The data center industry is attempting to alleviate the power demand by moving away from traditional air-cooled systems and turning to more expensive but highly effective liquid cooling solutions.

As news trickled out about President Trump’s announcement of a new $500 billion Stargate joint venture focused on artificial-intelligence infrastructure, some potential beneficiaries emerged.

Putting aside his vexing meme-coin launch before his inauguration, the president’s new artificial intelligence initiative, Project Stargate, has made waves across financial markets. Announced Tuesday, ...