Liquid Cooling Industry Momentum Driven by AI Computing Platform Development

Since August 25, 2026, A-share listed companies focused on liquid cooling including Invicool, Haigang Co., Ltd. and Tongfei Co., Ltd. have witnessed sharp stock price increases. Market participants are exploring the core reasons behind rising capital interest toward liquid-cooling-related stocks. This market upswing originated from Invicool’s performance announcement released on August 25, 2026. The firm reported half-year revenue of 3.017 billion RMB, representing a 17.24 percent year-on-year increase, while its Q2 net profit surged 1934 percent quarter-on-quarter. Its stock hit daily trading limit right after market opening, triggering broad rallies across liquid-cooling concept stocks. As a professional data center manifold manufacturer within the industrial chain, Invicool also draws wide market attention for its component layout alongside financial performance changes.

Despite limited year-over-year profit growth and revenue expansion without matching profit improvement, the market focuses heavily on its sharp Q2 performance recovery. Invicool recorded a 14.32 percent year-on-year drop in half-year net profit attributable to parent shareholders. Nevertheless, thousands of liquid cooling pump orders have been accumulated from multiple end-user clients, with more than 20 key projects approaching mass delivery. Liquid cooling pumps serve as leading indicators for CDU and liquid-cooling system shipments, signaling that the whole industrial chain is stepping into performance realization. Institutional analysts expect preliminary performance delivery for liquid cooling in Q3. Critical hardware such as stainless steel liquid cooling manifold will see growing order volume as project roll-outs accelerate across AI data center sites.

Such market sentiment is backed by powerful underlying industry trends. Power consumption of global AI computing chips keeps climbing and gradually exceeds the thermal dissipation limits of air-cooling solutions. NVIDIA’s upcoming Rubin platform is the world’s first AI computing platform adopting 100 percent liquid-cooled architecture and completely abandoning traditional air cooling. Huge market growth potential is projected. CITIC Securities forecasts the global AIDC server liquid cooling market will reach 21.8 billion USD in 2027 and 50.5 billion USD by 2030. TrendForce research indicates liquid cooling penetration among AI chips will jump from 33 percent in 2025 to 53 percent in 2026. This round of market rally stems from dual drivers of turning-point performance signals and confirmed industry trends, rather than pure thematic speculation. Key components including liquid cooling CDU manifold constitute critical hardware supporting large-scale Rubin platform deployment.

Against this backdrop, market observers analyze which A-share listed enterprises will benefit most from the upcoming mass production of NVIDIA Rubin platform with full 100 percent liquid-cooled design. The Rubin industrial chain can be broken down into system integration and thermal control, core liquid-cooling components including manifold and cold plates, pumps and fluid equipment, plus pipelines and connecting fittings. In system integration and thermal control segment, Invicool stands out as the major beneficiary. It is the only mainland Chinese liquid cooling service provider holding NVIDIA NPN Tier 1 qualification, building full-chain capabilities covering cold plates, quick connectors, manifold, CDU and complete liquid-cooled racks. Its outstanding order book valued at roughly 8-9 billion RMB mainly comes from overseas key clients such as NVIDIA and Google. Peer competitors include Shenling Environment, Gaolan Co., Ltd., Shuguang Digital-Innovation and Binglun Environment. Binglun Environment delivered solid performance with 18 percent Q1 revenue growth and 25 percent net profit increase. As a qualified GPU cooling manifold supplier, multiple domestic enterprises are stepping into high-value links of Rubin’s supply chain.

When it comes to core liquid-cooling component suppliers, Luxshare-Precision and Qiangrui Technology hold leading positions for manifold products. LiminDa, controlled subsidiary of Luxshare-Precision, is the sole mainland Chinese vendor within NVIDIA Vera Rubin manifold ecosystem, supplying UQD / MQD quick connectors and inner manifold assemblies deeply integrated into Rubin’s full liquid-cooling circulation loop. Qiangrui Technology’s inner manifold central distribution components are deployed inside Rubin servers with rapidly expanding order volume, and the company plans private placement fundraising up to 1.05 billion RMB for production capacity expansion. Boway Alloy and Stonechips Technology take leading roles for cold plate and material solutions. These manifold products can also cooperate with thermal control hardware built around manifold for rear door heat exchanger to satisfy diversified data-center renovation demands besides brand-new AI server projects.

For pumps, valves and fluid equipment segments, CDU accounts for 3040 percent of total liquid-cooling system value, and pumps represent CDU’s core components. Dayuan Pump and Feilong Co., Ltd. maintain prominent competitiveness in this field. In pipeline and connection accessory segments, Rubin platform follows “no cable, no flexible hose, no onboard fan” design philosophy, and stainless steel corrugated pipes become the standard for fluid transportation. Wuyang Auto-control, Chuanhuan Technology and Jinfu Technology are entering this track via acquisition and corporate restructuring. All these fluid-handling parts work cooperatively within a complete rack manifold liquid cooling system to guarantee stable fluid delivery for high-power-density AI racks.

To sum up, Invicool occupies the core position as the only mainland Chinese enterprise with NVIDIA Tier 1 qualification. Luxshare-Precision via its subsidiary LiminDa enjoys unique supplier status within manifold supply chain for Rubin. Qiangrui Technology, Boway Alloy, Dayuan Pump and Chuanhuan Technology maintain deep engagement with Rubin supply chain within their respective niche sectors. The Rubin platform is scheduled for mass production and shipment in autumn 2026. Before formal volume roll-out, this sector may draw repeated capital attention from investors. Every assembly node places high reliability requirements on hardware such as GPU rack liquid cooling manifold to avoid leakage and thermal imbalance inside high-density AI computing cabinets.

Growing AI power density continuously pushes data-center operators toward comprehensive liquid-cooling transformation. Component suppliers covering manifold, cold plate, pump and pipeline are ushering in new business opportunities brought by next-generation AI hardware. Market participants should distinguish genuine industrial-driven growth from pure short-term speculation. Proper selection and verification of data center coolant distribution system manifold will remain critical for stable long-term operation of Rubin-based liquid-cooled AI data-center infrastructure.

To meet such rigorous real-world requirements, you need a trusted supplier delivering fully-validated, end-to-end liquid cooling hardware. Looking for a complete liquid cooling setup? EXTRCOOL has you covered—CDUs, cold plates, manifolds, and all pipework included. Choose from our standard line or let us engineer a custom solution for your site. Our cutting-edge cooling pulls out more heat, uses less power, and slashes emissions. Backed by gigawatt-scale experience in data centres globally, our systems keep running non-stop, without a hitch. Explore our range or ask for a tailored quote today: https://www.extrcool.com/