Overview
- Google’s Taiwan-based procurement delegation held in-person meetings in March with Shenzhen-based Envicool and planned talks with at least one other supplier, according to reports citing unnamed sources.
- Envicool showcased a coolant distribution unit built to Google specifications, and a Goldman Sachs note said the company expects sequential liquid-cooling revenue growth with potential Google orders under discussion.
- JPMorgan projects the AI server liquid-cooling market to more than double from $8.9 billion in 2025 to over $17 billion in 2026, underscoring tight supply for critical components.
- U.S. export controls that curb advanced chip sales to China generally do not cover cooling hardware, keeping procurement options open but introducing geopolitical and supply-chain risks.
- Envicool is expanding production with a new factory planned in Guangdong and developments in Thailand and the United States, while GOOGL shares edged higher on the procurement reports.