탕으로 강력한 수요에 힘입어 번창하고 있습니다.

What's interesting about the server business was that it's still growing fast, but as it's called sequentially, are you feeling confident about the purchases here?
Well, good morning, Carol, and thank you for having me today. We have an exceptional quarter and

obviously one of the flagship elements of that quarter was. But I have to say it was model and it was also our hybrid cloud business performing exceptionally well and the server business in general because ultimately we have growth both on the traditional CPU and obviously on the AI side, but

the demand continues to be very, very strong. You know, as of today we have more than three and a half billion dollars in backlog that shows the momentum that's there in the market. Now we are seeing a significant uptick in the pipeline in enterprise AI.

But in total, we have a pipeline that's a multiple of the backlog. So as we go into 2025, obviously there is a transition to the liquid-cooled set of technologies with Blackwell and Grace Blackwell. And as you know, two months ago we announced a new architecture, which is

100% fanless direct liquid cooling, an industry first, and more than one-third of that three and a half billion dollar backlog is already on Blackwell. So we expect continued growth as we go into '25. How are those backlog shipments

looking?
How certain? Well, definitely is. It's all very consistent with what we have seen. The number of customers continues to grow. The demand across different segments continues to be very solid. You know, when I think about they are

You think about four distinct segments. I call them the Mall Builders and the Hyperscalers. Then the Tier two, Tier three service providers, and the sovereign sector, which is growing very rapidly in terms of interest and sales cycle. So, a little bit longer there.

But are you talking about large-scale deployment? We are in the process of building in the UK, the Bristol Cloud, and in Japan. Then there's the enterprise sector, which obviously has significantly lower order values, but

the number of transactions is significantly higher. But the supply side has been the issue, with Blackwell in particular. How swiftly are those shipments arriving? How on track do you now feel it is?
Yeah, I will say, you know, the supply

will come in due time because of the transition that Jensen and his team are driving. I wouldn't say it's problematic. It's just a transition in the early part of 2025. Today we continue to ship, you know, hundreds in H1 and hundreds in H2.

But as I said earlier, we already have more than one-third of that—more than three and a half million dollars—already in Blackwell. And a lot of that has to do with companies that lead with that technology because they want to get better

performance, better image density, and ultimately lower the cost for training. Your articulation of the breadth of demand coming from that, mentioning sovereign as well as enterprise, for example, was really interesting. How resilient is that demand? What's interesting about your backlog,

which you say is very resilient and strong, but there was a $700 million deal booking. How confident are you in some of these purchases, in some of these deals that have been signed? Yeah. So in our current, more than three and a

half billion dollars, we are very, very confident. In Q4, we booked $1.2 billion of new orders, and we decided not to book a specific order because we had specific concerns about the risk associated with that order. And we have very, very strong controls

in place. And we felt that because of the risk associated with even the financing side, we felt this was not worth the headache. And honestly, we decided to focus on the number of growing customers we have and allocate the supply to the right customers.

So that's why we decided not to book that specific order. Caroline: You're also doing deals, of course, we are hearing conference calls on the Juniper Networks acquisition for early 2025. Is that just going to sail through DOJ,

do you expect, with the next administration? Yeah. Well, first of all, we have received pretty much all the approvals around the world with, you know, what I call unconditional support. Basically, it tells you that the rest of the world sees this as pro-competitive.

And with the DOJ, we have had a very collaborative process throughout the last several months and we expect the transaction to close in the early part of 2025, which is still within the original timelines we stated when I announced the deal on January 10th.

2024 or the early part of calendar year 2025.
And so if nothing changes, that will not be the case.
And then in addition, for the United States, this is good not just
pro-competitively, but also for U.S.

national security, because ultimately
the combination of Juniper and HP provides a better ability for us to
compete outside the United States, particularly with Chinese
competitors around the globe. And remember that for the United States,
we provide the largest supercomputers

in the world. We also provide AI, and that
requires a lot of networking. And today, Hewlett Packard Enterprise
owns seven of the top ten supercomputers; number one, number two,
and number three are HP systems.

HPE CEO Neri on AI Sales Boost

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강력한 서버 비즈니스 성장 및 백로그

서버 비즈니스는 특히 AI 분야에서 빠르게 성장하고 있습니다.

강력한 하이브리드 클라우드 및 서버 성능에 힘입은 뛰어난 분기였습니다.

엔터프라이즈 AI 파이프라인이 크게 증가하면서 백로그가 35억 달러 이상 증가했습니다.

2025년에 수냉식 기술(블랙웰 및 그레이스 블랙웰)로 전환합니다.

백로그의 3분의 1 이상이 이미 블랙웰에서 처리되고 있습니다.

하이퍼스케일러, 티어 2/3 서비스 제공업체, 국가 부문, 엔터프라이즈 등 네 가지 시장 부문이 있습니다.

소버린 부문은 빠른 성장세를 보이고 있습니다.

기업 부문은 거래량은 많지만 주문 금액이 낮습니다.

특히 블랙웰 배송과 관련된 공급 측면 문제.

블랙웰로의 전환은 현재 진행 중이지만 문제가 없는 것으로 간주됩니다.

블랙웰 기술을 선도하는 기업들은 더 나은 성과와 낮은 교육 비용을 추구합니다.

35억 달러 이상의 백로그에 대한 높은 신뢰도.

4분기에 12억 달러의 신규 주문이 예약되었습니다.

위험에 대한 우려와 신뢰할 수 있는 고객에게 물량을 할당하는 데 집중하기 위해 한 건의 주문은 예약되지 않았습니다.

주니퍼 네트웍스 인수 및 법무부 승인

주니퍼 네트웍스 인수는 2025년 초에 완료될 것으로 예상됩니다.

대부분의 글로벌 승인을 받았으며 경쟁력이 있는 것으로 간주됩니다.

법무부와 협력하여 원래 일정 내에 종결될 것으로 예상합니다.

글로벌 경쟁력 강화로 미국 국가 안보에 도움이 되는 인수입니다.

HP는 전 세계 상위 10대 슈퍼컴퓨터 중 7대를 보유하고 있습니다.