A combined liquid and air cooling system is provided over a printed circuit board (PCB) of an electronic device, where the PCB includes an integrated circuit package including an application specific integrated circuit (ASIC) die and a plurality of high bandwidth memory (HBM) modules located proximate the ASIC die, and the combined liquid and air cooling system includes a liquid cooling system located over the integrated circuit package and an air cooling system integrated with the liquid cooling system and a portion of the PCB. The system operates in a normal mode, where both liquid and air cooling systems provide cooling to components of the PCB, and a fail-safe mode, where the liquid cooling system is not operating (e.g., due to a detected condition) but the air cooling system operation is adjusted such that it provides sufficient cooling to PCB components which facilitates continuous operation of the electronic device.