Summary Bullets:

• Data center cooling has become an increasingly insurmountable challenge because AI accelerators consume massive amounts of power.

• Liquid cooling adoption is progressively evolving from experimental to mainstream starting with AI labs and hyperscalers, then moving into the colocation space and later enterprises.

As Generative AI (GenAI) takes an ever-stronger hold in our lives, the demands on data centers continue to grow. The heat generated by the high-density computing required to run AI applications that are more resource-intensive than ever is pushing companies to adopt ever more innovative cooling techniques. As a result, liquid cooling, which used to be a fairly experimental technique, is becoming more mainstream.

Summary Bullets:

• OpenAI released GPT-5 on August 7, 2025, a multimodal large language model (LLM) with agentic capabilities.
• This is the latest iteration of the famous chatbot, and the most important upgrade since the release of the previous generation, GPT-4, in 2023.

As it happens sometimes when a product is thrust with such force into the realm of popular culture, the release of GPT-5 sparked a veritable PR crisis, leading CEO Sam Altman to make a public apology and backtrack on the decision to remove access to all previous AI models in ChatGPT. Unlike enterprise customers, which received advanced warnings of such movements, consumer ChatGPT users did not know their preferred models would disappear so suddenly. The ensuing kerfuffle highlighted the strange co-dependency relationship that some people have developed with the technology, creating no end of background noise surrounding this momentous release.

Summary Bullets:

• CoreWeave’s IPO was the first time an AI startup went public since the beginning of the generative AI (GenAI) boom.

• The IPO market has been very slow against the backdrop of an increasingly volatile geopolitical environment.

The data center operator CoreWeave made headlines as it went public last week. Its IPO, initially estimated to reach up to $32 billion, went down to $23 billion in the days prior to its stock market debut. CoreWeave rents out computing power to big tech companies building out large language models (LLMs). The company relies heavily on two major customers: Microsoft and OpenAI. The latter, alongside Nvidia, is a stakeholder in CoreWeave.