Cooling & Thermal AI Stocks
Cooling and thermal AI stocks supply the chillers, liquid cooling systems, HVAC, and thermal management that keep AI data centers inside operating temperature. AI racks run far hotter than traditional servers, pushing the industry toward liquid cooling and making thermal capacity a gating requirement for every new campus.
Market Cap
$332.99B
AI-Exposed Cap
$177.75B
24h Change
+1.13%
7d Change
-3.05%
Stocks
9
Market data as of the close on . Prices are end of day, not live.
# | Name | Price | 24h | 7d | Market Cap | Volume (24h) | 7d Chart |
|---|---|---|---|---|---|---|---|
| 1 | T TT | $429.11 | +1.37% | -3.03% | $101.95B | $902.1M | |
| 2 | J JCI | $143.28 | +1.57% | -1.87% | $86.79B | $777.9M | |
| 3 | C CARR | $53.88 | -0.94% | -6.23% | $44.75B | $1.1B | |
| 4 | V VRT | $249.39 | +3.27% | -2.96% | $35.20B | $2.0B | |
| 5 | D DOV | $187.42 | -0.96% | -0.86% | $25.24B | $432.6M | |
| 6 | M MAIR | $24.01 | +1.22% | -4.76% | $12.05B | $56.2M | |
| 7 | S SPXC | $181.77 | +1.15% | -5.24% | $10.65B | $259.6M | |
| 8 | M MOD | $188.72 | +2.09% | -0.31% | $10.02B | $252.8M | |
| 9 | A AAON | $76.76 | +0.43% | -3.81% | $6.33B | $114.5M |
Frequently asked questions
Why is liquid cooling an AI investing theme?
AI accelerator racks now draw so much power that air cooling cannot remove the heat economically. Direct-to-chip liquid cooling has moved from exotic to default in new AI builds, and the companies supplying cold plates, coolant distribution, and chillers are collecting a rising share of each data center's construction budget.
Are cooling companies pure plays on AI?
Mostly no: many also serve commercial HVAC, industrial, and traditional data center markets. What changed is mix: AI-driven orders are the growth engine, and several have reorganized around data center cooling. Per-stock AI Exposure Scores show how much of each business rides on the buildout.
New to the framework? The Start Here guide walks the whole buildout layer by layer, including where Cooling & Thermal fits.
Related reading
- What are AI infrastructure stocks? The 12 layers, explained · AI infrastructure stocks are the companies paid to build AI compute: chips, memory, networking, data centers, cooling and power. The 12 layers and the catch.