US industrial companies are pivoting into the data centre market to boost growth, seeking a share of the hundreds of billions of dollars flooding into the sector as part of the artificial intelligence boom.
Gates Industrial and Generac are part of a coterie of publicly listed companies that are increasing efforts to build and sell specialist equipment, which includes backup power generators and cooling pumps, designed for so-called hyperscalers such as Amazon, Alphabet, Meta and Microsoft.
Honeywell, a $153bn North Carolina-based industrial giant that produces products from aeroplane engines to warehouse robots, is also trying to tap the fast-growing data centre market with its cooling solutions.
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