6 May 2026 | 11:35AM HKT Equity Research The rising role of RICE and SOFC as BTM prime power in AIDC In our deep dive report published in Feb, we highlighted that RICE and SOFC have increasingly been considered/adopted as the onsite prime power solutions for AIDC, especially in light of the backdrop that global supply for gas turbines will remain extremely tight till 2030. Since then, we have seen more evidence pointing to an accelerating trend. In particular, n Caterpillar (CAT, Coverage Suspended) comment ...