In this article, we look at the 10 Fastest-Growing Data Center Cooling Stocks to Invest in Right Now.
Data center cooling has become one of the more urgent infrastructure themes inside the AI buildout. The International Energy Agency expects global data center electricity consumption to roughly double from 485 TWh in 2025 to 950 TWh in 2030, while electricity use from AI-focused data centers is projected to triple over the same period. In the US, the pressure is already visible. Lawrence Berkeley National Laboratory’s 2024 report for the Department of Energy estimated that US data centers consumed 176 TWh in 2023, equal to 4.4% of total US electricity consumption, and projected that figure could rise to 325 TWh to 580 TWh by 2028 under different growth scenarios.
Cooling is central to that equation because higher-density AI servers are changing the physical design of data centers. Uptime Institute’s 2025 Global Data Center Survey found that average PUE has shown little improvement for six straight years, with efficiency gains constrained by legacy infrastructure and cooling barriers. NVIDIA has also noted that hyperscale racks that once operated at around 20 kW can now support more than 135 kW, making heat removal far more challenging. That shift is pushing demand toward liquid cooling, advanced HVAC systems, heat exchangers, cold plates, coolant distribution units, and other thermal-management technologies.
Methodology
To compile our list of the fastest-growing data center cooling stocks, we screened publicly traded companies with exposure to data center cooling, including facility-level HVAC systems, liquid-cooling infrastructure, and server/rack-level thermal-management components. We then selected stocks that had the highest year-over-year revenue growth rate. Companies with severe balance sheet stress, persistent going-concern risk, or weak relevance to data center cooling were excluded from the final list.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10. EMCOR Group, Inc. (NYSE:EME)
EMCOR Group, Inc. (NYSE:EME) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s current investor angle is its role in complex infrastructure work for data centers and high-tech manufacturing projects, where mechanical construction, HVAC, chiller services, piping, controls, electrical distribution, and ongoing facilities support are central to keeping mission-critical sites operational. On May 28, 2026, Oppenheimer initiated coverage of EMCOR with an Outperform rating and a $1,100 price target, citing the company’s exposure to data center development and high-tech manufacturing projects.
The growth profile supports that view. On April 29, 2026, EMCOR reported first-quarter revenue of $4.63 billion, up 19.7% year over year, while organic revenue increased 16.8%. Remaining performance obligations reached a record $15.62 billion, up 32.9% from a year earlier, giving the company solid visibility across complex construction and services work. EMCOR’s own data center capabilities include infrastructure design-build, prefabrication, HVAC, chiller services, piping and sheet metal fabrication, temperature and process controls, testing and balancing, and ongoing mechanical and electrical support. That makes EMCOR a cooling-infrastructure contractor rather than a pure-play cooling equipment company.
EMCOR Group, Inc. (NYSE:EME) provides mechanical and electrical construction services, building services, industrial services, energy infrastructure, facilities services, HVAC, plumbing, controls, fire protection, and related solutions.
9. SPX Technologies, Inc. (NYSE:SPXC)
SPX Technologies, Inc. (NYSE:SPXC) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s growth story is increasingly tied to its HVAC backlog and rising demand from data center customers. On June 10, 2026, Trefis noted that SPX is investing more than $100 million to expand HVAC manufacturing capacity as demand for data center cooling products rises. The company’s HVAC segment revenue increased 22% year over year in the first quarter, while HVAC backlog reached $755 million, up 38% organically, primarily driven by data center demand. SPX also expects data center sales to rise about 50% in 2026, making cooling one of the clearer growth engines inside its HVAC portfolio.
The product angle supports that demand. On April 29, 2026, SPX Cooling Tech launched the Marley OlympusMAX Fluid Cooler, a modular dry and adiabatic cooling platform built for data centers, industrial plants, and high-density cooling applications. SPX said the unit can be configured in dry or adiabatic versions, includes a bolt-on adiabatic module that can be installed at the factory, in the field, or after the system is operating, and is designed to improve energy and water-use predictability for hyperscale data centers.
SPX Technologies, Inc. (NYSE:SPXC) provides highly engineered products and technologies across HVAC and detection and measurement markets, including cooling towers, fluid coolers, adiabatic cooling systems, dry coolers, air movement products, and related infrastructure technologies.
Hedge Fund Resource Center