Palm Beach, FL – December 10, 2024 – Due to the high computational needs of Artificial Intelligence (AI) and media applications, data centers are being increasingly deployed worldwide. These data centers consume a massive amount of power, generating a significant amount of heat, further creating the need for various efficient cooling systems. The data center cooling market is expected to show substantial growth due to the increase in digitization worldwide, which will lead to greater computer performance and require a larger number of integrated small chips. The design of data centers and the need to cool them are mainly influenced by powerful computer hardware for AI workloads. Manufacturers are introducing large silicon chips to optimize the performance of artificial intelligence and high-performance computing workloads. The use of powerful GPUs in artificial intelligence and high-performance computing environments supports the need for data center cooling technologies. A recent report from ReserachAndMarkets projected that the Data Center Cooling Market size is estimated at USD 16.56 billion in 2024, and is expected to reach USD 34.51 billion by 2029, growing at a CAGR of 15.82% during the forecast period (2024-2029). The report said: “The exponential growth of data generated by information technology significantly necessitates efficient data centers, driving demand for advanced cooling solutions. As data centers expand to accommodate increasing workloads and storage demands, the heat generated becomes a significant matter of concern, creating a demand for effective cooling solutions.” Active companies in news today include: KULR Technology Group, Inc. (NYSE: KULR), NVIDIA (NASDAQ: NVDA), Core Scientific (NASDAQ: CORZ), CleanSpark Inc. (NASDAQ: CLSK), Coinbase Global, Inc. (NASDAQ: COIN).
ReserachAndMarkets continued: “The adoption of cloud storage has been increasing over the years. To provide more efficient work processes, cloud storage providers such as Microsoft, AWS, and Google are expanding their capacity to store in the cloud. These companies make their investments in hyperscale transactions. As a result, the demand for data center cooling systems is expected to grow due to the growth of Software-as-a-Service, enabling cloud storage providers to expand their capacity. As of March 2024, there were 5,381 data centers in the United States, the highest worldwide. Around 521 were located in Germany, while 514 were located in the United Kingdom. Hence, with the rise in the number of data centers, the market is expected to witness significant growth throughout the forecast period. It concluded: “The APAC region is estimated to witness the fastest growth rate during the forecast period, mainly due to the rapid development of the network infrastructure. The demand for data generation is increasing in the region, and government policies are promoting more energy-efficient infrastructure, especially in countries like India and China. Also, advancements in technologies such as AI-driven cooling management and liquid cooling systems are reshaping the landscape, driving further adoption in the region.”
KULR Technology Group, Inc. (NYSE American: KULR) Xero Vibe Solution Launches on NVIDIA Jetson Edge AI Platform – KULR Technology Group, Inc. (the “Company” or “KULR”), a global leader in energy management and vibration reduction solutions, today announced the launch of its innovative KULR Xero Vibe
(“KXV”) solution integrated with the NVIDIA Jetson edge AI platform. This new rollout combines superior vibration mitigation with artificial intelligence capabilities to enable high-performance, reliable operation in edge AI environments.
The NVIDIA Jetson platform, known for its powerful edge AI computing capabilities, offers unparalleled performance for edge applications such as robotics, autonomous machines, industrial IoT, and smart cities. KULR’s Xero Vibe solution complements the Jetson platform by addressing key operational challenges such as vibration suppression, ensuring optimal cooling system performance, reduced energy consumption, and extended mechanical lifespans.
KULR CEO Michael Mo highlighted, “The Jetson platform is NVIDIA’s Industrial AI-at-the-edge solution to connect the physical world to the Omniverse through AI agents for the Industrial Revolution 4.0. It’s the perfect platform for KULR to integrate our KXV technology and provide our customers a future proof AI-agent powered energy management edge device solution for data centers, renewable energy, electric mobility and industrial cooling applications. We are very excited to embark on this new era of AI-agent powered future with the NVIDIA platform.”
The edge AI market size is projected to grow from $24.05 billion in 2024 to $356.84 billion by 2035, representing a CAGR of 27.786% during the forecast period 2024-2035.
Key Features of the KULR Xero Vibe Solution:
- Advanced Vibration Mitigation: KULR Xero Vibe utilizes proprietary vibration reduction technology to minimize mechanical stress, enhancing the reliability and longevity of AI edge devices.
- Seamless AI Integration: While reducing vibration to virtually zero , KULR Xero Vibe is enhanced by NVIDIA Jetson platform’s real-time data processing and machine learning at the edge, unlocking new possibilities for AI-driven operations.
- Durability in Harsh Environments: Designed for rugged and mission-critical use cases, the KXV solution supports operations in extreme conditions, making it ideal for industrial, aerospace, and defense applications.
Applications Across Industries:
The KULR Xero Vibe solution unlocks transformative opportunities across various sectors, including:
- Data Centers: Enables data center fan cooling systems to run more efficiently and environmentally friendly which lowers operational and capex costs.
- Wind-Powered Turbines: Diminished mechanical breakdown extends system lifespan leading to increased energy efficiency.
- Bitcoin: Lowers energy consumption by generating less noise and reduced mechanical wear and tear in proof-of-work mining applications.
- Robotics: Ensures seamless operation in precision robotics for industrial automation.
- Aerospace, Defense, and Electric Aviation: Enables robust performance in mission-critical applications requiring ruggedized systems. For more information about the KULR Xero Vibe solution, visit www.kulrtechnology.com. CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/
In other developments in the markets of note:
NVIDIA (NASDAQ: NVDA) recently announced it is opening its first Vietnam research and development center, signaling its confidence in the country’s bright artificial intelligence future. The company is collaborating with the Vietnamese government to establish its new Vietnam Research and Development Center focused on AI. NVIDIA will use the R&D center to focus on software development, capitalizing on the country’s strong talent pool of STEM engineers, and to engage industry leaders, startups, government agencies, universities and students to accelerate the adoption of AI.
“We are delighted to open NVIDIA’s R&D center to accelerate Vietnam’s AI journey,” said Jensen Huang, founder and CEO of NVIDIA. “With our expertise in AI development, we will partner with a vibrant ecosystem of researchers, startups and enterprise organizations to build incredible AI right here in Vietnam.”
Block, Inc., a global technology company with a focus on financial services, and Core Scientific (NASDAQ: CORZ), one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America, previously announced an agreement to supply Core Scientific with Block’s new 3 nanometer (3nm) mining ASICs, built by the Proto team, representing approximately 15 EH/s (exahashes per second) of hashrate. The agreement provides the option for additional, significant volume and is one of the industry’s largest bitcoin mining ASIC agreements announced, in terms of hashrate.
In support of its mission to democratize bitcoin mining, the Proto team at Block is developing a modular mining platform around its ASIC mining chip to deliver an innovative, integrated bitcoin mining solution that offers several advantages over existing mining system designs, resulting in improved efficiency, reliability, and uptime in large-scale mining operations. It’s designed to simplify infrastructure demands and optimize the use of space and operational resources within data centers such as those operated by Core Scientific and also prioritizes sustainability and compatibility by integrating with existing infrastructure and promoting the reuse of non-ASIC elements of the hardware stack.
CleanSpark Inc. (NASDAQ: CLSK) and GRIID Infrastructure Inc. (“GRIID”) previously announced that they have entered into a definitive merger agreement pursuant to which CleanSpark will acquire all the issued and outstanding common stock of GRIID in an all-stock transaction. The total enterprise value, including payment and assumption of debt, of the transaction is $155 million. Concurrent with the signing of the merger agreement, the companies also entered into an exclusive hosting agreement for all currently available power, of which 20 MW will be allocated to CleanSpark effective immediately.
Under the terms of the merger agreement, GRIID stockholders will receive shares of CleanSpark common stock based upon an exchange ratio equal to the quotient obtained by dividing the aggregate merger consideration by the total number of shares of GRIID common stock issued and outstanding as of the closing date of the merger. The aggregate merger consideration is equal to the quotient obtained by dividing (x) the sum of (i) $155,000,000 minus (ii) the amount of GRIID’s outstanding liabilities as of the closing date of the merger (net of cash on hand) by (y) $16.587 (which is the volume-weighted average price of CleanSpark’s common stock for the two consecutive trading days prior to the date of the merger agreement).
Coinbase Global, Inc. (NASDAQ: COIN) recently announced that Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the 51st Nasdaq London Investor Conference on Wednesday, December 11, 2024 at 1:30pm GMT / 8:30 am ET. A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.
In addition to filings with the Securities and Exchange Commission, Coinbase uses its Investor Relations website (investor.coinbase.com), its blog (blog.coinbase.com), press releases, public conference calls and webcasts, its X feed (@coinbase), Brian Armstrong’s X feed (@brian_armstrong), its LinkedIn page, and its YouTube channel as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
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