Aaon’s data center copportunity not changed by Rubin chips, says William Blair

Aaon (AAON) shares fell 8% on concerns that Nvidia’s (NVDA) Rubin chips reduce the need for chillers, but this appears overdone and creates a buying opportunity, William Blair tells investors in a research note. Data center cooling demand remains intact, with excess heat still requiring solutions such as free-cooling chillers, CDUs, dry coolers, and airside cooling, all areas where Aaon has existing offerings, the firm says. William Blair has an Outperform rating on Aaon shares.