Folks seem to be moving toward liquid cooling[4] either to the rack/chassis[5] or even to the chip[6].
[1] https://oxide.computer/blog/how-oxide-cuts-data-center-power...
[2] https://www.youtube.com/watch?v=4vVXClXVuzE
[3] https://www.youtube.com/shorts/hTJYY_Y1H9Q
[4] https://blogs.nvidia.com/blog/blackwell-platform-water-effic...
[5] https://datacentremagazine.com/data-centres/top-10-liquid-co...