Disclosed herein is computer system having a first and second multiple chip modules (MCM) and a cooling module. The cooling module includes a first cooling loop associated with said first MCM and a first evaporator. The cooling module further includes a second cooling loop associated with said second MCM and a second evaporator. Each cooling loop is coupled to a common condenser that receives thermal energy from each cooling loop. A controller is coupled to the first and second cooling loop and adapts the operation of the first and second cooling loop in response to variances in operating conditions to provide cooling of the first and second MCM.