New York, January 6, 2026, 19:43 EST — After-hours
- Trane Technologies shares last down 2.5% at $381.10 in after-hours trading.
- Nvidia CEO Jensen Huang’s CES remarks on reduced data-center cooling needs triggered selling across HVAC suppliers. 1
- Trane’s next quarterly results are expected around Jan. 29, a key checkpoint for demand and guidance. 2
Trane Technologies plc shares closed down 2.5% on Tuesday at $381.10 and were steady in after-hours trading. The move followed comments from Nvidia CEO Jensen Huang that next-generation chips would reduce cooling requirements in data centers, the buildings that house computer servers. 3
Trane fell as much as 10.7% earlier in the session before trimming losses, underlining how sensitive the stock has become to shifts in the AI infrastructure trade. Barclays analyst Julian Mitchell wrote, “Given the primacy of Nvidia to the whole AI ecosystem, one should not take their comments lightly, although they seem rather dramatic at first glance,” and estimated data centers make up about 10% of Trane’s business. 4
Huang made the remarks at CES in Las Vegas on Monday, saying the Vera Rubin platform is in “full production.” He added that “no water chillers are necessary for datacenters”—water chillers are large units used to cool water that circulates through cooling systems. 5
Other makers tied to data-center cooling also slid sharply at points during the session, including Johnson Controls, Carrier Global and Modine, Fast Company reported. Baird analyst Timothy Wojs wrote that “The comments create some questions/concerns about the longer-term positioning of chillers within data centers over time.” 6
Trane has fallen for a second straight session and sits about 20% below its 52-week high, MarketWatch data showed. Trading volume rose to about 4.3 million shares, well above its 50-day average of roughly 1.3 million, even as the S&P 500 climbed 0.6%. 7
Trane sells heating and cooling systems, building controls and energy services, along with transport refrigeration through its Trane and Thermo King brands. It operates across the Americas, Europe, Middle East and Africa, and Asia Pacific, according to a Reuters company profile. 8
The company has not confirmed the date for its next quarterly release, but it is expected around Jan. 29 based on its reporting pattern, MarketBeat said. Investors will listen for any change in management’s view of data-center orders and whether liquid cooling — which uses liquid to carry heat away from processors — is reducing demand for traditional chiller-heavy systems. 9
But Nvidia’s comments are not a forecast for spending, and shifts in cooling design can take years as operators balance cost, reliability and redundancy. A sharper-than-expected pullback in data-center capital spending, or a faster move away from chiller-intensive designs, would weigh on Trane’s growth outlook.
For Wednesday’s session, traders will watch whether TT holds above the lows hit after the CES remarks and whether more chipmaker detail clarifies cooling needs. The next hard catalyst is Trane’s quarterly report and call expected around Jan. 29.
