千亿液冷元年已至，看好国产供应链加速入局

Group 1 - Liquid cooling technology is essential for addressing the heat dissipation pressure in data centers, offering advantages such as low energy consumption, high heat dissipation, low noise, and low total cost of ownership (TCO) [1][2] - The value of liquid cooling systems is expected to grow significantly alongside chip upgrades, with a projected increase of over 20% for rack liquid cooling modules in GB300-GB200 servers [1][2] - The market for ASIC liquid cooling systems is estimated to reach 35.3 billion yuan by 2026, while the market for NVIDIA liquid cooling systems is projected to reach 69.7 billion yuan [1][2] Group 2 - The domestic supply chain is accelerating its entry into the liquid cooling market, with NVIDIA opening its supplier list to allow more flexibility in supply chain composition [2] - The Rubin architecture requires new liquid cooling solutions due to its high thermal design power (TDP) of 2300W, necessitating alternatives to single-phase cooling plates [2] - Two viable solutions for the Rubin architecture include phase change cooling plates and microchannel plates, with the latter likely becoming the preferred option as power requirements increase [2] Group 3 - The demand for AI server computing power is rapidly increasing, driving the penetration rate of liquid cooling solutions, and leading to an explosive demand for efficient and energy-saving heat exchange solutions in data centers [3] - Companies to watch in this sector include Yingweike, Shenling Environment, Gaolan Co., Hongsheng Co., Zhongke Shuguang, and Jieban Technology [3]