Eaton acquired liquid-cooling specialist Boyd Thermal for $9.5 billion to pair with its electrical equipment business and offer hyperscalers a single provider across the power-and-cooling stack. Boyd contributed $432 million in its first full quarter, beating expectations 20%, and Eaton reports a 307 GW US data center backlog, equivalent to 15 years at 2025 build rates. The piece also documents political pushback from Pennsylvania and Texas governors restricting data center development and cites expert doubt about how much of the demand backlog is real versus duplicate 'ghost projects.' For financial institutions, this is a data point on both the depth of infrastructure demand and the growing friction (regulatory, political, demand-quality) testing it.
206 other tracked developments touching the same claims.