LiquidStack
Provides advanced liquid cooling solutions for AI and HPC data centers.
Updated May 2026
Overview
- Website
- liquidstack.com
- Acquired by
- Trane Technologies
- Ownership
- Acquired by public co
- Segment
- Cooling & Thermal Management
Product overview
LiquidStack offers direct-to-chip CDUs (up to 1350kW N+1, GigaModular up to 10MW), single/two-phase immersion cooling (up to 252kW/rack), and full services including consulting, installation, and maintenance . Used by hyperscalers like Microsoft and NTT Data, semiconductor firms, and HPC organizations for high-density AI workloads, enabling PUE as low as 1.01 and 92%+ cooling energy savings . Distinct for pioneering highest-density cooling since 2012, U.S. manufacturing in Texas, and full lifecycle support; acquired by Trane Technologies in 2026 .
Revenue model
Sells cooling equipment (CDUs, immersion tanks) and services via purchase orders confirmed in writing; prices per order confirmation (exclusive of taxes/shipping); additional fees for late payments (18% interest), restocking (25%), termination (incl. profit) . No public $/kW rates or lease details; estimated $9.3M annual revenue .
Moat
- Patents/IP
- Proprietary Technology
- First Mover
LiquidStack's key competitive moat is its extensive portfolio of 16-21 patents in advanced liquid cooling technologies, including cooling systems, fluid dynamics, and hardware integration, pioneered since 2012 for high-density, efficient, and sustainable data center solutions.