随着华盛顿和北京争夺人工智能霸主地位,，美国对中国数据中心供电关键零部件的依赖正受到越来越多的审查，这增加了人工智能建设成本上升和供应链短缺的可能性。
American reliance on China for key components used to power data centers is coming under increasing scrutiny as Washington and Beijing battle for AI supremacy, raising the prospect of higher costs and worsening supply chain shortages for the AI buildout.
美国超大规模企业正在竞相为 AI, 建设价值数十亿美元的数据中心，而中国公司提供了开发这些设施所需的大部分零部件。其中包括变压器, 开关设备, 电池和光学技术, 分析师告诉 CNBC。
U.S. hyperscalers are racing to build multibillion-dollar data centers for AI, and Chinese firms supply large portions of the parts needed to develop these facilities. These include transformers, switchgear, batteries and optical tech, analysts told CNBC.
唐纳德·特朗普总统上周签署了一项行政命令，宣布国家进入紧急状态，以应对美国面临的"非同寻常的外国威胁"，涉及国外生产的大容量电力系统设备。该命令授权能源部禁止涉及电网和数据中心使用的某些组件的某些交易或施加条件。
President Donald Trump signed an executive order last week declaring a national emergency around the "extraordinary foreign threat" to the U.S. involving bulk-power system equipment produced abroad. The order authorized the Energy Department to prohibit or impose conditions on certain transactions involving some components used in the grid and data centers.
随着中国人工智能模型变得更加先进并且其在全球范围内的采用不断增加，中美之间在人工智能方面的紧张关系不断加剧。虽然美国公司生产用于 AI, 的最先进芯片和硬件，但中国对数据中心供电技术的影响被认为是美国的战略弱点。
Tensions between the U.S. and China over AI have ratcheted up as Chinese AI models become more advanced and their adoption grows across the globe. While American companies produce the most advanced chips and hardware used for AI, Chinese influence on the tech used to power data centers is considered a strategic vulnerability for the U.S.
"对中国'在美国数据中心电源堆栈中的存在的审查仅在过去八个月左右的时间里才有所增加,，这与之前仅以计算堆栈为中心的焦点发生了转变," 经济学人集团, 的 Laveena Iyer, 高级分析师, 告诉 CNBC。
"Scrutiny over China的 presence in the U.S. data centre power stack has only risen over the past eight months or so, this is a shift from the previous focus that centred solely on the compute stack," Laveena Iyer, senior analyst at The Economist Group, told CNBC.
依赖关系
Dependencies
数据中心的电源堆栈对于保持设施以最短的停机时间运行至关重要。它包括变压器,，可将电网的高压电力转变为服务器和冷却设备所需的较低水平。开关设备是集中式系统，配有开关, 熔断器和断路器，并且需要电池作为备用电源。
The power stack in a data center is critical to keeping the facility running with minimal downtime. It includes transformers, which change high-voltage electricity from the grid to lower levels needed for servers and cooling equipment. Switchgear are centralized systems that feature switches, fuses and circuit breakers and batteries are needed for backup power.
"人工智能基础设施建设在一些关键领域越来越依赖中国进口," Ben Boucher, Wood Mackenzie, 供应链高级分析师, 告诉 CNBC。 "最引人注目的包括变电站变压器,，超大规模企业通常在现场使用变电站变压器来降低传输电压。"
"There are a few key areas that the AI infrastructure buildout is increasingly dependent on Chinese imports," Ben Boucher, senior analyst, supply chain for Wood Mackenzie, told CNBC. "The most notable ones include substation transformers, which hyperscalers typically have on site to step transmission voltage down."
"中期风险主要集中在电网连接器:变压器,开关设备,和电池," 约翰·霍普金斯大学, Yury Dvorkin, 副教授, 告诉 CNBC。
"The mid-term exposure is concentrated in grid connectors: transformers, switchgear, and batteries," Yury Dvorkin, associate professor at Johns Hopkins University, told CNBC.
他补充说，"中国'在某些变压器和开关设备类别中的份额接近30%,，占美国电池进口量的40%以上,"。 "我们的分析显示，上游还存在更深层次的暴露:铜,电工钢,和电池正极材料。"
"China的 share of certain transformer and switchgear categories runs near 30%, and it accounts for over 40% of U.S. battery imports," he added. "Our analysis shows that there is also a deeper exposure upstream: copper, electrical steel, and battery cathode materials."
光技术,利用光通过光纤电缆代替通过铜线的电信号来传输大量数据,，这也是中国占据主导地位的领域。
Optical technology, which uses light through fiber-optic cables instead of electrical signals through copper wires to transmit huge quantities of data, is also an area where China dominates.
根据研究公司 Counterpoint 的数据，中际旭创和新易盛等公司在全球数据中心光收发器收入, 中处于领先地位，其中中国企业合计约占全球单位供应量, 的三分之二。
Companies including Zhongji Innolight and Eoptolink lead global data center optical transceiver revenue, with Chinese firms collectively accounting for roughly two-thirds of global unit supply, according to research firm Counterpoint.
特朗普表示，作为总统决定的一部分，"变压器,输电线路和导体,变电站,高压断路器,电力控制电子设备"对国防"至关重要。
Trump said that "transformers, transmission lines and conductors, substations, high-voltage circuit breakers, power control electronics" were "essential to the national defense" in April as part of a Presidential Determination.
减少依赖
Reducing reliance
随着华盛顿快速开发人工智能所需的基础设施，它正在努力减少对中国供应商的依赖。
Washington is scrambling to reduce reliance on Chinese suppliers as it rapidly develops the infrastructure needed to power AI.
"自我的第一个任期以来,，外国供应大容量电力系统电力设备对美国的威胁变得更加严重,"，特朗普在与上周发布的行政命令相关的声明中表示。
"Since my first term, the threat to the United States regarding foreign supply of bulk-power system electric equipment has become even more acute," said Trump in a statement connected to the executive order published last week.
"先进制造业,数据中心,人工智能,和国防生产的快速增长增加了国家'对充足,可靠电力的依赖，并放大了大容量电力系统,"成功攻击或供应中断的后果。
"The rapid growth of advanced manufacturing, data centers, artificial intelligence, and defense production has increased the Nation的 dependence on abundant, reliable electricity and magnified the consequences of a successful attack or supply disruption on the bulk-power system," he added.
"我们反对过度延伸国家安全概念来打击外国企业,"中华民国英国大使馆发言人的告诉CNBC。 "希望有关国家为中国企业提供公平,公正、非歧视的营商环境。"
"We oppose overstretching the concept of national security to go after foreign enterprises," a spokesperson for the U.K. embassy of the People的 Republic of China told CNBC. "We hope relevant countries will provide a fair, just and non-discriminatory business environment for Chinese companies."
由于高密度人工智能工作负载，美国数据中心容量预计将从 2026 年 3 月的 62 吉瓦增长到 2030 年的 152 吉瓦, S&P Global 在 6 月表示。
U.S. data center capacity is forecast to grow from 62 GW in March 2026 to 152 GW by 2030 due to high-density AI workloads, S&P Global said in June.
"制造业回流对我们的国家和经济安全至关重要'一直是特朗普总统,的首要任务，白宫发言人告诉 CNBC，政府将继续提供强有力而灵活的减税,关税,和放松管制,"议程。 "关键行业 – 从钢铁到半导体再到汽车 – 的投资达数万亿美元 – 证明政府 的战略正在取得成效。"
"Reshoring manufacturing that的 critical to our national and economic security has been a top priority for President Trump, and the Administration continues to deliver with a robust and nimble agenda of tax cuts, tariffs, and deregulation," a White House spokesperson told CNBC. "Trillions in investments across key sectors – from steel to semiconductors to autos – prove that the Administration的 strategy is paying off."
日立能源于 2025 年 9 月宣布，将投资 2410 亿美元扩大美国关键电网基础设施的生产,，其中包括 244.57 亿美元用于新建大型电力变压器设施，以满足人工智能建设的需求。西门子能源公司2月份还表示，将投资2410亿美元在美国生产电网和燃气轮机设备，用于人工智能基础设施和数据中心扩建。
Hitachi Energy announced in September 2025 it would invest $1 billion to expand production of critical grid infrastructure in the U.S., including $457 million for a new large power transformer facility to meet demand from the AI buildout. Siemens Energy also said in February it would invest $1 billion in U.S. production for grid and gas turbine equipment for AI infrastructure and data center expansion.
外国生产的, 电源逆变器有助于连接 AI 设施, 的能源，已于 7 月添加到美国联邦通信委员会的 (FCC) 覆盖清单,，其中包含美国政府确定对国家安全构成不可接受风险的设备和服务。
Power inverters produced in foreign countries, which help connect energy sources for AI facilities, were added to the Federal Communications Commission的 (FCC) Covered List in July, which features equipment and services the U.S. government has determined pose an unacceptable risk to national security.
据报道，特朗普政府还正在起草一项禁令，禁止美国进口新型中国光收发器,，这种收发器允许数据通过数据中心之间的光纤电缆高速传输。监管电信行业, 的 FCC, 没有回应置评请求，白宫也没有回应该报告。
The Trump administration is also reportedly drafting a ban on U.S. imports of new Chinese optical transceivers, which allow data to travel at high speed over fiber optic cables between data centers. The FCC, which oversees the telecoms industry, did not respond to a request for comment and the White House did not address the report.
尽管对中国光学科技公司的任何限制都可能提振 Lumentum 和 Coherent — 等美国公司，这两家公司在 3 月份从 Nvidia 获得了 2420 亿美元的投资，— 分析师警告说，扩大制造规模以满足新需求可能会带来挑战。
While any restrictions on Chinese optical tech companies could boost U.S. firms like Lumentum and Coherent — both of which received $2 billion in investment each from Nvidia in March — analysts cautioned that scaling manufacturing to meet new demand could come with challenges.
"Coherent 和 Lumentum 等西方竞争对手拥有先进的光子设计,，但目前缺乏洁净室能力, 自动化封装基础设施, 和产量规模，无法在 12 至 24 个月内吸收旭创和新易盛的销量," Counterpoint 研究副总裁 Neil Shah, 在 8 月份的一份报告中表示。
"Western competitors like Coherent and Lumentum possess advanced photonic designs, but currently lack the cleanroom capacity, automated packaging infrastructure, and yield scale required to absorb Innolight and Eoptolink的 volume within a 12-to-24-month horizon," Neil Shah, VP research at Counterpoint said in an August report.
限制的影响
Fallout from restrictions
经济学人集团的 Iyer 表示，光收发器禁令意味着美国超大规模企业将不得不在本地寻找替代品,，这可能会推高成本,。
An optical transceiver ban would mean that U.S. hyperscalers will have to look for alternatives locally, potentially pushing up costs, said The Economist Group的 Iyer.
根据 Wood Mackenzie 的研究，预计到 2026 年，电力变压器和变电站的市场短缺量将分别为 15% 和 8%,，对使用中国制造的设备的限制将进一步加剧供应链挑战,。
Power transformers and substations are already in an estimated market shortage of 15% and 8%, respectively, in 2026, and restrictions on the use of units made in China are set to further exacerbate the supply chain challenges, according to Wood Mackenzie research.
"大部分影响将集中在数据中心，这些数据中心一直在使用中国设备以尽量缩短交货时间," Wood Mackenzie的 Boucher 在 8 月份的博客中表示。
"A bulk of the impacts will be centered around data centers who have been using Chinese units to minimize lead times," Wood Mackenzie的 Boucher said in a blog from August.
"100 MVA+ 领域的短缺已经最为严重,，而这正是数据中心一直转向中国制造商来管理交货时间的领域," 他补充道。
"The 100 MVA+ segment is where the shortage is already most acute, and it is precisely where data centers have been turning to Chinese manufacturers to manage lead times," he added.
但华盛顿减少电力体系对中国依赖的政治意愿正在增强, Iyer 补充道。 "美国政府似乎热衷于在中国技术完全嵌入其人工智能基础设施之前降低其人工智能基础设施的风险,，就像 5G 的推出一样，后来移除中国电信设备导致网络推出延迟和电信公司成本上升。"
But political will in Washington to reduce dependencies on China in the power stack is rising, Iyer added. "The U.S. administration appears keen to de-risk its AI infrastructure before Chinese tech is fully embedded in it, quite like the 5G rollout where removing Chinese telecoms gear later on led to network rollout delays and rising costs for telecoms companies."
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