Business intelligence for data center liquid cooling & thermal management
A weekly newsletter covering the business of data center cooling. Land acquisitions, partnerships, energy efficiency, and commercial readiness across liquid cooling, immersion cooling, and hybrid cooling technologies. The decisions being made today determine who wins the next decade of infrastructure.
Read by thermal engineers, operators, and investors tracking the cooling buildout.
Campus announcements, land acquisitions, facility expansions for liquid cooling and immersion cooling-ready data centers. Loudoun County land is trading above $4M/acre. Secondary markets are surging 20-40% YoY. We track every liquid-ready build.
M&A, funding rounds, OEM agreements, and supplier partnerships across the thermal management stack. Eaton bought Boyd for $9.5B. Schneider acquired Motivair. $2.7B in cooling-sector funding in 2025 alone.
Product launches, competitive positioning, standards shifts from OCP and ASHRAE, and the technology bets in liquid cooling and hybrid cooling that separate the winners from everyone else.
Data centers consume up to 5M gallons/day. States are moving on water reporting mandates, the EU is setting minimum energy efficiency standards, and operators are scrambling to adapt their thermal management strategies.
Waste heat is becoming a revenue stream. Germany mandates reuse by 2026. Stockholm already heats 30,000 apartments from data centers. Energy efficiency and sustainability are reshaping how AI-driven cooling infrastructure gets built.
CDU lead times, component sourcing bottlenecks, manufacturing capacity constraints. Who can deliver and who is backordered. The supply chain signals that determine whether a cooling project hits its timeline or slips a quarter.
Essential Guide
The complete technical and commercial map. Air cooling, liquid cooling, immersion, heat rejection, PFAS, warm-water architectures, water regulation, and every market number that matters. 13 sections. 31 sources.
Read the GuideAI racks now routinely hit 85kW per cabinet. Next-gen builds are targeting 200-250kW. Traditional air cooling tops out around 40kW. Liquid cooling is no longer optional, and hybrid cooling strategies combining air, liquid cooling, and immersion cooling are becoming the standard for commercial readiness at scale. Goldman Sachs projects 76% of AI servers will be liquid-cooled by 2026, up from 15% in 2024.
That means new land, new facilities, new partnerships, and hundreds of billions in capital flowing into thermal management infrastructure. Tech giants alone are projected to spend $600B on hyperscale data centers in 2026. The companies making energy efficiency and cooling decisions today are building infrastructure that runs for decades. The Cooling Report tracks those decisions.
Track competitive launches in liquid cooling and immersion cooling, M&A activity, and where the consolidation is heading. Know which OEMs are expanding liquid-ready and hybrid cooling capacity before your competitors do.
Land deals, facility builds, and the thermal management decisions shaping new campuses. Know which markets are surging for AI-driven cooling, which are priced out, and where the capital is flowing.
Billions in infrastructure capital are targeting liquid cooling and immersion cooling. Understand the M&A pipeline, land valuations, startup activity, and commercial readiness signals across the thermal management stack.
Water mandates are tightening across states and the EU. Heat reuse and energy efficiency requirements are going into effect. Stay ahead of the regulations reshaping data center thermal management and cooling design.
For investors, operators, and vendors who need deeper analysis than a newsletter can provide.
Due diligence support on cooling companies. Competitive positioning analysis. Market sizing and TAM modeling. Vendor landscape briefings for PE, VC, and infrastructure funds evaluating cooling investments.
Cooling vendor shortlist research. Technology comparison briefings (liquid vs. immersion vs. hybrid). Regional market analysis for site selection. Supply chain and lead time intelligence.
Competitive intelligence on what other vendors are launching, pricing, and pitching. Customer pipeline analysis. Market positioning workshops. Go-to-market strategy review for new cooling products.
Retainer and project-based engagements. advisory@thecoolingreport.com