Q3 2025 Data Center Technology: Infrastructure Innovation at the Edge Report

SAN FRANCISCO | August 14^th, 2025 – Mavka Capital released its Q3 2025 Data Center Technology: Infrastructure Innovation at the Edge report, capturing the sector’s accelerating transformation as AI adoption, sustainability requirements, and hyperscale demand reshape the competitive landscape.

The report identifies cooling innovation, water-use efficiency, and orchestration software as the technologies setting the pace for the next phase of growth. Global data center CapEx surged 51% in 2024 to $455 billion and is projected to surpass $1 trillion by 2029, with the largest hyperscalers driving over half of this spend. Municipalities and regulators are increasingly favoring solutions that reduce resource intensity – offering a strategic edge to companies that can deliver both performance and ESG gains.

Key findings include:

• Cooling accounts for 30%+ of data center energy use, with rapid adoption of immersion and direct-to-chip systems from innovators such as Submer, Iceotope, LiquidStack, CoolIT, and ZutaCore.

• Water usage effectiveness (WUE) is emerging as a market and regulatory lever, with immersion cooling sharply reducing consumption.

• Orchestration software is becoming core infrastructure, with StackPath, Pliops, and Vapor IO raising significant capital to optimize compute, storage, and energy resources.

• Recent strategic transactions include Schneider Electric acquiring Iceotope, Microsoft acquiring Fungible, KKR’s platform acquisition of CoolIT, and EQT acquiring EdgeConneX.

• Infrastructure fundraising is rebounding, channeling billions into ESG-aligned retrofits, modular builds, and AI-first facilities.

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