[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Jukan [@Jukanlosreve](/creator/twitter/Jukanlosreve) on x 22.9K followers Created: 2025-07-24 01:55:30 UTC Delta Electronics: Increasing Market Share in AI Server Power and Liquid Cooling, Clear Upside for Performance and Valuation JPM (G. Hariharan, 2025/07/20) JPM states that Delta Electronics continues to strengthen its leading position in AI server power supplies and liquid cooling systems. Benefiting from the multi-fold expansion of the AI server market, the company has clear growth and valuation catalysts for the next two years. AI Servers Drive Revenue Mix Optimization, Multiple Catalysts in the Next Two Years Although 2Q revenue was lower than expected due to exchange rates and production line transfers, Delta Electronics' product portfolio optimization and improved AI server pricing led to gross margin improvement. The company anticipates increased GB300 cabinet shipments in the second half of the year, with power cabinet and HVDC architecture design changes driving a new round of performance in the next two years. High Market Share in Liquid Cooling Systems, Amazon IRHX a Key Catalyst Delta Electronics holds a higher-than-expected market share in Meta and Microsoft's L2A liquid cooling systems. Recently, Amazon announced its self-developed liquid cooling solution, reinforcing the trend of cloud service providers transitioning to an ODM model. JPM projects the liquid cooling business CAGR to reach XX% for FY25-27, with its revenue contribution potentially reaching X% by 2027. High-Power Cabinets Drive Increased Power Value The power value contributed by Delta Electronics in GB200 cabinets is $37,000, projected to rise to $XXXXXX for GB300. Future higher-power platforms like VR200 and Kyber are expected to push the value of a single power cabinet up to $150,000, and drive the full adoption of HVDC architecture. Server Business Structure Transformation Boosts Overall Profit Margins Delta Electronics' server-related revenue share is expected to increase from 25-30% in 2024 to 45-50% in 2027, boosting overall operating profit margins from XXXX% to 14%. High-value products such as liquid cooling and power cabinets are simultaneously driving up ASP and market share, strengthening the company's profitability XXXXX engagements  **Related Topics** [liquid](/topic/liquid) [coins ai](/topic/coins-ai) [electronics](/topic/electronics) [$2308tw](/topic/$2308tw) [delta](/topic/delta) [Post Link](https://x.com/Jukanlosreve/status/1948200334624792919)
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Jukan @Jukanlosreve on x 22.9K followers
Created: 2025-07-24 01:55:30 UTC
Delta Electronics: Increasing Market Share in AI Server Power and Liquid Cooling, Clear Upside for Performance and Valuation JPM (G. Hariharan, 2025/07/20)
JPM states that Delta Electronics continues to strengthen its leading position in AI server power supplies and liquid cooling systems. Benefiting from the multi-fold expansion of the AI server market, the company has clear growth and valuation catalysts for the next two years.
AI Servers Drive Revenue Mix Optimization, Multiple Catalysts in the Next Two Years Although 2Q revenue was lower than expected due to exchange rates and production line transfers, Delta Electronics' product portfolio optimization and improved AI server pricing led to gross margin improvement. The company anticipates increased GB300 cabinet shipments in the second half of the year, with power cabinet and HVDC architecture design changes driving a new round of performance in the next two years.
High Market Share in Liquid Cooling Systems, Amazon IRHX a Key Catalyst Delta Electronics holds a higher-than-expected market share in Meta and Microsoft's L2A liquid cooling systems. Recently, Amazon announced its self-developed liquid cooling solution, reinforcing the trend of cloud service providers transitioning to an ODM model. JPM projects the liquid cooling business CAGR to reach XX% for FY25-27, with its revenue contribution potentially reaching X% by 2027.
High-Power Cabinets Drive Increased Power Value The power value contributed by Delta Electronics in GB200 cabinets is $37,000, projected to rise to $XXXXXX for GB300. Future higher-power platforms like VR200 and Kyber are expected to push the value of a single power cabinet up to $150,000, and drive the full adoption of HVDC architecture.
Server Business Structure Transformation Boosts Overall Profit Margins Delta Electronics' server-related revenue share is expected to increase from 25-30% in 2024 to 45-50% in 2027, boosting overall operating profit margins from XXXX% to 14%. High-value products such as liquid cooling and power cabinets are simultaneously driving up ASP and market share, strengthening the company's profitability
XXXXX engagements
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