Trane and Carrier see AI-driven demand for data center cooling

HVAC industry leaders Trane and Carrier are seeing a surge in demand from data centers driven by the expansion of the AI market. As AI clusters require more intensive cooling due to high-performance chips from companies like Nvidia, hyperscalers are increasingly turning to established commercial chiller providers to meet their refrigeration needs.

Trane has seen significant growth, with its backlog reaching a record $12.1 billion in the second quarter of 2026, largely fueled by data center orders. Meanwhile, Carrier has undergone structural changes, including the acquisition of Viessmann Climate Solutions.

In separate financial news, Flossbach Von Storch SE acquired a new stake in TotalEnergies SE, purchasing approximately 397,364 shares valued at roughly $30.8 million during the second quarter. This follows various other institutional movements in TotalEnergies stock.