Summary of Liquid Cooling Industry Conference Call Industry Overview - The liquid cooling industry is evolving with significant attention on NVIDIA's GB300 and the upcoming LOBIN structure, transitioning from traditional air cooling to advanced cooling solutions like microchannel cooling plates (MLCP) and bidirectional energy boards [1][2][6] Key Trends and Technologies - **Bidirectional Energy Boards**: Expected to become mainstream by 2026, currently facing design complexity and material selection challenges. R134 and 1,233ZD are the main candidates for refrigerants, each with pros and cons [1][4][3] - **Microchannel Cooling Plates (MLCP)**: Aiming to enhance cooling efficiency by integrating the cooling plate directly with chip packaging, though costs are significantly higher (3 to 7 times traditional plates) [7][6] - **Refrigerant Selection**: The industry is cautious about the transition to new refrigerants, with R134A likely to coexist with newer options due to its maturity and cost-effectiveness [2][13] Future Directions - **Integration of Technologies**: Companies are exploring the combination of bidirectional energy boards with silent cooling methods to address GPU cooling challenges [5][6] - **Material Innovations**: New materials such as quick connectors, CDU, and stainless steel hoses are expected to enhance overall system performance [8][6] - **Economic and Environmental Considerations**: The choice of immersion cooling fluids will focus on cost, performance, and environmental impact, with options like silicone oil and perfluoropolyether (PFPE) being prominent [9][10] Challenges and Considerations - **Design and Implementation**: The complexity of bidirectional energy board design and the need for better sealing and pressure tolerance in the phase change process are significant challenges [4][6] - **Market Dynamics**: The partnership between Dow and Intel has seen slow progress due to pricing mechanisms and responsibility allocation issues, impacting the adoption of silicone oil in data centers [11][9] Emerging Materials - **Liquid Metal**: Offers excellent thermal conductivity but is still in early experimental stages due to high costs and oxidation issues [14][15] - **New Tri-block Materials**: Recent advancements in tri-block materials have improved stability and reduced volatility, making them viable for semiconductor temperature control [17][16] Market Outlook - **Cost Trends**: The cost of K-type PFPE is expected to decrease below 300 RMB per kilogram in the long term, while Y-type PFPE remains high due to supply chain constraints [18][19] - **GWP Concerns**: The high Global Warming Potential (GWP) of PFPE remains a challenge, with no effective methods currently available to significantly reduce it [19][10] This summary encapsulates the key points discussed in the conference call regarding the liquid cooling industry, highlighting trends, challenges, and future directions.