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Nvidia Claims Vera Rubin Can Skip Chillers as HVAC Stocks Fall

Analysts see unclear timing and magnitude for any shift in data‑center cooling demand.

Overview

  • CEO Jensen Huang said Vera Rubin GPUs run on roughly 45°C water with no water chillers necessary for data centers.
  • Johnson Controls fell about 7.5% and Trane dropped roughly 5.3%, with Carrier lower and Modine down more than 7% after the remarks.
  • Nvidia said the next‑generation platform is in full production with customer availability targeted for the second half of 2026.
  • Barclays and Baird flagged potential longer‑term risk to chiller demand, while Citi argued the sell‑off looks overdone because Rubin still requires liquid cooling.
  • Analysts highlighted nVent and Vertiv as potential beneficiaries given positions in liquid cooling and precision power and cooling equipment.