Mining server diamond cooling + liquid cooling "double buff" boost, Huanghe Cyclone, Feilong Shares, and others hit the daily limit

On March 10, liquid-cooled servers and diamond cooling concept stocks were actively rising. Liangliang Diamond (301071.SZ) rose over 10%, Huanghe Xuanfeng (600172.SH), Jiangshun Technology (001400.SZ), Daoming Optical (002632.SZ), Aerospace Electrical (002025.SZ), and Feilong Shares (002536.SZ) hit the daily limit up. Sifangda (300179.SZ), UCloud-W (688158.SH), FiberHome Communications (600498.SH), Yunsai Smart Link (600602.SH), and GaoLan Shares (300499.SZ) also followed the upward trend.

Open Source Securities research report states that, with the continuous expansion of the AI chip market, assuming diamond cooling accounts for 8-10% of the value in AI chip segments and has a penetration rate of 20-30%, the market space for diamond cooling could reach 48 to 90 billion yuan by 2030.

China Post Securities indicates that in the AI chip field, the potential market space for diamond cooling is broad. Assuming the global AI chip market size reaches 3 trillion RMB by 2030; with diamond cooling solution penetration rates of 5%, 10%, 20%, and 50%; and the value share of diamond cooling at 5%, 8%, and 10%, elastic calculations suggest the market space for diamond cooling ranges from 7.5 billion to 150 billion yuan.

Guotai Haitong Securities’ research report points out that 2025 can be regarded as the “landing year” for liquid cooling in data centers. Essentially, it is the convergence of two curves: one is the physical limit of computing power density and the rigid constraints on energy efficiency, which occur simultaneously. On one end, chip manufacturers enhance computing power by increasing transistor density, core count, and frequency, leading to significant increases in chip power consumption, causing both technical and economic failure of air cooling. On the other end, various regions worldwide impose strict constraints on the efficiency of power supplies for new data centers, promoting energy saving and emission reduction, pushing liquid cooling from an “optional configuration” to a “mandatory compliance” requirement.