A lot of the high-end datacenter racks are getting water cooling now—you have a unit in the base of the rack that distributes water to all the servers above with a couple redundant pumps/PSUs.
Some systems are even water cooling random little components for completely fanless 1U/2U servers... I wonder about the longevity of those systems though!
With the water cooling, you can pipe all that water out to chillers and at a certain heat volume it makes more sense than handling all the heat in air exchangers.
Right, but that's not what AMD is doing here. They're using water to move heat a few inches. Heat pipes should be more efficient at that distance.