Nvidia(US:NVDA)2025-09-18 14:41Summary of Liquid Cooling Industry Conference Call Industry Overview - The liquid cooling industry is currently focused on two main technology routes: cold plate liquid cooling and silent liquid cooling. The future direction is expected to shift towards two-phase cooling systems, particularly for high-performance GPUs and high thermal density chips like Blackwell and future Verrobbin models [1][2][3]. Key Points Current Technology and Future Trends - Single-phase cold plate liquid cooling is currently the strongest solution for high-performance GPU cooling but faces limitations as chip power density increases. Two-phase cooling is anticipated to become the future standard, especially for chips with high thermal design power (TDP) [1][2]. - NVIDIA's GB200 and GB300 series are expected to continue using single-phase cooling until 2026, while the Ruby series, with a TDP of 2,300 watts, will likely require two-phase cooling using fluorinated working fluids to achieve effective gas-liquid separation and natural liquefaction [1][4]. Working Fluid Requirements - Two-phase cooling systems will utilize environmentally friendly fluorinated working fluids that are easy to vaporize and have low toxicity. These fluids must naturally liquefy at temperatures between 33-35 degrees Celsius without mechanical compression [5][6]. Market Development and Commercialization - Currently, there are no commercially available two-phase cold plate liquid cooling solutions. Although NVIDIA and Vertiv have collaborated on developing this technology, large-scale commercial applications have not yet been realized. Domestic companies like Hangyuan and major internet firms are conducting related technology developments, but these projects are often confidential and limited to rack-level testing [7][8]. Application in Data Centers - Two-phase cooling technology has significant potential in high-power density applications, such as cryptocurrency mining, supercomputing, and telecommunications networks. In AI data centers, a combination of two-phase and silent cooling methods may be employed to manage heat effectively [8][9][10]. Differences in Cooling Methods - Silent liquid cooling is suitable for removing large amounts of heat at the rack level but is not effective for chip-level high thermal density cooling. In contrast, two-phase silent cooling can directly contact chips for heat exchange, making it more efficient for high-performance applications [9][10]. Future Cooling Combinations - Future AI data centers may adopt various cooling combinations, including full two-phase silent cooling or a mix of different cooling methods. For instance, a rack with a peak power of 370 kW could utilize full two-phase silent cooling, while higher power demands would require a combination of cooling strategies [10][11]. Liquid Cooling Technology Characteristics - Liquid cooling is effective in high-power, low-current scenarios due to its reliance on heat transfer principles, which depend on contact area and convection intensity. Cold plate liquid cooling focuses on micro-level heat dissipation, while silent liquid cooling addresses macro-level heat management [11][12][13]. Development of Composite Liquid Cooling - The future of composite liquid cooling technology will involve integrating silent and two-phase cooling to meet varying thermal management needs. This approach aims to optimize overall system cooling efficiency while addressing high power density requirements [14][15]. Industry Trends and Material Development - The development of two-phase working fluids is becoming a trend, with manufacturers actively researching new mixtures to enhance performance. Current efforts focus on creating environmentally friendly and economically viable alternatives to traditional refrigerants [16][22]. Challenges and Considerations - The liquid cooling technology's high cost limits its adoption to scenarios with sufficient power density and thermal flow density. For example, the CPS solution requires a cabinet to reach 370 kW before liquid cooling becomes necessary [26]. Conclusion - The liquid cooling industry is at a pivotal point, with significant advancements expected in two-phase cooling technologies and their applications in high-performance computing environments. The ongoing development of suitable working fluids and the exploration of innovative cooling combinations will shape the future landscape of thermal management solutions in data centers and beyond [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][22][26].