Google visits China to purchase equipment! The liquid cooling industry chain is experiencing an upturn, and institutions are closely watching these concept stocks. List: (

With the explosion of AIGC, the heat flux density of high-power chips has increased significantly. Traditional air cooling approaches are approaching physical limits. Some believe that liquid cooling is shifting from an “efficiency enhancement option” to a “necessity” for sustainable development of AI data centers.

Report: Google Visits China to Inspect Liquid Cooling Equipment

According to media reports citing foreign sources, insiders revealed that Alphabet’s Google is in talks with InnoVek and other Chinese companies about purchasing data center liquid cooling equipment. Previously, a Google procurement team visited China.

Liquid cooling systems circulate water or other coolants on or around equipment surfaces to dissipate heat. They have become critical in AI data centers because the heat generated by high-density computing exceeds the capacity of traditional air cooling systems.

Sources say that Google’s visit to China this month reflects a tight supply of system components.

During the visit, Google’s team met with InnoVek. An independent source also indicated that the team plans to meet with at least one more company. The influence of Chinese suppliers in the global data center development process continues to grow.

Analysis suggests that Google’s visit highlights that AI technology development depends not only on high-end chips but also on a series of other essential equipment supplies. It further demonstrates the important role of Chinese suppliers in this industry chain.

AIGC Drives Growth in Liquid Cooling Market

Besides Google, NVIDIA, a major computing power leader, also recognizes the benefits of liquid cooling solutions. The NVIDIA Hopper chip cooling solution uses liquid-cooled cold plates (MCCP) / air cooling. The Blackwell chip cooling solution features the GB300 chip with an all-liquid cooling independent cold plate.

At the NVIDIA GTC 2026 conference held on March 17, a fully liquid-cooled Rubin cabinet was showcased. Jensen Huang emphasized that all rack structures use liquid cooling, further strengthening the demand certainty for liquid cooling.

Dongwu Securities’ latest research report states that with server architecture upgrades and increased power density, 100% liquid cooling is becoming a necessity. Currently, both NV chain and ASIC chain are actively preparing liquid cooling supply systems, optimistic about domestic liquid cooling suppliers leveraging cost advantages and compatibility to penetrate North American clients.

China Galaxy Securities suggests three main investment opportunities in liquid cooling: first, capitalize on NVIDIA’s Blackwell GB300 chip, next-generation Vera Rubin chip, and high-power smartphones; second, invest in high-power data centers adopting liquid cooling; third, explore opportunities in liquid cooling for new energy vehicle batteries and energy storage.

Multiple Concept Stocks Attract Institutional Research

According to Eastmoney’s concept sector data, over 100 A-share stocks are involved in the liquid cooling concept, with a total market value exceeding 5.2 trillion yuan. Industrial Fulian, Midea Group, and Luxshare Precision are the top three by size, while Lens Technology, Lingyi iTech, and Top Group each have market values over 100 billion yuan.

Since the beginning of this year, the performance of liquid cooling concept stocks has been somewhat mixed, with over half showing stock price increases. Sanan Optoelectronics, Jiechuang Intelligent, and Wangsu Technology lead the gains, with five stocks, including Far East Shares and Shenling Environment, rising over 50%.

In terms of institutional attention, Eastmoney’s Choice data shows that in the past month, 13 liquid cooling concept stocks received institutional research. Notably, Eurotech and Litong Technology attracted 80 and 53 institutions respectively, while Weili, Yinlun Shares, and Lingyi iTech each received over 10 institutional visits.

Eurotech stated during a recent institutional exchange that it has launched core products including 3,200W Titanium M-CRPS server power supplies, immersion liquid-cooled server power supplies, and rack-mounted Power Shelves, with leading R&D technology and products.

Litong Technology revealed during an institutional survey that its data center liquid cooling hoses are nearly finalized. The company is currently promoting through sample testing and industry exhibitions, but has not yet secured large orders.

Lingyi iTech’s subsidiary, Liminda, a provider of comprehensive server hardware solutions centered on thermal management products, showcased its Vera Rubin NVL72 Tray Inner Manifold, UQD/MQD, and other supporting liquid cooling products at the NVIDIA GTC 2026 conference.