US rare earth magnet producer USA Rare Earth (USAR) and Moog Electric Motion Solutions have signed an agreement to supply magnets for cooling pumps in data centers. According to USAR on Monday, Moog will provide USAR's new-type magnets for precision cooling pumps used in its data centers. However, the company did not disclose specific quantities, prices, or whether the memorandum of understanding was binding. Moog emphasized that rare earth magnets are crucial for meeting the growing cooling demands of data centers. Additionally, USAR aims to commence production of neodymium magnets in 2026, striving to achieve a full capacity of 5,000 mt per year. Meanwhile, USAR has signed rare earth offtake agreements with companies in the US and South Korea and is constructing a new sintered magnet factory in Stillwater, Oklahoma.