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CITIC Securities: 2026 could be turning point for liquid cooling industry orders and revenue
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According to a research report from CITIC Securities published on September 24 via Jin10 Data, the AI computing power sector has officially entered an 'all-liquid cooling' era, with liquid cooling upgrading from an 'optional configuration' to 'rigid infrastructure.' The report states that major platforms, led by Nvidia's Rubin, Google's TPU v7/v8, AMD's Helios, and ByteDance's AI Rack 3.0, are collectively transitioning from 'high-proportion liquid cooling/air-liquid hybrid' to 100% all-liquid cooling, zero-fan architectures. Combined with tight overseas local production capacity, the overseas expansion of domestic manufacturers, and the centralized implementation of national standards, CITIC Securities forecasts that 2026 is likely to become a turning point for the concentrated fulfillment of orders and performance in the liquid cooling industry chain.
Source report
September 24 (Jin10 Data) — According to a research report from CITIC Securities, AI computing has officially entered the "all-liquid cooling" era, with liquid cooling upgrading from an "optional configuration" to a "rigid infrastructure."
Key highlights from the report include:
- Mainstream platforms transitioning to full liquid cooling: Led by NVIDIA's Rubin, major platforms such as Google's TPU v7/v8, AMD's Helios, and ByteDance's AI Rack 3.0 have collectively shifted from "high-ratio liquid cooling / air-liquid hybrid" to 100% all-liquid cooling with zero-fan architectures.
- Multiple catalysts converging: The shift is driven by a combination of tight overseas production capacity, the acceleration of domestic manufacturers' overseas expansion, and the centralized rollout of national standards.
- 2026 as a pivotal year: The report identifies 2026 as a potential turning point for the liquid cooling supply chain, when orders and earnings are expected to be realized in a concentrated manner.
Source
金十数据Neutral / independent