Modine Manufacturing is showing how the AI boom is spreading beyond chips. The company announced a long-term agreement to supply more than $4 billion of Airedale data-centre cooling products from 2027 to 2029, with upfront funding to support capacity expansion.

AI data centres need far more than GPUs: power, cooling, electrical systems, grid upgrades, networking and construction.

Winners

Data-centre cooling and thermal management

This is the most direct winner group. AI servers generate more heat than traditional workloads, so operators need chillers, air handlers and advanced thermal systems. Modine is the headline name because this deal gives investors more confidence that its cooling business can scale. Vertiv and Carrier may also benefit if cooling becomes a key bottleneck in the AI buildout.

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