TrendForce underscores that the primary momentum for server shipments this year remains with American CSPs. However, due to persistently high inflation and elevated corporate financing costs curtailing capital expenditures, overall demand has not yet returned to pre-pandemic growth levels. Global server shipments are estimated to reach approximately. 13.654 million units in 2024, an increase of about 2.05% YoY. Meanwhile, the market continues to focus on the deployment of AI servers, with their shipment share estimated at around 12.1%.

Foxconn is expected to see the highest growth rate, with an estimated annual increase of about 5-7%. This growth includes significant orders such as Dell's 16G platform, AWS Graviton 3 and 4, Google Genoa, and Microsoft Gen9. In terms of AI server orders, Foxconn has made notable inroads with Oracle and has also secured some AWS ASIC orders.Inventec is projected to have the second-highest growth rate, with an estimated annual increase of about 0-3%. While OEM orders are on a declining trend this year, CSP orders are supported by AWS Graviton 3 and 4, as well as Google Milan and Genoa orders, with Google Bergamo expected to start deployment in the second half of the year. In addition to demand from North American CSPs, strong demand from Chinese customers like ByteDance is anticipated. Inventec's AI server shipments are expected to grow at a double-digit rate this year, accounting for about 10-15% of its total shipments.

Quanta Computer and Supermicro are expected to see their server shipments growth rates remain flat year-over-year. Quanta faces several uncertainties, the most significant of which include a substantial reduction in general-purpose server orders from Meta in the first half of the year and a decrease in demand for Intel platforms from Google, which has shifted its focus to AMD. Quanta is expected to perform better in AI server shipments this year, mainly due to orders from North American cloud customers like Microsoft and AWS, with AI server shipment growth rates also reaching double digits.

Supermicro is focusing on AI server growth this year, with the potential to double its shipments in this segment. However, the lack of a significant rebound in general-purpose server shipments means that overall levels are likely to remain stable. Supermicro's high-end AI servers, including models like HGX, mainly serve second-tier data centers in Europe and the US, such as CoreWeave and Tesla. The company is also aggressively expanding its efforts to secure AI orders from clients including Apple and Meta.

Overall, AI server shipments from ODMs are expected to be robust in 2024—primarily driven by orders from North American cloud data centers—with both the growth rate and market share of AI servers expected to reach double digits. However, growth for Chinese clients is likely to face constraints due to US restrictions. Servers equipped with advanced AI training chips, like NVIDIA's H series or AMD's MI series, are particularly expected to see significant shipment increases.