The US stock market performed well today, with the Dow Jones Industrial Average and the S&P 500 both hitting new record closing highs. The storage chip sector was the biggest winner—Micron Technology rose over 10%, SanDisk surged more than 27%, Western Digital followed with an increase of over 16%, and Seagate Technology also closed up 14%. This rally reflects the market’s optimistic outlook on data storage demand.

Interestingly, data center cooling concept stocks collectively came under pressure. Johnson Controls fell over 6%, Trane Technologies and Modine Manufacturing declined more than 2% and 7%, respectively. This adjustment may be related to the latest cooling solutions announced by chip giants—at CES, industry executives revealed that servers equipped with the new generation Rubin chips do not require water cooling systems to meet temperature control needs, with airflow costs roughly on par with the previous Blackwell architecture. This may ease market expectations for high-cost cooling solutions.

Most Chinese concept stocks weakened. Hesai Technology and Xiaopeng Motors showed relative resilience, rising over 10% and 5%, respectively, and Huazhu also gained more than 4%. However, BOSS Zhipin dropped over 6%, Tencent Music and Alibaba declined more than 3%, while Xpeng Motors and JD.com saw slight declines. The NASDAQ China Golden Dragon Index closed down 0.78%.