Nvidia just unexpectedly tanked these stocks, and here's why

Group 1: Market Reaction - Shares of Modine Manufacturing Co. experienced a significant decline, dropping as much as 21% before closing about 7.5% lower [1] - Other companies in the water-cooled systems sector, including Johnson Controls International PLC, Trane Technologies PLC, and Carrier Global Corp., also saw declines of up to 6.2% [1] Group 2: Technological Developments - Nvidia announced a new generation of computer chips that will not require traditional cooling systems, which is expected to impact the demand for water-cooled systems [2] - The new Rubin platform will feature "extreme codesign" that integrates chips, trays, racks, and more, as stated by Nvidia's CEO Jensen Huang [2] Group 3: Industry Innovations - Nvidia's introduction of a 100% liquid-cooled system is described as a breakthrough, which has raised concerns among investors regarding the future relevance of chillers in data centers [3]