Liquid cooled AI racks still have a heat problem. And $NVT wants to help solve it. The interesting part of the $AMD Helios announcement isn't liquid cooling itself. It's the heat that remains after direct to chip cooling has done its job. nVent's new rear door heat exchanger is designed to handle that residual heat, showing how liquid and air cooling can work together rather than compete. But there's a catch: a product announcement doesn't tell us how many units will be sold or how much profit they'll generate. $NVT already has momentum: - Q2 sales of $1.47B - 47% organic growth - $167M in free cash flow It also spent $1.75B to close its Maverick Power acquisition, with up to another $550M in performance based consideration. Now it needs to prove that new products and acquisitions can earn attractive returns. With $VRT and $ETN also competing for AI infrastructure spending, the question is who captures the most profitable equipment content. Will residual heat cooling become a meaningful growth driver for $NVT, or is the market getting ahead of actual commercial adoption?