Asia Pacific Equity Research 18 August 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Global Machinery Powering data centers from US to China, expert call takeaways and global read-throughs The booming data center investment globally is creating signif ...