Greater China Tech Hardware: Cooling at Compute 2026: liquid cooling top trend; MCL still around; big MGX camp

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Greater China Tech Hardware: Cooling at Compute 2026: liquid cooling top trend; MCL still around; big MGX camp

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Greater China Tech Hardware

Cooling at Compute 2026: liquid cooling

top trend; MCL still around; big MGX camp

Industry Overview

Computex 2026: liquid cooling emerges as clear trend 04 June 2026

We attended Computex 2026 in Taipei (2-5 June) and visited several cooling/thermal Equity

suppliers’ booths, including Jentech, Auras, Delta, Vertiv, and Kaori. AVC (Asia Vital Greater China

Components, AVC) did not set up a booth this year. We see the clear trend of rising Technology

liquid cooling adoption, which is used in GPU (graphic processing unit; Exhibit 1), ASIC Doris Kao >>

(application-specific integrated circuit), CPU (central processing unit), memory (Exhibit 4) Research Analyst

for different applications, such as computing, networking, optical/CPO (co-packaged Merrill+886 2Lynch2376 (Taiwan)3722

optics; Exhibit 3), and power cable/connectors (e.g., rack busbar, power whip). See also doris.kao@bofa.com

our Greater China tech team’s Computex takeaways report. Robert Cheng >>

Research Analyst

Merrill Lynch (Taiwan)

+886 2 2376 3731MCL still around: demos from Jentech, Auras, Delta

robert.cheng@bofa.com

We also saw MCL (microchannel lid) product demos (Exhibit 5) from Jentech, Auras (at

Wistron/Wiwynn’s booth), and Delta. Our checks at Computex suggest that MCL is still in KatherineResearch AnalystZhu >>

development/testing phase (i.e., not being phased out or abandoned), but the product Merrill Lynch (Hong Kong)

+852 3508 3374

launch timing (e.g., NVIDIA Rubin Ultra or Feynman) is yet to be confirmed. kexin.zhu@bofa.com

Cindy Lo >>

Research AnalystOngoing study/innovations; big NVIDIA MGX cooling camp Merrill Lynch (Taiwan)