Stocks · Theme
AI datacenter infrastructure stocks · 96 research notes
96 AI datacenter infrastructure stocks with a dated research note: thesis, kill line and next catalyst.
Earlier themeNot among the research's active themes (last active 19 October 2026). Each stock's note below is dated on its own.
All 96 have a dated research note with a published kill line: the note's own test, stated in advance, of what would prove it wrong: a price level, a business fact, or both.
All stocksMSFTMicrosoftMedium Microsoft's shares are modestly more likely to lead the S&P 500 over three months because Azure grew 48% in the September quarter and is guided to 49–50% for December. The fiscal second-quarter report, expected in late January 2027, shows…AMDAdvanced Micro DevicesMedium Advanced Micro Devices is modestly more likely than not to beat the S&P 500: Helios AI racks and doubling server-processor sales back a $17 billion fourth-quarter guide and more than 80% revenue growth forecast for 2027. AMD's…AMZNAmazon.comMedium Amazon.com's shares are modestly more likely to beat the S&P 500 over three months as AWS revenue grew 39% last quarter on a $578 billion backlog; Anthropic's IPO pricing, expected around 18 November 2026, and the fourth-quarter report…ANETArista NetworksMedium Arista Networks' guide for about $18.5 billion of 2027 revenue, near 40% growth, gives its shares a modest edge over the S&P 500 after a rebound to $206.63 on 12 November 2026. Nvidia's 17 November 2026 results set the tone for AI…AVGOBroadcomMedium Broadcom's shares look modestly more likely to beat the S&P 500 over three months as Nvidia's CEO exit and Anthropic's near-priced IPO draw buyers to its custom AI chips. The 9 December 2026 fourth-quarter report, against a $21.7 billion…CBRSCerebras SystemsMedium Cerebras Systems is modestly more likely to beat the S&P 500 over three months after guiding fourth-quarter core revenue to $310–330 million, above the $271 million consensus, and adding Microsoft as a cloud customer. The fourth-quarter…CEGConstellation EnergyMedium Constellation Energy's third-quarter beat and raised $12.50–$12.80 guidance make its shares modestly more likely than not to beat the S&P 500; whether data-center limits spread into its mid-Atlantic states and the February report settle it.CRWVCoreWeaveMedium CoreWeave's third-quarter beat and 26% higher profit guide on 10 November 2026 give its shares a modestly better-than-even case against the S&P 500; the debt-funding plan, Microsoft's supplier review and Nvidia's leadership change decide…FPSForgent Power SolutionsMedium Forgent Power Solutions is modestly more likely than not to beat the S&P 500 over three months, after beating guidance and guiding fiscal second-quarter revenue to $560–590 million on 12 November 2026; the mid-March 2027 report settles…NSITInsight EnterprisesMedium Insight Enterprises' shares are modestly more likely than not to beat the S&P 500 because its raised 2026 earnings guidance ($13.55–$13.75 adjusted EPS) still outruns analysts' targets; the 2 December 2026 investor briefing and a mostly…PSIXPower Solutions InternationalMedium Power Solutions International's record third-quarter profit, raised second-half outlook and new multi-year engine supply deal support the shares beating the S&P 500. The fourth-quarter report, where management addresses 2027 data-center…TXNTexas InstrumentsMedium Texas Instruments' analog upturn, driven by data-center demand and pricing that lifted third-quarter 2026 revenue 28%, gives the shares a modest edge over the S&P 500. The late-January 2027 report, measured against the $5.80–6.30 billion…VSTVistraMedium Vistra Corp. shares lean toward beating the S&P 500 on 2027 adjusted EBITDA guidance of $7.7–8.5 billion. Texas data-center policy settles it: the December 2026 grid audit and the new governor's first moves after 19 January 2027.BABAAlibaba Group HoldingLow Alibaba's shares are more likely to lag the S&P 500 into the 19 November 2026 September-quarter report: cloud revenue grew 45% in the June quarter, but chip supply, Qwen pricing and funding costs are unresolved. The report shows whether…BEBloom EnergyLow Bloom Energy shares look more likely to lag the S&P 500 over three months: the 11 November rebound followed CoreWeave's results, while Oracle's 2.4 GW Project Jupiter still lacks its New Mexico air permit. The hearing that opens 7 December…BRUNBoost RunLow Boost Run's shares are more likely to lag the S&P 500 over the next three months: third-quarter 2026 revenue missed, a $13 million-a-month Georgia project slipped to 2027, and its 2027 hardware plan far exceeds its cash. The end-November…CATCaterpillarLow Caterpillar's shares look more likely to lag the S&P 500, as political risk to data-center building and margins near the bottom of target outweigh a record $78 billion backlog. The 2027 outlook, expected around 2 February 2027, shows…CSCOCisco SystemsLow Cisco Systems' shares look more likely to lag the S&P 500 over three months because product order growth slowed to 21% from 35% despite a raised outlook; the second-quarter report expected in mid-February 2027 shows whether orders recover.DELLDell TechnologiesLow Dell Technologies' shares look more likely to lag the S&P 500 while AI-spending doubts, data-center politics and memory costs drive the stock; the 24 November 2026 fiscal third-quarter report tests the 15.0% server margin and a $50.63…FRMIFermiLow Fermi Inc. shares are more likely to lag the S&P 500 over three months: a $200 million hyperscaler prepayment gives Project Matador a customer, but the 600-megawatt lease is unsigned and the 12 November 2026 10-Q flags going-concern doubt.…FRVOFervo EnergyLow Fervo Energy shares look more likely to lag the S&P 500 over three months: IPO lock-up supply and broker target cuts outweigh an $11.9 billion backlog. Cape Station's GeoBlocks 2 and 3 reaching commercial operation by 1 January 2027 decide…GOOGLAlphabetLow Alphabet's shares look more likely to lag the S&P 500 because Google Cloud's 103% growth has not yet paid for AI spending that turned free cash flow negative. Anthropic's IPO pricing, expected in the week of 16 November 2026, and the 2027…IRENLow IREN Limited's shares look more likely to lag the S&P 500, because its AI cloud ramp is behind its own $4 billion operating revenue-rate target while Microsoft reassesses neocloud deals. Operating annual recurring revenue reported against…MODModine ManufacturingLow Modine Manufacturing's shares are more likely to lag the S&P 500 over three months: data-center sales rose 95% in the quarter to 30 September 2026, but their gross margin fell to 19.7%. The 18 November 2026 Investor Day, where management…NBISNebius GroupLow Nebius Group's shares are more likely to lag the S&P 500 over three months because its 12 November 2026 report pushed Microsoft capacity into 2027 and raised 2026 spending to about $27 billion. The fourth-quarter report, expected around…NVDANVIDIALow NVIDIA's shares are more likely to lag the S&P 500 over the next three months because Jensen Huang's 12 November 2026 resignation left an interim CEO, an open board investigation and seven broker downgrades. The 17 November 2026 quarterly…ORCLOracleLow Oracle's shares look more likely to lag the S&P 500 over the next three months, as Microsoft's exit from rented capacity, a scrapped Tencent lease and heavy cash burn outweigh a peer-led rebound. The fiscal second-quarter 2027 report,…SMCISuper Micro ComputerLow Super Micro Computer's shares are more likely to lag the S&P 500 as record sales come with a 12.7% gross margin, a 44% customer and a new China export-control report. The December-quarter result, guided at $19.5–21.5 billion, settles it.SNDKSandiskLow Sandisk's shares look more likely to lag the S&P 500 as investors price a peak in NAND flash prices after October contract prices went flat. TrendForce's November prices, Micron's December report and Sandisk's late-January results will…SNXTD SYNNEXLow TD SYNNEX's Hyve server growth is consuming cash and the company just added a $1.75 billion term loan, so the shares are more likely to lag the S&P 500. The January fiscal Q4 report settles it by showing whether operating cash flow turns…XEX-EnergyLow X-Energy's shares are more likely to lag the S&P 500 over three months: the NRC approved Dow's Long Mott permit on 9 November 2026, but the 12 November 2026 report showed losses widening and first power stays in the early 2030s. Dow's 2027…ATEYYAdvantestHigh Advantest Corporation's AI chip-testing demand rests on customer volumes, and they are still rising: TSMC's October revenue, reported on 10 November 2026, rose 59.7% from a year earlier. A fear-led Tokyo selloff on 5 November 2026 and 6…AAONMedium AAON, the rooftop and data-center cooling maker, is modestly more likely to lead the S&P 500 over three months: a record third quarter and raised 2026 guidance lifted the shares from a $54.42 low. The fourth-quarter report and annual…ADIAnalog DevicesMedium Analog Devices is modestly more likely than not to beat the S&P 500 over three months on 40% industrial and AI data-center revenue growth; its 24 November 2026 report tests the $4.3 billion revenue guide.AEISAdvanced Energy IndustriesMedium Advanced Energy Industries is modestly more likely to beat the S&P 500 over three months: third-quarter revenue of $696.4 million beat its guide and fourth-quarter guidance is $735 million, yet the shares sit 42.4% below their 52-week…ALABAstera LabsMedium Astera Labs shares are modestly more likely than not to beat the S&P 500: third-quarter revenue of $584.9 million beat guidance and the $730–750 million fourth-quarter outlook tops consensus. The report expected around 10 February 2027…AOSLAlpha and Omega SemiconductorMedium Alpha and Omega Semiconductor is more likely than not to beat the S&P 500 over three months: AI and server chips passed 20% of revenue and December-quarter guidance of about $180 million tops consensus. The report due around February 2027…BLZEBackblazeMedium Backblaze's cloud-storage business is accelerating: the 2 November 2026 report beat guidance and raised the 2026 outlook, yet the shares remain far below August on CoreWeave credit fears. Revenue from CoreWeave's ramp in Q4 2026 settles it.CDWMedium CDW Corporation is modestly more likely to beat the S&P 500 over three months: AI server sales lifted third-quarter gross profit 10% and margin recovered to 20.5%. The fourth-quarter report, expected around February 2027, settles whether…CECOCECO EnvironmentalMedium CECO Environmental's third-quarter report showed orders of $777.6 million, backlog of $2,193.5 million and a raised 2026 free cash flow target; the next report decides whether the 2027 outlook of $2.1–$2.3 billion revenue holds.COHRCoherentMedium Coherent's raised guidance, a roughly $20 billion PhotonLink laser agreement and open-market buying by its CEO support shares still 46.7% below their June high. The fiscal Q2 report against the $2.55–2.75 billion revenue guide settles the…DIODDiodesMedium Diodes Incorporated is more likely to lead the S&P 500 over three months: third-quarter revenue rose 35.8% and the company guided the fourth quarter to about $550 million. The fourth-quarter report, expected around mid-February 2027,…FLEXMedium Flex Ltd. beat guidance and raised its fiscal 2027 outlook, and its Axiom spin-off stayed on track at the 10 November 2026 Innovation Day, yet the shares closed at $78.97 on 11 November 2026; the late-January 2027 third-quarter report…FNFabrinetMedium Fabrinet, which assembles optical parts for AI data centers, is modestly more likely than not to beat the S&P 500 over three months: revenue grew 51% and guidance rose, but the fiscal second-quarter report in early 2027 shows whether cash…LGNLegenceMedium Legence Corporation's third-quarter beat, raised 2026 outlook, first 2027 outlook and $150 million buyback make the shares modestly more likely than not to beat the S&P 500 over three months; the fourth-quarter report, expected around…MPWRMonolithic Power SystemsMedium Monolithic Power Systems' AI server power-chip sales are running ahead of expectations after a Q3 beat and a Q4 guide above consensus, and the shares have recovered from the 5 November 2026 chip sell-off. The Q4 report, expected in early…ONON SemiconductorMedium ON Semiconductor (onsemi) is modestly more likely to beat the S&P 500 because its AI data-center power revenue rose 175% to $180 million in the third quarter. The early-February 2027 fourth-quarter report, against a $1.715–$1.815 billion…RIOTRiot PlatformsMedium Riot Platforms now has a signed 910 MW Corsicana lease worth about $28 billion on top of Rockdale and AMD, so the shares are modestly more likely than not to beat the S&P 500; permanent project debt ahead of the Morgan Stanley bridge's 31…SANMSanminaMedium Sanmina's AI-rack business, built on the ZT Systems purchase, is more likely than not to lead the S&P 500 over three months after a quarter that beat guidance; the fiscal first-quarter report, expected around 26 January 2027, shows whether…SEISolaris Energy InfrastructureMedium Solaris Energy Infrastructure is modestly more likely than not to beat the S&P 500 over three months: it beat third-quarter guidance, raised its ranges and signed a 900-megawatt contract. Fourth-quarter results, expected about 24 February…SITMSiTimeMedium SiTime Corporation's timing chips for AI datacenters beat Q3 2026 expectations with $298.7 million of revenue and guided Q4 to $331-341 million, yet the shares closed at $444.45 on 10 November 2026; Q4 results decide whether growth outruns…STRLSterling InfrastructureMedium Sterling Infrastructure is modestly more likely to beat the S&P 500 over three months: it raised 2026 adjusted EPS guidance to $21.70–21.96 and trades at a lower multiple after a 47.7% fall. Nvidia's 17 November 2026 report and the…TTMITTM TechnologiesMedium TTM Technologies' record AI data-center board sales (third-quarter revenue $1.204 billion, up 60%) make the shares modestly more likely to beat the S&P 500 over three months after a 45.5% fall; the fourth-quarter report, expected around…VRTVertiv HoldingsMedium Vertiv's Q3 2026 report confirmed AI power-and-cooling demand: sales of $4,313M, full-year guide raised to $14,450M–$14,850M. The shares fell on AI-spending fear; the February 2027 report tests the $4,313M–$4,513M Q4 guide.AAOIApplied OptoelectronicsLow Applied Optoelectronics is more likely to lag the S&P 500 over three months: its $385–420 million fourth-quarter revenue guide trails consensus and a DSP chip shortage limits 1.6-terabit shipments. Nvidia's 17 November 2026 report tests AI…AGXArganLow Argan's order book shrank to $2.518 billion in its latest quarter, so the shares are more likely to lag the S&P 500 over three months; the third-quarter fiscal 2027 report, expected around 4 December 2026, shows whether new awards are…AKAMAkamai TechnologiesLow Akamai Technologies' AI cloud pivot has a 2027 outlook behind it, but the shares are more likely to lag the S&P 500 over three months: margins fell, debt is rising and Evercore ISI downgraded them. The fourth-quarter report, expected…ALGMAllegro MicroSystemsLow Allegro MicroSystems is more likely to lag the S&P 500 over three months: the shares closed at $31.71 on 12 November 2026, down 28.6% in three months despite a fiscal second-quarter beat. Fiscal third-quarter results around 29 January 2027…APHAmphenolLow Amphenol's record orders have not stopped the AI-hardware de-rating, and its shares look more likely to lag the S&P 500; Nvidia's 17 November 2026 results and Amphenol's late-January 2027 report decide whether data-center demand restores…APLDApplied DigitalLow Applied Digital's data-centre rent is growing, but financing for about 800 MW of unbuilt capacity at rising costs makes the shares more likely to lag the S&P 500 over three months; financing terms and fiscal Q2 2027 rental revenue settle…BHEBenchmark ElectronicsLow Benchmark Electronics' shares are more likely to lag the S&P 500 over three months: they closed at $64.81 on 12 November 2026, down 20.6% in three months, despite a 28 October 2026 beat and raised outlook; the early-2027 fourth-quarter…BTBTBit DigitalLow Bit Digital's shares are more likely to lag the S&P 500 over three months: revenue fell and missed, parent cash is about $5.0 million, and the shares hit a 52-week closing low of $0.66 on 13 November 2026. A turn in fourth-quarter cloud…BTDRBitdeer Technologies GroupLow Bitdeer Technologies Group is more likely to lag the S&P 500 over three months: cash of $213.7 million sits against about $1.95 billion of borrowings, and Johor slipped to 2027. Tydal Phase 1 delivery by 31 December 2026 settles whether…CIENCienaLow Ciena Corporation's shares are more likely to lag the S&P 500 over three months: optical orders look intact, but the stock closed at $293.99 on 12 November 2026, below falling moving averages. The fiscal-fourth-quarter report, estimated…CLSCelesticaLow Celestica is more likely to lag the S&P 500 over three months. Its AI-datacenter hardware business set a $40.0 billion 2027 revenue outlook on 26 October 2026, but the shares closed at $254.03 on 12 November 2026, still below their 50-day…CLSKCleanSparkLow CleanSpark's financed Georgia data-center lease is intact, but shares are more likely to lag the S&P 500 over three months: Texas permit risk, falling targets and falling mining output weigh. The fiscal fourth-quarter report, projected for…DGXXDigi Power XLow Digi Power X's pivot from bitcoin mining to AI data center hosting is more likely to lag the S&P 500 over three months: Phase 1 of its Alabama campus entering service in December 2026 and the $200 million debt financing closing by about 11…DUOTDuos Technologies GroupLow Duos Technologies is more likely to lag the S&P 500 over three months because its 20 MW, 10-year colocation contract deploys only from Q2 2027; the 16 November 2026 third-quarter report shows whether 2026 revenue nears the above-$50…EFXTEnerflexLow Enerflex's shares are more likely to lag the S&P 500 over three months: TD Cowen expects new US engine orders to pause over Texas permitting. The mid-December Texas grid audit and fourth-quarter bookings settle whether its record $2.136…ENPHEnphase EnergyLow Enphase Energy's core residential business is shrinking faster than its transformer pivot can offset, so the shares are more likely to lag the S&P 500; the fourth-quarter 2026 report, guided at $225–255 million, settles it.FCELFuelCell EnergyLow FuelCell Energy's data-center power case still has no firm order behind it beyond an initial 30 MW, and the shares are more likely to lag the S&P 500; the fiscal fourth-quarter report due in December settles it.GLWCorningLow Corning's shares are more likely to lag the S&P 500 as AI-infrastructure stocks sell off, even with fiber sales up 44% in Q3 2026; the Q4 report around 27 January 2027 is the next test.GLXYGalaxy DigitalLow Galaxy Digital's shares are more likely to lag the S&P 500 over three months: they trade below both moving averages and most Q3 profit came from trading gains, not rent. The fourth-quarter 2026 report, expected in February 2027, shows…HPEHewlett Packard EnterpriseLow Hewlett Packard Enterprise's shares look more likely to lag the S&P 500 as memory costs and data-center policy risk reprice AI hardware. The 23 November 2026 fiscal fourth-quarter report shows whether networking and Helios orders become…HUTHut 8Low Hut 8's shift from bitcoin miner to AI data-center landlord, with about $19.6 billion of contracted Beacon Point leases, is more likely to lag the S&P 500 over three months; the Texas grid decision expected around 17 December 2026 settles…IESCIES HoldingsLow IES Holdings' data-center electrical backlog is real, but the shares closed at $177.32 on 11 November 2026, 56.6% below the 52-week high, and are more likely to lag the S&P 500. The fiscal fourth-quarter report, expected near 20 November…KCKingsoft Cloud HoldingsLow Kingsoft Cloud's shares are more likely to lag the S&P 500: AI-cloud billings and a first operating profit have not stopped a 25.3% three-month fall; the 24 November 2026 Q3 report shows whether the profit repeats.KEELKeel InfrastructureLow Keel Infrastructure, the former Bitfarms bitcoin miner, is more likely to lag the S&P 500 over three months: it has no signed data-center lease and withdrew its 2026 lease goal on 5 November 2026. A first signed lease settles the case.KEYSKeysight TechnologiesLow Keysight Technologies' record AI-network test orders back the business, but the shares are more likely to lag the S&P 500 over three months after a 22.0% fall from the high; the 19 November 2026 report on revenue and fiscal 2027 guidance…KGSKodiak Gas ServicesLow Kodiak Gas Services shares are more likely to lag the S&P 500: they fell to $42.26 on 10 November 2026 after a third-quarter beat and raised guidance, and four brokers cut targets. A second signed data-center power contract, or on-time…MEIMethode ElectronicsLow Methode Electronics is more likely to lag the S&P 500: an unexplained 23.4% one-day fall on 5 November 2026 has only partly reversed, and the fiscal second-quarter report, estimated for about 2 December 2026, decides whether the $72–$82M…NOKNokiaLow Nokia's AI data-center sales are growing fast, but negative cash flow and a cut cash-conversion target make the shares more likely to lag the S&P 500 over three months; the fourth-quarter report, expected around 29 January 2027, settles…NTAPNetAppLow NetApp's flash-storage growth and raised fiscal-2027 outlook support its AI-storage case, but Barclays and Guggenheim tie much of the gain to memory-price pass-through, so the shares are more likely to lag the S&P 500 over three months.…PEverpureLow Everpure's shares look more likely to lag than lead the S&P 500: storage stocks are selling even strong results, and the shares fell 16.4% on 5 November 2026. The 18 November 2026 third-quarter report settles whether results back the…PENGPenguin SolutionsLow Penguin Solutions' AI-memory growth case is intact on the numbers, with fiscal 2027 guidance affirmed on 4 November 2026 and SK Hynix now a 9.1% holder, but the shares closed at $45.70 on 9 November 2026 on financing and inventory worries.…POWLPowell IndustriesLow Powell Industries' shares are more likely to lag the S&P 500 over three months: the record $2.4 billion backlog has not yet shown up in revenue, and the shares are down 33.6% in three months. The fiscal fourth-quarter report after the…RUMRumbleLow RUM Group, formerly Rumble, is more likely to lag the S&P 500 over three months: third-quarter revenue beat the guide, but the $13.7 billion Maysville contract is being reworked and has no financing. A disclosed funding package or a signed…SKMSK TelecomLow SK Telecom's ADRs are more likely to lag the S&P 500 over three months: AI data-center sales grew only 6.2% in the third quarter, so the case rests on its Anthropic stake, priced when trading is expected to open 19 November 2026.SPXCSPX TechnologiesLow SPX Technologies' cooling backlog passed $1.1 billion, but a cut to 2026 HVAC margin guidance leaves the shares below both moving averages and more likely to lag the S&P 500 over three months; the fourth-quarter report, expected around…STXSeagate Technology HoldingsLow Seagate Technology's shares are more likely to lag the S&P 500, because they trade on swinging AI-hardware sentiment while record margins are already reported; Nvidia's 17 November 2026 report and Seagate's late-January fiscal Q2 2027…THTarget HospitalityLow Target Hospitality's Q3 2026 report showed data-center housing revenue has started, but unchanged guidance and heavier borrowing left the shares at $10.30 on 10 November 2026; fourth-quarter results and sponsor selling settle the case.TSSITSSLow TSS, Inc. passed its third-quarter test: record AI rack integration revenue of $16.1 million and a raised profit outlook. The shares still closed at $6.96 on 10 November, so fourth-quarter integration revenue now has to prove the recovery.UNITUniti GroupLow Uniti Group's third-quarter report on 9 November 2026 missed on revenue and earnings and widened the guided FY2026 net loss to $590-620 million, so the shares remain more likely to lag the S&P 500 than lead it. The $4.20 close on 10…VICRVicorLow Vicor Corporation's patent royalties lifted third-quarter revenue to $197.1 million, but guidance implies a lower fourth quarter and the shares are more likely to lag the S&P 500; the late-February 2027 report settles whether royalties…WDCWestern DigitalLow Western Digital is more likely to lag the S&P 500 than lead it while fears of curbs on AI data centers outweigh its strong December-quarter guide. Nvidia's 17 November 2026 report and late-January 2027 results settle whether the $5.0–5.2…WULFTeraWulfLow TeraWulf's move from bitcoin miner to AI data-centre landlord is a delivery-timing story: the 6 November 2026 report pushed first CB-4 rent from September to Q4, and the first reported CB-4 rent settles it.