Murata's PDN Solution: Pointing the Way for the Future of SaaS When analyzing Murata's production, the market focuses on MLCC market share, BaTiO3 powder, ultra-thin dielectric layer technology, and 100 μ F level high-end products. But Murata is actually quietly doing another big thing: building a PDN (Power Delivery Network) software and hardware integrated solution around MLCC. In the case where the power consumption of a single GPU on platforms such as NVIDIA GB200 and GB300 has exceeded 1000W, one of the core challenges in AI server design has shifted from computing power itself to Power Integrity, and the core of Power Integrity is PDN design. Traditionally, MLCC manufacturers are responsible for providing components, while customers are responsible for design. But today Murata not only provides MLCC, but also PDN simulation models, S-parameter databases, SPICE models, power network analysis, component layout optimization, and system level design support. The customer is no longer purchasing a capacitor, but a complete set of validated power supply solutions. For each MLCC, Murata provides not only capacity and withstand voltage parameters, but also ESR, ESL, impedance curve, self resonant frequency, temperature characteristics, DC Bias characteristics, and high-frequency behavior model. Engineers can directly import EDA tools such as Cadence, Ansys, Keysight for simulation, and predict the behavior of the entire power supply system before PCB manufacturing. This means that a large number of problems can be solved during the design phase, rather than waiting until the prototype phase. With the continuous increase of AI server power, power supply noise has entered the GHz frequency band. Traditional parameters are no longer able to accurately describe component behavior, and S-parameters have become the core tool for high-frequency design. Murata's long-term accumulation of S-parameter database enables customers to directly obtain the performance of real devices at different frequencies without the need for re measurement and modeling. For many customers, the value of these databases even exceeds that of the components themselves. Furthermore, Murata began to participate in the entire Power Integrity design process. For example, how much does the voltage drop when the GPU current instantly increases from 200A to 1000A; Which locations require the addition of MLCC; Which locations have been over designed; How to reduce impedance peak value; How to optimize transient response. These are no longer issues at the component level, but rather at the system level. Murata is actually helping clients complete the entire PDN design. Component layout optimization is also an important component of the PDN solution. Many times, increasing the number of capacitors does not solve the problem, layout is actually more important. Due to parasitic inductance, the effect of placing 100 MLCCs in different positions may vary several times. Therefore, truly excellent PDN design is more about optimizing layout. Murata's extensive design experience accumulated over the long term can help clients find the optimal solution. Murata is undergoing a transformation from "component digitization" to "PDN design support" and is evolving towards a "system level Power Integrity platform". Its most important assets are not only manufacturing capabilities, but also hundreds of thousands of device digital models, decades of parameter databases, AI server PDN experience libraries, and customer project design knowledge bases. These assets together constitute a new competitive barrier. The greatest value brought by this model is the extremely strong customer stickiness. In the past, the customer purchased capacitors, but today the customer is purchasing a validated PDN architecture. If an AI server has already completed simulation validation, EMC certification, thermal design validation, and reliability testing based on the Murata model, changing suppliers will mean re simulation, re board, re testing, and re certification. Even if the specifications of alternative products are similar, it may still affect the overall performance of PDN due to changes in ESR, ESL, impedance curve, or resonant frequency. Therefore, what the customer ultimately locks in is not MLCC, but the entire power supply design system. This is also the most valuable aspect of Murata's PDN solution. Many companies sell products, and Murata is selling "design certainty"; Many companies sell components, and Murata is selling "validation results"; Many companies sell hardware, and Murata is selling a "verified Power Integrity platform". More importantly, Murata's PDN solution may reveal the true direction of SaaS development in the future. In the past, software companies relied on code and functionality to build moats, while AI is constantly reducing the value of code. But it cannot reduce the value of real-world data. The PDN solution developed by Murata has physical barriers in the manufacturing industry, workflow barriers in the EDA industry, and a data flywheel in the data platform. As the power consumption of AI servers continues to increase, the importance of Power Integrity will only become higher, and Murata's accumulated PDN database, design experience, and verification system will become increasingly difficult to replicate. This may be the most core and easily underestimated competitive advantage of Murata Production in the era of AI data centers: the SaaS form that will be the most difficult to be replaced by AI in the future. Disclaimer: I hold the assets mentioned in the article, and my views are biased and not investment advice, dyor