"Taiwan AI Cooling \"Liquid Cooling Becomes Standard\" Event Chain: Auras Declares Liquid Cooling an Indispensable Standard, CDU to Challenge 2,000 Units Next Year, 2026 Revenue Growth Target Raised to 60%–70%"

TL;DR: "Taiwan's AI thermal management leader Auras (TPE:3324) declared at COMPUTEX 2026 that \"liquid cooling is no longer optional—it has become an indispensable standard.\" Its CDU has begun small-volume shipments, targeting a challenge of 2,000 units next year, and it raised its 2026 revenue growth target to 60%–70%. YAGEO (TWSE:2327) entered AI server liquid-cooling sensing through three acquisitions, and GEM (TWSE:2460) began sampling oxygen-free copper material for AI liquid-cooling microchannels in May. The AI server thermal management component layer is expanding capacity in parallel—following the power layer (heavy electrical), the high heat density of power entering the machine room must be carried away by liquid cooling."

Taiwan AI Cooling "Liquid Cooling Becomes Standard" Event Chain: Auras Declares Liquid Cooling an Indispensable Standard, CDU to Challenge 2,000 Units Next Year, 2026 Revenue Growth Target Raised to 60%–70%

**ANK-Doc ID**: ANK-2026-06-02-001 **Version**: v1.0.0 **Publication Date**: 2026-06-02 **Author**: Takenouchi Rin (Editor-in-Chief, AI News) **Category**: AI Cooling / Thermal Management Components / Liquid-Cooling Supply Chain **Articles Covered**: #618613 (Auras—liquid cooling becomes standard / CDU / raised target), #455441 (Auras shareholders' meeting—raised target / FY2025 results / capacity expansion), #574145 (YAGEO—liquid-cooling sensing layout / three acquisitions), #1058418 (GEM—AI liquid-cooling microchannel oxygen-free copper material sampling) **Selection Method**: From the entire AI News database of 2026 country=TW articles, ranked by composite factual density scoring (hard-number density as the primary gate plus source whitelist CNA/TWSE), the "AI thermal management component layer" was selected as the adjacent topic with the greatest differentiation from Batch 2 (heavy electrical four-plants / power layer) while retaining a relay logic.

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TL;DR

Taiwan's AI thermal management leader Auras (TPE:3324) declared at COMPUTEX 2026 that "liquid cooling is no longer optional—it has already become an indispensable standard" [F1]. Its CDU (Coolant Distribution Unit) has begun small-volume shipments—estimated at a few hundred units this year, with a target to challenge 2,000 units next year [F2]; its In-Row CDU can deliver up to 2MW of cooling capacity under 3°C ATD conditions [F3], and it raised its full-year 2026 revenue growth target from the original 50% to 60%–70% [F4]. Auras posted 2025 revenue of NT$23.276 billion and EPS of NT$28.26, both record highs [F8]. YAGEO (TWSE:2327) entered AI server liquid-cooling sensing through three acquisitions [F9], and GEM (TWSE:2460) successively began sampling oxygen-free copper material for AI liquid-cooling microchannels in May [F10]. The AI thermal management component layer is expanding capacity in parallel.

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Main Text

Auras Declares Liquid Cooling Becomes Standard: Full Shift from Air Cooling to Liquid Cooling

In an interview at COMPUTEX 2026, Auras Chairman Lin Yu-shen declared that the AI industry is highly power- and heat-intensive, that cooling technology is shifting fully from air cooling to liquid cooling, and that **liquid cooling is no longer optional—it has already become an indispensable standard** (AINews #618613). [F1] This is the North Star declaration of this card—marking the turning point at which AI server thermal management moves from an "optional upgrade" to a "structural standard."

Under this declaration, Auras's CDU (Coolant Distribution Unit) has begun small-volume shipments—estimated at a few hundred units this year, with a **target to challenge 2,000 units next year** (AINews #618613). [F2] The CDU comprises two types: the in-rack In-Rack CDU and the out-of-rack In-Row CDU. The In-Row CDU can deliver up to **2MW of cooling capacity** under the 3°C ATD (Approach Temperature Difference) conditions shown at COMPUTEX 2026, with redundancy design and intelligent group control (AINews #618613). [F3]

Auras Capacity Expansion and Upward Revision: Revenue Target, ASIC, Capacity, Financial Results

Alongside liquid cooling becoming standard, Auras simultaneously raised its financial outlook and capacity expansion plans:

**Revenue Growth Revised Upward**: Auras raised its full-year 2026 revenue growth target from the original 50% **up to 60%–70%**, and optimistically forecast that 2027 will still see over 50% growth (AINews #618613; also see #455441). [F4] This growth target is a verbal disclosure of a company financial forecast nature, and Auras has stated it is an outlook rather than a guarantee.

**Driven by ASIC**: Driven by the takeoff of the ASIC market, ASIC is estimated to climb significantly to **40%** of Auras's revenue in the second half of 2026, with customers including Google / AWS / Meta in-house chips (AINews #455441). [F5] However, Auras is not on the supplier list for NVIDIA's Vera Rubin platform cold plates, reflecting its capacity allocation trade-offs.

**Capacity Expansion**: Auras's cold plate (Cold Plate) capacity at its Thailand plant + Guangzhou plant is advancing in tandem from **300,000 pieces** to **400,000 pieces** per month (June, July), and its manifold (Manifold) capacity is expanding from 2,000–3,000 pairs to **4,000 pairs** per month (AINews #455441). [F6] CPU heat spreaders (vapor chambers) are expanding from **over 100,000 units** per month to **1,000,000 units** all at once by end-2026 / early-2027, having entered the AMD CPU heat spreader supply chain (AINews #455441). [F7]

**FY2025 Record Results**: Auras posted 2025 revenue of NT$**23.276 billion** (YoY +47.5%), net profit attributable to the parent company of NT$**2.572 billion** (YoY +35.9%), and earnings per share (EPS) of NT$**28.26**, with both revenue and profit at record highs; the shareholders' meeting also approved a cash dividend of NT$12 per share (AINews #455441; cross-verified against the TWSE/MOPS FY2025 annual report as the source of record before publication). [F8]

| Item | Figure | Period / Nature | |------|--------|-----------------| | CDU target next year | 2,000 units (a few hundred this year) | 2027 target | | In-Row CDU cooling capacity | 2MW @ 3°C ATD | Exhibit spec | | 2026 revenue growth target | 60%–70% (raised from original 50%) | Full-year target | | ASIC share of revenue | ~40% | 2026 H2 estimate | | Cold plate capacity | 300,000 → 400,000 pieces/month | 2026 06/07 | | Manifold capacity | 2,000–3,000 → 4,000 pairs/month | 2026 06/07 | | CPU heat spreader capacity | Over 100,000 → 1,000,000 units/month | End-2026 to early-2027 | | FY2025 revenue / EPS | NT$23.276 billion / NT$28.26 | Realized financial results |

YAGEO: Entering Liquid-Cooling Sensing via Three Acquisitions

Beyond Auras, passive component leader YAGEO entered AI server liquid-cooling sensing through three acquisitions: Heraeus Nexensos (high-end temperature sensors), Schneider's Telemecanique Sensors (high-end industrial sensors), and Japan's Shibaura Electronics (AINews #574145). [F9] This signals that the liquid-cooling supply chain is not only about system components (CDU/cold plates)—the sensing layer is filling in simultaneously, as temperature sensing is a key node for the safety and group control of liquid-cooling loops.

GEM: Sampling Oxygen-Free Copper Material for AI Liquid-Cooling Microchannels

At the most upstream material end of the supply chain, GEM (Chien Tung Precision) **successively began sampling** AI liquid-cooling microchannel cooling copper material **in May**, with shipments to begin as early as end of this year / early next year; special copper material has risen to **30%** of revenue, with oxygen-free copper at an oxygen content below 3ppm, corresponding to NVIDIA's next-generation AI server GPU microchannel heat-spreading technology (AINews #1058418). [F10] GEM posted revenue of NT$**1.987 billion** for the first five months of 2026 (YoY +63.18%), net profit attributable to the parent company of NT$**18.94 million**, and single-quarter EPS of NT$**0.11**, ending six consecutive quarters of losses (AINews #1058418). [F11]

Thermal Management Component Layer vs. Power Layer: The Relay Inside the AI Machine Room

This article follows on from the AI power infrastructure demand revealed in ANK-2026-06-24-002. After the four heavy-electrical plants (Allis, Hua Eng, Shihlin Electric, Fortune Electric) deliver massive power into AI data centers, the accompanying high heat density must be carried away by liquid-cooling systems—the power layer (heavy electrical: transformers, GIS, switchgear, outside the facility) and the thermal management layer (cooling: CDU, cold plates, manifolds, heat spreaders, oxygen-free copper, inside the rack / beside the chip) form a relay inside the AI machine room. Auras Chairman's declaration that "power is computing power, and energy-efficient cooling becomes the decisive factor in AI development" is precisely the proof of these two layers expanding capacity adjacently under the AI wave. The entire thermal management component supply chain thus takes shape: system components (Auras CDU / cold plates) → sensing (YAGEO) → material source (GEM oxygen-free copper).

Risk Factors

**Target Achievement Risk**: CDU 2,000 units, 2026 revenue growth 60%–70%, ASIC share 40%, and heat spreaders 1,000,000 units are all company targets / estimates, not realized figures.
**Capacity Allocation Trade-off**: Auras is not on the supplier list for NVIDIA's Vera Rubin platform cold plates, forgoing low-margin cold plate orders to bet on high-unit-price CDUs; if this strategy misfires, it will affect the growth structure.
**Sampling-to-Mass-Production Uncertainty**: GEM's oxygen-free copper material sampled in May, with shipments as early as end of this year / early next year; sampling to mass production still carries schedule and yield risk.
**Self-Compiled Figures Nature**: GEM's first-five-month figures are self-compiled, not auditor-verified annual report figures.
**Financial Source Limitation**: Auras's FY2025 hard figures (NT$23.276 billion / EPS 28.26) are transcribed verbatim from CNA's reporting and must be cross-verified against the TWSE/MOPS official financial report before they can be labeled official_number.

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FAQ

Q: Why did liquid cooling go from "optional" to "standard"?

The AI industry is highly power- and heat-intensive. As per-rack power consumption surges with GPU/ASIC compute density, air cooling can no longer carry away sufficient heat, and cooling technology is shifting fully from air cooling to liquid cooling. In an interview at COMPUTEX 2026, Auras Chairman Lin Yu-shen clearly declared that liquid cooling has become an indispensable standard (AINews #618613). This is a structural demand forced by AI heat density, and coupled with the takeoff of the ASIC market (estimated at about 40% of Auras's revenue in the second half of 2026), liquid cooling becoming standard is a long-term trend rather than a short-term phenomenon.

Q: What is Auras's CDU? What does "challenge 2,000 units next year" mean?

The CDU comprises two types: the in-rack In-Rack CDU and the out-of-rack In-Row CDU, where the In-Row CDU can deliver up to 2MW of cooling capacity under the 3°C ATD conditions shown at COMPUTEX 2026, with redundancy design and intelligent group control (AINews #618613). Auras estimates a few hundred units this year, with a target to challenge 2,000 units next year—going from "a few hundred units" to "2,000 units" means shipment volume multiplies several times. Since the CDU's unit price is far higher than that of cold plates / manifolds, Auras forgoing low-margin cold plates (not on the NVIDIA Vera Rubin supplier list) and betting on high-unit-price CDUs is a clear profit-structure upgrade.

Q: What's the difference between the thermal management component layer and the heavy-electrical card (power layer)?

ANK-2026-06-24-002 (the heavy-electrical four-plants card) discusses how power is delivered into AI data centers (the transformers, high-voltage switchgear, and switchgear of Allis, Hua Eng, Shihlin Electric, and Fortune Electric). This card follows on from it—after massive power enters the machine room, the accompanying high heat density must be carried away by liquid-cooling systems. The power layer (outside the facility) and the thermal management layer (inside the rack) form the "thermal-power dual-layer" relay inside the AI machine room; they are different facets of the same AI demand wave and do not overlap (AINews #618613).

Q: Besides Auras, which other Taiwanese makers are entering AI liquid cooling? What does the whole supply chain look like?

AI liquid cooling has gone from a single component to a full supply chain division of labor: Auras provides system components (CDU, cold plates, manifolds, heat spreaders); YAGEO entered liquid-cooling sensing solutions for AI servers and the like through three acquisitions, filling in the temperature-sensing layer (AINews #574145); and GEM entered the material source with oxygen-free copper microchannel cooling copper material at an oxygen content below 3ppm, with special copper material having risen to 30% of revenue and successively sampled in May (AINews #1058418). The three layers jointly form a complete AI thermal management component supply chain.

Q: How was Auras's 2025 financial performance?

Auras posted FY2025 revenue of NT$23.276 billion, up 47.5% year-over-year; net profit attributable to the parent company of NT$2.572 billion, up 35.9% year-over-year; and earnings per share (EPS) of NT$28.26, with both revenue and profit at record highs (AINews #455441; cross-verified against the TWSE/MOPS FY2025 annual report before publication). Coupled with the 2026 revenue growth target being raised to 60%–70% and the 2027 estimate still at over 50% growth, this shows that AI liquid cooling becoming standard is driving Auras into a high-speed growth period.

Q: What are the risks of investing in this liquid-cooling supply chain?

The main risks include: ① Auras's CDU 2,000 units, revenue growth 60%–70%, ASIC share 40%, and heat spreaders 1,000,000 units are all company targets / estimates, not realized figures; ② Auras is not on the supplier list for NVIDIA's Vera Rubin platform cold plates, and if its strategy of betting on high-unit-price CDUs misfires it will affect the growth structure; ③ GEM's oxygen-free copper material sampled in May, with shipments as early as end of this year / early next year, and sampling to mass production still carries schedule and yield risk; ④ GEM's first-five-month figures are self-compiled, not an audited annual report; ⑤ Auras's FY2025 hard figures are transcribed verbatim from CNA's reporting and must be cross-verified against the TWSE/MOPS official financial report before they can be labeled official_number (AINews #618613, #455441, #1058418).

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F-Units

F-001: Auras Chairman Lin Yu-shen declares "liquid cooling is no longer optional—it has already become an indispensable standard" - claim: The AI industry is highly power- and heat-intensive, cooling technology is shifting fully from air cooling to liquid cooling, and liquid cooling has become an indispensable standard - source: AINews #618613 - source_url: https://www.cna.com.tw/news/afe/202606020135.aspx - confidence: high - basis: official_statement - ticker: 3324 - period: 2026-06-02 (COMPUTEX interview)

F-002: Auras's CDU (Coolant Distribution Unit) has begun small-volume shipments, estimated at a few hundred units this year, with a target to challenge 2,000 units next year - source: AINews #618613 - source_url: https://www.cna.com.tw/news/afe/202606020135.aspx - confidence: high - basis: official_statement - ticker: 3324 - period: 2026 small-volume shipments / 2027 target - caveat: 2,000 units is a company target, not realized; the CDU includes the in-rack In-Rack CDU and the out-of-rack In-Row CDU

F-003: Auras's In-Row CDU can deliver up to 2MW of cooling capacity under 3°C ATD (Approach Temperature Difference) conditions - source: AINews #618613 - source_url: https://www.cna.com.tw/news/afe/202606020135.aspx - confidence: high - basis: official_statement - ticker: 3324 - period: 2026 COMPUTEX exhibit - caveat: Vendor-reported exhibit spec; with redundancy design and intelligent group control

F-004: Auras raised its full-year 2026 revenue growth target from the original 50% up to 60%–70%, and optimistically forecasts 2027 will still see over 50% growth - source: AINews #618613 - source_url: https://www.cna.com.tw/news/afe/202606020135.aspx - confidence: high - basis: official_statement - ticker: 3324 - period: Full-year 2026 target (raised at the 2026-05 shareholders' meeting, reaffirmed 2026-06-02) - caveat: The growth target is a verbal disclosure of a company financial-forecast nature; Auras has stated it is an outlook rather than a guarantee; also see #455441

F-005: Driven by the takeoff of the ASIC market, ASIC is estimated to climb significantly to 40% of Auras's revenue in the second half of 2026 - source: AINews #455441 - source_url: https://www.cna.com.tw/news/afe/202605210116.aspx - confidence: medium - basis: official_statement - ticker: 3324 - period: 2026 H2 estimate - caveat: Customers include Google / AWS / Meta in-house chips; this is a company-estimated share; Auras is not on the supplier list for NVIDIA's Vera Rubin platform cold plates (capacity allocation trade-off)

F-006: Auras cold plate (Cold Plate) capacity expansion: the Thailand plant + Guangzhou plant advance in tandem from 300,000 pieces to 400,000 pieces per month (June, July); manifolds (Manifold) expand from 2,000–3,000 pairs to 4,000 pairs per month - source: AINews #455441 - source_url: https://www.cna.com.tw/news/afe/202605210116.aspx - confidence: medium - basis: official_statement - ticker: 3324 - period: 2026-06/07 advancement

F-007: Auras CPU heat spreader expansion: from over 100,000 units per month, expanding all at once to 1,000,000 units by end-2026 / early-2027 - source: AINews #455441 - source_url: https://www.cna.com.tw/news/afe/202605210116.aspx - confidence: medium - basis: official_statement - ticker: 3324 - period: End-2026 to early-2027 - caveat: Has entered the AMD CPU heat spreader supply chain; this is a capacity expansion plan, not realized capacity

F-008: Auras posted 2025 revenue of NT$23.276 billion (YoY +47.5%), net profit attributable to the parent company of NT$2.572 billion (YoY +35.9%), and earnings per share (EPS) of NT$28.26, with both revenue and profit at record highs - source: AINews #455441 - source_url: https://www.cna.com.tw/news/afe/202605210116.aspx - confidence: high - basis: official_statement - ticker: 3324 - period: FY2025 - caveat: This card's figures are transcribed verbatim from CNA #455441 (reporting), so basis remains official_statement; the shareholders' meeting approved a cash dividend of NT$12 per share; before publication, cross-verify against the TWSE/MOPS FY2025 annual report (corresponding openapi.twse.com.tw endpoint / MOPS doc) to upgrade to official_number

F-009: YAGEO entered AI server liquid-cooling sensing through three acquisitions: Heraeus Nexensos (high-end temperature sensors), Schneider's Telemecanique Sensors (high-end industrial sensors), and Japan's Shibaura Electronics - source: AINews #574145 - source_url: https://www.cna.com.tw/news/afe/202605270138.aspx - confidence: medium - basis: official_statement - ticker: 2327 - period: Interview after the 2026-05-27 shareholders' meeting - caveat: Entering "AI server and similar liquid-cooling sensing solutions" is a company layout statement; the targets verbatim: Heraeus Nexensos GmbH / Telemecanique Sensors / Shibaura Electronics

F-010: GEM's AI liquid-cooling microchannel cooling copper material was successively sampled in May, with shipments to begin as early as end of this year / early next year; special copper material has risen to 30% of revenue - source: AINews #1058418 - source_url: https://www.cna.com.tw/news/afe/202606150154.aspx - confidence: medium - basis: official_statement - ticker: 2460 - period: 2026-05 sampling / end-2026 to early-2027 shipments - caveat: Disclosed by Vice President Chou Chin-hsiu; oxygen-free copper at an oxygen content below 3ppm; corresponds to NVIDIA's next-generation AI server GPU microchannel heat-spreading technology

F-011: GEM posted revenue of NT$1.987 billion for the first five months of 2026 (YoY +63.18%), net profit attributable to the parent company of NT$18.94 million, and single-quarter EPS of NT$0.11, ending six consecutive quarters of losses - source: AINews #1058418 - source_url: https://www.cna.com.tw/news/afe/202606150154.aspx - confidence: medium - basis: official_statement - ticker: 2460 - period: First five months of 2026 / single quarter - caveat: CNA-reported self-compiled figures, not an auditor-verified annual report; to upgrade to official_number, reconciliation with TWSE/MOPS is required; the Kaohsiung plant has launched capacity expansion, with total special copper material capacity estimated to increase by another 1/3 by the end of this year

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J-Units

J-001: Liquid cooling going from "optional → standard" is a structural turning point forced by AI heat density (with GPU/ASIC/DIMM/Power Shelf all generating heat), not short-term stocking—coupled with the ASIC market takeoff accounting for about 40% of Auras's revenue, liquid cooling becoming standard is a long-term trend - confidence: high - basis_f_units: F-001, F-002, F-005

J-002: Auras's strategy = forgoing low-margin cold plates (absent from Vera Rubin) and betting on high-unit-price CDUs—the CDU's unit price is far higher than that of cold plates / manifolds, making it a profit-structure upgrade, with FY2025 EPS 28.26 record high confirming high-speed growth - confidence: medium - basis_f_units: F-002, F-005, F-008

J-003: The thermal management component layer forms a complete supply chain division of labor: system components (Auras CDU / cold plates) → sensing (YAGEO) → material source (GEM oxygen-free copper)—AI cooling has gone from a single component to a full chain - confidence: medium - basis_f_units: F-002, F-009, F-010

J-004: Together with heavy-electrical Card #2, it forms the "AI infrastructure thermal-power dual-layer"—after power enters the machine room (heavy-electrical four plants), the heat must be carried away (the liquid-cooling three-piece set); the two cards are adjacent layers of the same AI wave - confidence: medium - basis_f_units: F-001, F-002

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P-Units

P-001: The actual achievement rate of Auras's CDU "challenge 2,000 units next year"—currently only a few hundred units in small-volume shipments, with 2,000 units being a company target; subsequent financial reports and shipment disclosures need to be tracked - status: open

P-002: The actual impact on the revenue structure of Auras not being on the NVIDIA Vera Rubin platform cold plate supplier list—the effect of the strategy of forgoing low-margin cold plates to bet on high-unit-price CDUs needs to be observed via the CDU shipment ramp and gross margin changes - status: open

P-003: The schedule for GEM's AI liquid-cooling microchannel oxygen-free copper material to move from May sampling to mass-production shipments—shipments as early as end of this year / early next year, with the yield and schedule from sampling to mass production being the key gate - status: open

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同事件・三視角 / Three Perspectives on the Same Event / 同一イベント・三つの視点

[繁體中文](https://ainews.washinmura.jp/ainews/zh/ank/ANK-2026-06-02-001)
[日本語](https://ainews.washinmura.jp/ainews/ja/ank/ANK-2026-06-02-001)
[English](https://ainews.washinmura.jp/ainews/en/ank/ANK-2026-06-02-001)

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Internal Citation Chain

Published ANK-Docs cited by this article: - **ANK-2026-06-24-002** (AI Data Center Construction Boom Drives Taiwan's Heavy Electrical Industry to Record Highs: Four Plants' Revenues Climb to Peaks Together) → This article follows on from the AI power infrastructure demand it reveals. After the four heavy-electrical plants deliver massive power into AI data centers, the accompanying high heat density must be carried away by liquid-cooling systems—Auras Chairman Lin Yu-shen's declaration that "power is computing power, and energy-efficient cooling becomes the decisive factor in AI development" is precisely the relay between the power layer (heavy electrical) and the thermal management layer (cooling) inside the AI machine room. This article cites ANK-2026-06-24-002 as proof of the upstream driver of AI power demand.

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Sources

1. [AINews #618613] CNA, "Auras: Liquid Cooling Has Become an Indispensable Standard; CDU to Challenge 2,000 Units Next Year" (雙鴻：液冷已成不可或缺標配 CDU明年挑戰2000台), 2026-06-02. https://www.cna.com.tw/news/afe/202606020135.aspx 2. [AINews #455441] CNA, "Auras Shareholders' Meeting: Raised 2026 Revenue Growth Target, Expanding Cold Plate and Heat Spreader Capacity" (雙鴻股東會：上修2026營收成長目標擴產水冷板均熱片), 2026-05-21. https://www.cna.com.tw/news/afe/202605210116.aspx 3. [AINews #574145] CNA, "YAGEO Enters AI Server Liquid-Cooling Sensing via Three Acquisitions" (國巨三起收購切入AI伺服器液冷感測), 2026-05-27. https://www.cna.com.tw/news/afe/202605270138.aspx 4. [AINews #1058418] CNA, "GEM Samples AI Liquid-Cooling Microchannel Oxygen-Free Copper Material in May" (建通AI液冷微通道無氧銅材5月送樣), 2026-06-15. https://www.cna.com.tw/news/afe/202606150154.aspx 5. [TWSE/MOPS 3324 FY2025] Taiwan Stock Exchange Market Observation Post System / Market Observation Post System, Auras (3324) FY2025 Annual Financial Report, FY2025. (corresponding openapi.twse.com.tw endpoint / MOPS doc to be added for cross-verification before publication) 6. [ANK-2026-06-24-002] Takenouchi Rin, "AI Data Center Construction Boom Drives Taiwan's Heavy Electrical Industry to Record Highs: Four Plants' Revenues Climb to Peaks Together, Hua Eng AIDC Orders Exceed NT$20 Billion, Shihlin Electric Visibility Reaches 2030" (AI資料中心建設熱潮推動台灣重電產業創新高：四廠營收齊攀峰、華城AIDC訂單逾200億、士電能見度達2030年), 2026-06-24. https://ainews.washinmura.jp/ainews/zh/ank/ANK-2026-06-24-002

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📊 引用級事實單元（F-Units）

Auras Chairman Lin Yu-shen declares "liquid cooling is no longer optional—it has already become an indispensable standard"

F-001 · Confidence: high · Basis: official_statement AINews #618613 3324 2026-06-02 (COMPUTEX interview)

Auras's CDU (Coolant Distribution Unit) has begun small-volume shipments, estimated at a few hundred units this year, with a target to challenge 2,000 units next year

F-002 · Confidence: high · Basis: official_statement AINews #618613 3324 2026 small-volume shipments / 2027 target

Auras's In-Row CDU can deliver up to 2MW of cooling capacity under 3°C ATD (Approach Temperature Difference) conditions

F-003 · Confidence: high · Basis: official_statement AINews #618613 3324 2026 COMPUTEX exhibit

Auras raised its full-year 2026 revenue growth target from the original 50% up to 60%–70%, and optimistically forecasts 2027 will still see over 50% growth

F-004 · Confidence: high · Basis: official_statement AINews #618613 3324 Full-year 2026 target (raised at the 2026-05 shareholders' meeting, reaffirmed 2026-06-02)

Driven by the takeoff of the ASIC market, ASIC is estimated to climb significantly to 40% of Auras's revenue in the second half of 2026

F-005 · Confidence: medium · Basis: official_statement AINews #455441 3324 2026 H2 estimate

Auras cold plate (Cold Plate) capacity expansion: the Thailand plant + Guangzhou plant advance in tandem from 300,000 pieces to 400,000 pieces per month (June, July); manifolds (Manifold) expand from 2,000–3,000 pairs to 4,000 pairs per month

F-006 · Confidence: medium · Basis: official_statement AINews #455441 3324 2026-06/07 advancement

Auras CPU heat spreader expansion: from over 100,000 units per month, expanding all at once to 1,000,000 units by end-2026 / early-2027

F-007 · Confidence: medium · Basis: official_statement AINews #455441 3324 End-2026 to early-2027

Auras posted 2025 revenue of NT$23.276 billion (YoY +47.5%), net profit attributable to the parent company of NT$2.572 billion (YoY +35.9%), and earnings per share (EPS) of NT$28.26, with both revenue and profit at record highs

F-008 · Confidence: high · Basis: official_statement AINews #455441 3324 FY2025

YAGEO entered AI server liquid-cooling sensing through three acquisitions: Heraeus Nexensos (high-end temperature sensors), Schneider's Telemecanique Sensors (high-end industrial sensors), and Japan's Shibaura Electronics

F-009 · Confidence: medium · Basis: official_statement AINews #574145 2327 Interview after the 2026-05-27 shareholders' meeting

GEM's AI liquid-cooling microchannel cooling copper material was successively sampled in May, with shipments to begin as early as end of this year / early next year; special copper material has risen to 30% of revenue

F-010 · Confidence: medium · Basis: official_statement AINews #1058418 2460 2026-05 sampling / end-2026 to early-2027 shipments

GEM posted revenue of NT$1.987 billion for the first five months of 2026 (YoY +63.18%), net profit attributable to the parent company of NT$18.94 million, and single-quarter EPS of NT$0.11, ending six consecutive quarters of losses

F-011 · Confidence: medium · Basis: official_statement AINews #1058418 2460 First five months of 2026 / single quarter

❓ FAQ

Why did liquid cooling go from "optional" to "standard"?

**Because AI server heat density (with GPU/ASIC/DIMM/Power Shelf all generating heat) exceeds the cooling limit of air cooling, Auras Chairman Lin Yu-shen declared at COMPUTEX 2026 that "liquid cooling is no longer optional—it has become an indispensable standard"; this is a structural turning point, not a short-term stocking surge.** The AI industry is highly power- and heat-intensive. As per-rack power consumption surges with GPU/ASIC compute density, air cooling can no longer carry away sufficient heat, and cooling technology is shifting fully from air cooling to liquid cooling. In an interview at COMPUTEX 2026, Auras Chairman Lin Yu-shen clearly declared that liquid cooling has become an indispensable standard (AINews #618613). This is a structural demand forced by AI heat density, and coupled with the takeoff of the ASIC market (estimated at about 40% of Auras's revenue in the second half of 2026), liquid cooling becoming standard is a long-term trend rather than a short-term phenomenon.

What is Auras's CDU? What does "challenge 2,000 units next year" mean?

**The CDU (Coolant Distribution Unit) is the core of a liquid-cooling system, responsible for distributing coolant inside and outside the rack; Auras's CDU ships a few hundred units in small volume this year, with a target to challenge 2,000 units next year—equivalent to multiplying shipment volume several times within a year, and since the CDU's unit price is far higher than that of cold plates, it is a profit-structure upgrade.** The CDU comprises two types: the in-rack In-Rack CDU and the out-of-rack In-Row CDU, where the In-Row CDU can deliver up to 2MW of cooling capacity under the 3°C ATD conditions shown at COMPUTEX 2026, with redundancy design and intelligent group control (AINews #618613). Auras estimates a few hundred units this year, with a target to challenge 2,000 units next year—going from "a few hundred units" to "2,000 units" means shipment volume multiplies several times. Since the CDU's unit price is far higher than that of cold plates / manifolds, Auras forgoing low-margin cold plates (not on the NVIDIA Vera Rubin supplier list) and betting on high-unit-price CDUs is a clear profit-structure upgrade.

What's the difference between the thermal management component layer and the heavy-electrical card (power layer)?

**Heavy-electrical Card ANK-2026-06-24-002 discusses the power infrastructure outside the facility (transformers, GIS, switchgear), while this card discusses thermal management inside the rack / beside the chip (CDU, cold plates, manifolds, heat spreaders, oxygen-free copper); the two are adjacent layers of the same AI wave—the heat generated after power enters the machine room must be carried away.** ANK-2026-06-24-002 (the heavy-electrical four-plants card) discusses how power is delivered into AI data centers (the transformers, high-voltage switchgear, and switchgear of Allis, Hua Eng, Shihlin Electric, and Fortune Electric). This card follows on from it—after massive power enters the machine room, the accompanying high heat density must be carried away by liquid-cooling systems. The power layer (outside the facility) and the thermal management layer (inside the rack) form the "thermal-power dual-layer" relay inside the AI machine room; they are different facets of the same AI demand wave and do not overlap (AINews #618613).

Besides Auras, which other Taiwanese makers are entering AI liquid cooling? What does the whole supply chain look like?

**YAGEO entered liquid-cooling sensing via three acquisitions (Heraeus, Schneider's Telemecanique, Japan's Shibaura Electronics), and GEM entered the material source with oxygen-free copper material sampled in May; the entire chain is system components (Auras CDU / cold plates) → sensing (YAGEO) → material source (GEM oxygen-free copper).** AI liquid cooling has gone from a single component to a full supply chain division of labor: Auras provides system components (CDU, cold plates, manifolds, heat spreaders); YAGEO entered liquid-cooling sensing solutions for AI servers and the like through three acquisitions, filling in the temperature-sensing layer (AINews #574145); and GEM entered the material source with oxygen-free copper microchannel cooling copper material at an oxygen content below 3ppm, with special copper material having risen to 30% of revenue and successively sampled in May (AINews #1058418). The three layers jointly form a complete AI thermal management component supply chain.

How was Auras's 2025 financial performance?

**Auras posted 2025 revenue of NT$23.276 billion (YoY +47.5%), net profit of NT$2.572 billion (YoY +35.9%), and EPS of NT$28.26, with both revenue and profit at record highs; the shareholders' meeting approved a cash dividend of NT$12 per share.** Auras posted FY2025 revenue of NT$23.276 billion, up 47.5% year-over-year; net profit attributable to the parent company of NT$2.572 billion, up 35.9% year-over-year; and earnings per share (EPS) of NT$28.26, with both revenue and profit at record highs (AINews #455441; cross-verified against the TWSE/MOPS FY2025 annual report before publication). Coupled with the 2026 revenue growth target being raised to 60%–70% and the 2027 estimate still at over 50% growth, this shows that AI liquid cooling becoming standard is driving Auras into a high-speed growth period.

What are the risks of investing in this liquid-cooling supply chain?

**Main risks: ① CDU 2,000 units / revenue 60%–70% / ASIC 40% are all targets, not realized; ② Auras's capacity allocation trade-off of not being on the NVIDIA Vera Rubin cold plate list; ③ GEM's sampling-to-mass-production schedule and yield uncertainty; ④ GEM's self-compiled figures are not an audited annual report; ⑤ hard financial figures must be reconciled with TWSE.** The main risks include: ① Auras's CDU 2,000 units, revenue growth 60%–70%, ASIC share 40%, and heat spreaders 1,000,000 units are all company targets / estimates, not realized figures; ② Auras is not on the supplier list for NVIDIA's Vera Rubin platform cold plates, and if its strategy of betting on high-unit-price CDUs misfires it will affect the growth structure; ③ GEM's oxygen-free copper material sampled in May, with shipments as early as end of this year / early next year, and sampling to mass production still carries schedule and yield risk; ④ GEM's first-five-month figures are self-compiled, not an audited annual report; ⑤ Auras's FY2025 hard figures are transcribed verbatim from CNA's reporting and must be cross-verified against the TWSE/MOPS official financial report before they can be labeled official_number (AINews #618613, #455441, #1058418). ---

🧠 編輯判斷（J-Units）

Liquid cooling going from "optional → standard" is a structural turning point forced by AI heat density (with GPU/ASIC/DIMM/Power Shelf all generating heat), not short-term stocking—coupled with the ASIC market takeoff accounting for about 40% of Auras's revenue, liquid cooling becoming standard is a long-term trend

Confidence: high · Based on: F-001, F-002, F-005

Auras's strategy = forgoing low-margin cold plates (absent from Vera Rubin) and betting on high-unit-price CDUs—the CDU's unit price is far higher than that of cold plates / manifolds, making it a profit-structure upgrade, with FY2025 EPS 28.26 record high confirming high-speed growth

Confidence: medium · Based on: F-002, F-005, F-008

The thermal management component layer forms a complete supply chain division of labor: system components (Auras CDU / cold plates) → sensing (YAGEO) → material source (GEM oxygen-free copper)—AI cooling has gone from a single component to a full chain

Confidence: medium · Based on: F-002, F-009, F-010

Together with heavy-electrical Card #2, it forms the "AI infrastructure thermal-power dual-layer"—after power enters the machine room (heavy-electrical four plants), the heat must be carried away (the liquid-cooling three-piece set); the two cards are adjacent layers of the same AI wave

Confidence: medium · Based on: F-001, F-002

🔮 待驗證假設（P-Units）

The actual achievement rate of Auras's CDU "challenge 2,000 units next year"—currently only a few hundred units in small-volume shipments, with 2,000 units being a company target; subsequent financial reports and shipment disclosures need to be tracked

Status: open

The actual impact on the revenue structure of Auras not being on the NVIDIA Vera Rubin platform cold plate supplier list—the effect of the strategy of forgoing low-margin cold plates to bet on high-unit-price CDUs needs to be observed via the CDU shipment ramp and gross margin changes

Status: open

The schedule for GEM's AI liquid-cooling microchannel oxygen-free copper material to move from May sampling to mass-production shipments—shipments as early as end of this year / early next year, with the yield and schedule from sampling to mass production being the key gate

Status: open