Legacy air handles under ~30-50 kW per rack — my vast installed base. I'm a portfolio, not a parade: hybrid air-liquid (rear-door plus coolant overlays) owns 50-100 kW mainstream because it retrofits; direct-to-chip takes the 100-240 kW AI band; immersion stays hyperscaler experimentation at 240+ kW, greenfield-only. Operators' surveys put retrofit ease at 46% top criterion — brownfield moves through hybrid stages while new AI campuses jump to direct-to-chip. Keynote architecture and deployed architecture are different data series.