AI’s Backbone: 3 Infrastructure Stocks Power the Data Center Boom
AI’s boom hinges on more than chips—the power, cooling and grid connections behind data centers are becoming the key revenue stream. Eaton, Vertiv and Quanta Services sit upstream in this buildout: Eaton reports a 307 gigawatt US data-center backlog translating to about 15 years of work, Vertiv posted 24% revenue growth and $925 million in adjusted free cash flow in Q2 2026, and Quanta’s backlog reached about $48.5 billion. With valuations elevated across the group, these infrastructure plays offer exposure to AI demand beyond chipmakers, though project timing and grid-interconnection bottlenecks remain risks.
