AI电力系列报告（二）：AIDC温控稳步发展

Investment Rating - The report maintains a "Positive" investment rating for the power equipment and new energy industry [2]. Core Insights - The cooling system is a critical component of data centers, which are essential for data storage and interaction in the information age. High temperatures can lead to component failures, with over half of such failures attributed to heat. The report highlights the increasing power demands of AI and the resulting challenges in cooling systems [5][12][14][16]. - Liquid cooling technology is expected to gain a larger market share as it offers better efficiency compared to traditional air cooling methods. The report predicts that the global liquid cooling market share will rise from 8% in 2021 to 33% by 2028 [51]. - The report identifies key players in the liquid cooling industry, suggesting investment in companies like Invec, Highlan, and others that are positioned to benefit from the growth in AI-driven data centers [7]. Summary by Sections Market Overview - The liquid cooling market is poised for significant growth, driven by the increasing power density of data center racks and the limitations of traditional cooling methods. The report emphasizes the need for advanced cooling solutions as data center energy consumption continues to rise [12][19][22][25]. Technology Pathways - The report outlines three main liquid cooling technologies: cold plate, immersion, and spray cooling. Cold plate technology is currently the most mature, while immersion cooling shows significant potential for future development [56][59][61]. - Each technology has distinct characteristics and applications, with immersion cooling expected to become more widely adopted due to its superior performance in high-density environments [61][62]. Investment Recommendations - The report recommends focusing on companies involved in the liquid cooling supply chain, including those providing cooling solutions and power supply systems for data centers. Specific companies mentioned include Megmeet, Zhongheng Electric, and others [7][48].