Disrupting data-centre design: liquid cooling in the AI era (Veri Merkezi Tasarımında Ezber Bozan Yaklaşım – Yapay Zeka Çağında Soğutma Stratejisi: Sıvı Soğutma ile Dönüşen Veri Merkezleri)

Overview

This insight, published by KPMG Türkiye in May 2025 and written by Uğur Karakaya, is freely available. It addresses boards and investors and explains why liquid cooling is becoming necessary for AI data centres. According to the article, traditional air cooling supports about 70 kW per rack, while Blackwell-based systems need more than 120 kW per rack. The liquid-cooled server market is forecast to grow from $5 billion in 2023 to $35 billion in 2027, about 50% CAGR. Target densities are 100-200 kW per rack.

The cost comparison is notable: greenfield liquid design cuts the building footprint by 35-40% and doubles IT load per area, at about EUR 400-600k per MW. Late-stage densification of an existing building costs about EUR 1.2-1.5M per MW, and spare halls can host UPS and TES tanks. Designed properly, liquid cooling can match or beat air-cooling total cost of ownership.

Hidden loads are also listed: UPS-backed chillers for continuous cooling, TES tanks for outages, BMS-linked flow valves on each rack, and leak detection with drip trays. CRAH fan systems can shrink about 30%, but piping and valves become more complex. The article also stresses that industry connection and flow standards are still immature; it is a management-level opinion piece and contains no detailed engineering calculations.

Key points

1. Traditional air cooling supports about 70 kW per rack, while Blackwell-based systems need more than 120 kW per rack.
2. Liquid-cooled server market forecast to grow from $5 bn (2023) to $35 bn (2027), about 50% CAGR.
3. Target densities 100-200 kW per rack; greenfield liquid design cuts building footprint 35-40% and doubles IT load per area at about EUR 400-600k per MW.
4. Late-stage densification of an existing building costs about EUR 1.2-1.5M per MW; spare halls can host UPS and TES tanks.
5. CRAH fan systems can shrink about 30%, but piping and valves become more complex.
6. Hidden loads: UPS-backed chillers, TES tanks, BMS-linked flow valves on each rack, leak detection with drip trays.
7. Designed properly, liquid cooling can match or beat air-cooling TCO; industry standards are still immature.

Using it in design

• For racks above about 70 kW, warn that air cooling is insufficient and require a liquid-cooling path.
• When liquid cooling is selected, prompt for UPS on pumps/chillers, a TES ride-through tank, per-rack flow control and leak detection.
• Offer a scenario comparing greenfield and late-stage densification costs (about EUR 400-600k versus EUR 1.2-1.5M per MW).
• Label the cost figures as KPMG management-level estimates.

Who should read it

Boards and investors in AI data centers, and design teams evaluating the liquid-cooling decision.

Publication details

Authors

Uğur Karakaya

Publisher

KPMG Türkiye

Year

2025

Document language

English

Source type

Expert / community

Access

Free to read

Licence

Copyright retained; citation only — the publisher’s terms apply to the original document

Citation