Aug. 3 at 10:52 PM
Did some organizing on the AI infrastructure companies I’ve been following and recommending for years.
The numbers are impressive:
Q2 organic growth + backlog growth:
$PWR
+27% organic growth
+49% backlog growth
$GEV
+12% organic growth
+37% backlog growth
$ETN
+14% organic growth
+37% backlog growth
$VRT
+18% growth
~
$20B backlog estimate
The AI boom is not only about chips.
Behind every GPU cluster are the companies building the power, electrical systems, cooling, and data center infrastructure needed to scale AI.
And the biggest spenders continue driving demand.
AI infrastructure is becoming a multi-year buildout, and the picks-and-shovels companies are showing real revenue and backlog growth.