A weekly newsletter on the business of data center cooling. Land acquisitions. Partnerships. Energy efficiency. Commercial readiness across liquid cooling, immersion cooling, and hybrid architectures. The decisions being made today determine who wins the next decade of infrastructure.
Read by thermal engineers, operators, and investors tracking the buildout.
— From the editor's brief
Campus announcements, land acquisitions, facility expansions for liquid-ready and immersion-ready data centers. Loudoun land trades above $4M an acre. Secondary markets are surging 20 to 40 percent year over year.
M&A, funding rounds, OEM agreements, supplier partnerships across the thermal stack. Eaton bought Boyd for $9.5B. Schneider bought Motivair. $2.7B of cooling funding closed in 2025 alone.
Product launches, competitive positioning, standards shifts from OCP and ASHRAE, and the technology bets in liquid and hybrid cooling that separate the winners from everyone else.
Data centers consume up to five million gallons a day. States are moving on reporting mandates. The EU is setting minimum efficiency standards. Operators are scrambling to adapt.
Waste heat is becoming a revenue stream. Germany mandates reuse by 2026. Stockholm already heats 30,000 apartments from data center exhaust. The economics are inverting.
CDU lead times. Component sourcing bottlenecks. Manufacturing capacity constraints. The signals that determine whether a project hits its timeline or slips a quarter.
AI racks now routinely hit 85 kilowatts per cabinet. Next-gen builds are targeting 200 to 250. Air cooling tops out around 40. Liquid is no longer optional, and hybrid architectures are becoming the standard for commercial readiness at scale. Hundreds of billions in capital are flowing in. The Cooling Report tracks the decisions, one Monday at a time.
The legacy air-cooled fleet is a problem that compounds every quarter. The workforce gap is real. The current pace of adoption is too slow. The cooling buildout is happening with or without you. The only question is whether you have the intel to operate inside it.
— Filed under: things vendors won't tell you
The Cooling Report is independent reporting written for the engineers, operators, investors, and policymakers making capital and commissioning decisions inside the largest infrastructure transition since rural electrification. The voice assumes the reader has touched a manifold, watched a CDU come up, and read at least one PUE report they did not believe. Four kinds of readers, roughly. Below.
Track competitive launches in liquid and immersion cooling, M&A activity, and where the consolidation is heading. Know which OEMs are expanding liquid-ready and hybrid capacity before your competitors do.
Land deals, facility builds, and the thermal decisions shaping new campuses. Know which markets are surging for AI-driven cooling, which are priced out, and where the capital is flowing next.
Billions in infrastructure capital are targeting liquid and immersion. Understand the M&A pipeline, land valuations, startup activity, and commercial readiness signals across the thermal stack.
Water mandates are tightening across states and the EU. Heat reuse and efficiency requirements are going into effect. Stay ahead of the regulations reshaping data center thermal design.
Tech giants alone are projected to spend six hundred billion dollars on hyperscale data centers in 2026. The cooling buildout is happening now. Don't watch it from the outside.
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