VRT

Vertiv

Liquid cooling, power distribution.

Last

$301.16

Change

-3.01%

Market cap

$115.2B

60-day price

Near-term (0-6mo)

Earnings 4/22 — liquid cooling order book, thermal management revenue, and power distribution backlog. GB200 NVL72 racks require ~100kW+ liquid cooling per rack.

Mid-term (6-24mo)

Liquid cooling is becoming mandatory for next-gen AI racks (>50kW/rack). Vertiv's CDU (coolant distribution unit) and rear-door heat exchangers are in high demand. The question is whether Vertiv can scale manufacturing fast enough.

Catalysts

Q1 earnings 4/22 — 6 days away
Liquid cooling order backlog data
New product announcements for >100kW rack cooling

Risks

Competitors (Schneider, nVent, CoolIT) entering liquid cooling aggressively
3% drop today suggests some positioning risk into earnings
Revenue lumpiness from large hyperscaler orders

Options flags

earnings_soon · Apr 16, 2026

Earnings on 2026-04-22 (5d out). Expect elevated IV into print; avoid buying OTM monthlies the day before.

monthly_liquid · Apr 16, 2026

Monthly Apr 16, 2026 chain likely liquid. Prefer ATM/ITM-20 over OTM to force discipline.

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