Beyond Nvidia, power and cooling firms benefit from data-centre boom

Artificial-intelligence data centres need huge amounts of electricity and special equipment.

Nvidia makes the chips used in many AI systems, but other companies supply transformers, cooling systems and power equipment.

Demand for these products is rising as companies build more data centres around the world.

Transformers help change electricity into forms that servers and cooling systems can use.

Liquid cooling is becoming more popular because powerful AI chips create a lot of heat.

Companies are also developing solid-state transformers that could save energy.

However, connecting new centres to electricity grids can take much longer than building the facilities.

Investors are also worried about competition, expensive shares, construction delays and shortages of components.

This means many suppliers may benefit, but not all of them will become winners.