Taiwan Thermal Supplier Global PMX Pivots to AI Server Cooling
Global PMX, a Taiwan-based thermal solution manufacturer, reported full-year 2025 revenue of NT$7.823 billion (US$249.3 million), up 1.71% year-over-year. The company posted net income of NT$696 million after improving costs and adjusting its product mix.
The company is shifting focus toward cooling systems for AI servers as demand for compute infrastructure accelerates globally. This move reflects a broader industry trend among Taiwan's thermal suppliers, who are repositioning away from traditional automotive and industrial applications.
Liquid Cooling Becomes Standard
Thermal solution providers across Taiwan are entering a structural growth phase as data center operators adopt liquid cooling at scale. The shift from air-based systems addresses the heat density challenges posed by advanced AI chips running continuous inference workloads.
Multiple Taiwan suppliers have reported strong order books for liquid cooling systems. Revenue from liquid cooling is expected to reach 20% of total sales for some manufacturers within the next two years, up from single-digit percentages historically.
What This Means for Strategy
For executives in infrastructure and operations, this signals a maturing market for AI compute cooling. Companies deploying large-scale AI systems should expect liquid cooling to become standard specification rather than premium option.
Supply chain leaders should monitor Taiwan's thermal suppliers closely. The region controls significant market share in both traditional and emerging cooling solutions, and capacity constraints could affect data center expansion timelines.
Capital allocation decisions for new data centers should account for cooling infrastructure costs upfront. Liquid cooling systems require different facility design and maintenance protocols than air cooling, affecting total cost of ownership calculations.
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