The explosion of AI computing power has ignited the BBU market. Global shipments of approximately 276 million chips are expected in the first half of 2026.

Since 2026, global intelligent computing power has entered an exponential expansion period. Major cloud providers (Microsoft, Amazon, Google, Meta, Oracle, etc.) have significantly increased their investment in AI infrastructure.

The huge demand for computing power is driving the power consumption of cabinets to shift from "10KW" to "600KW or even MW level". Taking NVIDIA's latest flagship product as an example, the design power consumption of its Rubin Ultra NVL576 cabinet has soared to 660 kilowatts, which is over five times higher than that of the Blackwell era and over 20 times higher than that of the Hopper era. The Feynman era will also enter the megawatt level. Meanwhile, the power consumption of cabinet-level BBU has also changed from optional to standard, driving a sharp increase in the demand for upstream battery cells. In the first half of 2026, global BBU battery cell shipments were approximately 276 million units.

In 2026, the sales of BBU battery cells from Panasonic and Samsung SDI grew strongly, both experiencing a shortage of BBU battery cell production capacity and a situation of insufficient supply. Panasonic plans to increase production and adjust its automotive production lines to triple the BBU battery output to the current level by 2028; Samsung SDI confirmed a supply contract of approximately 2 trillion won with Xinpuzhi Technology in July. Additionally, several domestic enterprises such as Xingwangda, Zhongbi New Energy, Haidida, and Hengduandongzhi have announced active layout of BBU-related battery cell products; Yibinliulian, Xinan'an, and Kehua Data have achieved sample delivery; Yuanyanliulian has achieved batch production of battery cells in 2026.

From the perspective of the competitive landscape, currently, the global BBU battery cell market is dominated by Panasonic and Samsung, with a combined share of approximately 77%. Among them, Panasonic holds about 40% of the global market share. In the first half of 2026, Samsung SDI's BBU battery cell shipments exceeded 100 million units, and its market share rose to 37%. Chinese enterprises are currently moving at a slower pace in the BBU battery cell sector. Currently, Yalong Lithium Battery leads the way. In the first half of 2026, its global market share was approximately 7.3%. In the second half of the year, with the batch delivery to Moli Cell and the expansion of direct supply, its market share is expected to increase to 10% in the full year.

From the perspective of supply methods, most Japanese manufacturers (Panasonic, Murata) do not sell individual battery cells alone, but tend to adopt an integrated approach of self-supplying cells and self-developing modules. Samsung SDI and Chinese manufacturers both directly supply battery cells. Currently, in the traditional 18/21 cell supply market, their market share is significantly ahead of domestic enterprises. However, in the future era of all-pole-ear batteries, China's all-pole-ear production lines will be launched simultaneously with overseas manufacturers, and domestic enterprises will have higher iteration efficiency and faster expansion capabilities. In the future, when all-pole-ear batteries are applied in BBU (Baseband Unit) applications, they are expected to capture more market share.

However, in 2026, the restrictions on the use of "Made in China" batteries by the United States in various industries and the uncertainty of its policies will have an adverse impact on Chinese enterprises. Under this background, enterprises with overseas production capacity layouts will be more conducive to entering the supply chains of American customers in the future.