A cooling and vapor management system for computing components comprising: a pressure controlled vessel (110, 710) configured to hold a volume of thermally conductive, condensable dielectric fluid in liquid and gas phase; a pressure controller to reduce an interior pressure of the pressure controlled vessel (110, 710) below atmospheric pressure; a condenser for condensing gas phase dielectric fluid to liquid phase dielectric fluid; a power supply operably connected to a power distribution system; characterized in that: the power distribution system is configured to convert alternative current power to direct current power and the power distribution system is configured to be at least partially submerged within the liquid phase of a volume of thermally conductive dielectric fluid; and the cooling and vapor management system further comprises a vapor management system comprising a vapor storage unit (614, 905) operatively coupled to the pressure control vessel (110, 710) wherein the vapor storage unit (614, 905) comprises a valve for allowing air into the vapor management system to reduce a temperature of the vapor of the dielectric fluid, wherein the vapor storage unit (614, 905) is operably connected to a carbon bed to separate the vapor of the dielectric fluid from air. a pressure controlled vessel (110, 710) configured to hold a volume of thermally conductive, condensable dielectric fluid in liquid and gas phase; a pressure controller to reduce an interior pressure of the pressure controlled vessel (110, 710) below atmospheric pressure; a condenser for condensing gas phase dielectric fluid to liquid phase dielectric fluid; a power supply operably connected to a power distribution system; characterized in that: the power distribution system is configured to convert alternative current power to direct current power and the power distribution system is configured to be at least partially submerged within the liquid phase of a volume of thermally conductive dielectric fluid; and the cooling and vapor management system further comprises a vapor management system comprising a vapor storage unit (614, 905) operatively coupled to the pressure control vessel (110, 710) wherein the vapor storage unit (614, 905) comprises a valve for allowing air into the vapor management system to reduce a temperature of the vapor of the dielectric fluid, wherein the vapor storage unit (614, 905) is operably connected to a carbon bed to separate the vapor of the dielectric fluid from air. the power distribution system is configured to convert alternative current power to direct current power and the power distribution system is configured to be at least partially submerged within the liquid phase of a volume of thermally conductive dielectric fluid; and the cooling and vapor management system further comprises a vapor management system comprising a vapor storage unit (614, 905) operatively coupled to the pressure control vessel (110, 710) wherein the vapor storage unit (614, 905) comprises a valve for allowing air into the vapor management system to reduce a temperature of the vapor of the dielectric fluid, wherein the vapor storage unit (614, 905) is operably connected to a carbon bed to separate the vapor of the dielectric fluid from air.