USA Rare Earth announced on June 16 that it had signed an agreement with Moog Electric Motion Solutions to supply magnets for cooling pumps in data centers. The company did not disclose the quantity, price, or whether the memorandum of understanding was binding. According to Moog, rare earth magnets are crucial for meeting the growing cooling demands of data centers. American Rare Earths aims to commence production of NdFeB magnets in 2026, with a target full-capacity output of 5,000 mt per year. American Rare Earths has already signed rare earth offtake agreements with companies in the US and South Korea and is constructing a sintered magnet factory in Stillwater, Oklahoma.