Continuous miniaturization of feature size, faster operation and high-end performance of processor are facing serious problems to dissipate heat. In this numerical work, the surface temperature of the processor, heat transfer rate, power consumption and reliability of channel heat sink for processor handling TiO2-water and CuO-water nanofluids at three-volume fractions as a coolant are studied using CFD software package. The power dissipation of the Intel processor was in the range of 16-135 W. The TiO2-water and CuO-water nanofluids at a volume fraction of 0.3%, 0.6%, and 0.9% was used as a coolant. It is observed that the heat transfer rate of CuO-water nanofluids at 0.3%, 0.6%, and 0.9% are 5%, 7%, and 9%, respectively, higher than that of TiO2-water nanofluid. It is found that the power consumption of the processor reduces by 2%, 3%, and 5% at the volume fraction of 0.3%, 0.6%, and 0.9%, respectively, than TiO2-water nanofluids as coolant. The failure rate of the processor using CuO-water nanofluid was found to be 17%, 10%, and 8% lesser than the TiO2-water nanofluids at the three-volume fractions, respectively.