Comment by quickthrowman

Each rack has a water (and glycol?) loop and water blocks mounted to the chips with a liquid-liquid heat exchanger that interfaces with the building chilled water loop (glycol and water), there’s no immersion.

It works like a nuclear power plant cooling system if you want to look an a diagram that is easily available. The radiated core water loop is equivalent to the rack water loop and the cooling water piping is equivalent to the chilled water loop, the difference being that data centers recirculate their chilled water loop water while nuclear plants generally discharge the water after it has passed through cooling towers.