The only thing new about this might be the liquid used. If they used something new. Others have played with immersion before and 3M has had a product for that application for some time (I remember someone from 3M giving a talk on this very subject in Paris, 2012 I think). Direct liquid cooling might be fairly rare in datacentres, but it exists. For example, Supermicro makes a liquid cooled GPU server. Mellanox (now Nvidia) makes a liquid cooled switch (a milion dollar, 800 port beauty). Liquid cooling has been employed in computing since something like the '60s. Although typically used in mainframes and supercomputers, not your run of the mill HPC (the traditional methods can be complex and expensive since datacentres and leaks don't mix). There were liquid cooled blade servers about a decade ago, made by IBM and HP IIRC.