Vertiv and Bloom Energy see demand surge as data centers require power and cooling solutions for AI expansion.
Investors are shifting focus from AI chipmakers like Nvidia to infrastructure suppliers as data centers demand more power and cooling. The rotation targets companies providing essential hardware for AI clusters, which require massive electricity and thermal management systems.
Vertiv Holdings reported first-quarter revenue of $2.65 billion, up 30% year over year, with organic sales rising 23%. Adjusted earnings per share jumped 83% to $1.17, while operating margins expanded over four percentage points. The Americas region led growth, surging 44% on data-center strength.
The shift reflects broader industry trends, as hyperscalers expand cloud capacity and seek reliable power solutions. Bloom Energy, another beneficiary, supplies on-site fuel cells to supplement grid limitations.