THE AI INTERVIEW
“ When we roll out of bed every day, all we do is liquid cooling. A lot of our competitors have hundreds or even thousands of products – and cooling is just one of the things they do.”
Encompassing everything from twophase immersion systems to direct-to-chip solutions, the company’ s unusual trajectory – pioneering two-phase cooling before expanding into simpler technologies – defies conventional market entry strategies.
“ We started out doing two-phase, which is really hard to perfect and manufacture. The market is coming towards us as chip TDPs continue to increase and rack density continues to increase,” he says.
AI like liquid cooling: The unstoppable force The liquid cooling revolution appears inexorable, driven by the physical limitations of traditional cooling methods and the relentless advance of AI workloads.
“ It’ s like nobody said we needed iPhones. If you look at AI, you probably see it in your email where all of a sudden a feature just arrives and you’ re like,‘ whoa, where did that come from?’ It’ s proliferating across all businesses.
“ There’ s so much interest in either transacting the business or going public,” he notes.
“ At some point we will either go public or become part of a larger organisation that has additional resources to help us grow and scale faster than we can as a standalone.
“ Most of our customers realise that it’ s indomitable – nothing’ s going to stop it,” he concludes.
32 September 2025