--- title: "AI data center power and liquid cooling demand surge! This \"NVIDIA chain\" giant's market value skyrockets, reaching a milestone of $100 billion" type: "News" locale: "en" url: "https://longbridge.com/en/news/276591906.md" description: "Delta Electronics Thailand Pcl has become the first company in Thailand with a market value exceeding $100 billion, benefiting from the U.S. Supreme Court's cancellation of tariffs and the wave of AI data center construction. The company's stock price rose by 10%, with an increase of over 49% year-to-date. Analysts expect net profit to grow by 25% by 2027, reaching $1 billion" datetime: "2026-02-23T11:18:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276591906.md) - [en](https://longbridge.com/en/news/276591906.md) - [zh-HK](https://longbridge.com/zh-HK/news/276591906.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/276591906.md) | [繁體中文](https://longbridge.com/zh-HK/news/276591906.md) # AI data center power and liquid cooling demand surge! This "NVIDIA chain" giant's market value skyrockets, reaching a milestone of $100 billion According to Zhitong Finance APP, after the U.S. Supreme Court ruled to overturn the Trump administration's IEEPA tariff policy, and with the unprecedented wave of AI data center construction led by tech giants like Google, Amazon, Meta, and Microsoft driving a significant expansion in demand for core power equipment and AI liquid cooling management equipment, Delta Electronics Thailand Pcl, a leader in AI data center power infrastructure services and liquid cooling equipment, has become the first publicly listed company in the Thai stock market to reach a market capitalization of $100 billion. Delta Electronics Thailand, one of the core participants in the AI GPU supply chain (referred to as the "NVIDIA chain") headquartered in Thailand, saw its stock price surge by 10% on Monday—approximately one-third of its revenue comes from the U.S. AI data center construction sector, leading to a year-to-date increase of over 49%. Driven by exceptionally strong sales of core power equipment for AI data centers and robust demand for liquid cooling equipment, the company's revenue grew significantly by 20% last year. ![1771844715(1).png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260223/1771844719839406.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Suwat Sinsadok, a senior analyst from Globlex Securities Co., stated, "Delta Electronics Thailand has very high earnings visibility, thanks to its extremely robust performance growth strategy and its competitive AI data center power chain and liquid cooling product line." He added that the company's net profit could increase significantly by 25% by 2027, reaching $1 billion. The recent surge in stock prices since last year has made Delta Electronics Thailand Pcl the second-highest valued publicly listed company in Southeast Asia, second only to the Southeast Asian financial giant DBS Group, which crossed the $100 billion milestone last year. Delta Electronics Thailand Pcl's "AI data center power chain + liquid cooling/thermal management equipment" is undoubtedly positioned in the essential segment of AI computing infrastructure (the company recently unveiled its new generation of products such as data center liquid cooling CDU), and combined with the trade/demand expectations improvement brought about by the Supreme Court's overturning of Trump's reciprocal tariff policy, it has jointly driven the repricing of stock prices and market capitalization. **Who is Delta Electronics Thailand Pcl? Why has its market capitalization surged to the $100 billion mark?** Delta Electronics Thailand Pcl, a listed subsidiary of Delta Electronics, Inc. in Thailand, has seen its market value soar by 60% in just one year, rising from approximately $62.6 billion a year ago to over $100 billion currently. The reason Delta Electronics Thailand (DELTA.BK) has become a "market value monster" in this unprecedented AI infrastructure boom is that it essentially sells an indispensable part of the AI data center construction wave—"power and heat": high-efficiency power systems (power) + thermal management (thermal management), extending into ICT infrastructure and some industrial/automotive power electronics. The company has also clearly positioned itself as a "leader in power equipment and thermal management solutions for data centers," with a product portfolio covering power electronic systems, data center power chains, and liquid cooling in the hottest global markets. From the perspective of global AI server cluster projects, Delta's "tailwind" comes from two hard constraints: rising power density and thermal bottlenecks. As GPU/AI cabinets move from tens of kW to at least the hundred kW level, ultra-large-scale AI data centers, akin to "Stargates," require an efficient power supply chain from "grid to chip" (rectification/high-voltage power supply/power architecture, etc.) and higher thermal flux liquid cooling systems. Delta publicly emphasizes its provision of power and thermal management solutions covering data centers in the AI era, offering a combination of liquid cooling and air cooling (such as liquid cooling CDU) aimed at high-density GPU/CPU workloads. OCP has already publicly indicated that AI rack power "will soon exceed 500 kW," and NVIDIA is also advancing high-voltage DC architectures aimed at "AI factories," targeting rack scales from 100 kW to over 1 MW. Increasing power is not just about "spending more to buy a bit more MOSFETs," but brings about a stacking of devices along the entire chain: the efficiency and thermal design constraints of AC/DC and DC/DC are stricter, multi-stage conversion from 48V (or higher voltage) to point loads (<1V) is more complex, and GPU/CPU transient currents are steeper—this will significantly raise the quantity and specification requirements for power levels (FET/power modules/drivers), multi-phase controllers, hot-swappable/electronic fuses, isolation and current/voltage detection, clock and high-speed signal conditioning, and other subfields. The capital market is willing to give it a higher valuation multiple essentially because it is viewed as a "shovel stock" for AI data center capital expenditures: for every new or expanded AI data center, power, distribution, cooling, and cabinet-level liquid cooling are all rigid BOMs, and the value per cabinet increases with rising power density. Compared to pure machine assembly, these "critical components/systems" more easily reflect technological barriers (efficiency, reliability, control, materials, and system integration) and bargaining power; this also corresponds to the market narrative of "data center demand-driven, strong power electronics sales." Additionally, after the Supreme Court ruling overturned tariffs, the market's outlook for its core data center power chain equipment and AI liquid cooling equipment has further strengthened, propelling it to become the first company in Thailand with a market value exceeding $100 billion ### Related Stocks - [iShares MSCI Thailand ETF (THD.US)](https://longbridge.com/en/quote/THD.US.md) - [YieldMax NVDA Option Income Strategy ETF (NVDY.US)](https://longbridge.com/en/quote/NVDY.US.md) - [Direxion Daily Semicondct Bull 3X ETF (SOXL.US)](https://longbridge.com/en/quote/SOXL.US.md) - [iShares Semiconductor ETF (SOXX.US)](https://longbridge.com/en/quote/SOXX.US.md) - [Direxion Daily NVDA Bull 2X Shares (NVDU.US)](https://longbridge.com/en/quote/NVDU.US.md) - [NVIDIA Corporation (NVDA.US)](https://longbridge.com/en/quote/NVDA.US.md) - [T-REX 2X Long NVIDIA Daily Target ETF (NVDX.US)](https://longbridge.com/en/quote/NVDX.US.md) - [GraniteShares 2x Long NVDA Daily ETF (NVDL.US)](https://longbridge.com/en/quote/NVDL.US.md) - [VanEck Semiconductor ETF (SMH.US)](https://longbridge.com/en/quote/SMH.US.md) ## Related News & Research - [Planet to build world’s first GPU-native AI engine for planetary intelligence with Nvidia](https://longbridge.com/en/news/279330399.md) - [LPU: Nvidia popularizes a new AI acronym](https://longbridge.com/en/news/279662346.md) - [EXL advances EXLerate.ai agentic AI platform to support enterprise-scale adoption with NVIDIA technologies | EXLS Stock News](https://longbridge.com/en/news/279335695.md) - [Aixia, Evroc And Opper Partner To Launch Nordic AI Platform Initiative](https://longbridge.com/en/news/279371840.md) - [Persistent Systems launches AI-powered generative molecules and virtual screening solution powered by Nvidia](https://longbridge.com/en/news/279394554.md)