AI is reshaping how much power the digital economy needs, and the Federal Reserve is openly asking what that means for inflation and interest rates. That mix of heavy infrastructure demand and policy uncertainty is pulling fresh attention toward the quiet workhorses of the grid. This article walks through 3 stocks whose businesses are closely tied to AI data center power needs and explains why the Fed’s debate could matter for your portfolio decisions.
The stocks covered below are only a sample, and the full screen surfaced 53 more U.S. power and grid players with AI data center angles that are not included here but carry similarly interesting stories for investors to weigh up. If you want to move quickly from ideas to a focused watchlist, head straight into the US AI Data-Center Power & Grid Infrastructure Stocks screener to identify, analyze, and prioritize the potential opportunities that best match your own risk and return preferences.
Everus Construction Group (ECG)
Overview: Everus Construction Group provides electrical, mechanical, and transmission and distribution construction services that support large scale U.S. infrastructure and data center projects.
Operations: Everus Construction Group generates about US$3.8b from Electrical & Mechanical work and US$918.9 million from Transmission and Distribution, all in the United States.
Market Cap: US$4.6b
Everus Construction Group lines up neatly with the screener’s AI data-center power theme. The analyst consensus Narrative on Simply Wall St outlines why its grid-heavy backlog and project mix have drawn fresh attention from investors watching how AI infrastructure spending interacts with Fed policy debates.
"Escalating power infrastructure needs tied to data centers, electric vehicles, industrial reshoring and undergrounding are supporting sustained T&D backlog growth and higher revenue visibility, reinforcing multi year revenue expansion."
What happens to Everus Construction Group’s earnings power if a single key assumption about future high complexity project demand quietly shifts direction?
If that assumption matters to your thesis, read the full narrative for Everus Construction Group to see how AI buildouts, Fed policy and project risk could be quietly reshaping Everus Construction Group.
Primoris Services (PRIM)
Overview: Primoris Services builds and maintains natural gas, electric utility, and communications infrastructure, plus energy and transportation projects that underpin data center power.
Operations: Primoris generates about US$4.4b from Energy projects and US$2.8b from Utilities work, mainly across the United States with modest Canadian exposure.
Market Cap: US$3.8b
Primoris Services matters for this AI power and grid theme because, as the analyst consensus Narrative on Simply Wall St notes, its utility and energy construction work places it directly in the path of rising data center power demand while the Fed is debating how AI driven infrastructure spending might intersect with interest rates.
"The surging demand from data center development is now reinforced by the PayneCrest acquisition, which added roughly $200 million of backlog and about $250 million of new awards in its first reported quarter, much of it in hyperscale data centers."
The real swing factor for Primoris Services is how one unresolved pressure on project profitability plays out as that data center backlog turns into cash.
That pressure point on project profitability is exactly where the story turns, and the full narrative for Primoris Services explains how Primoris Services could convert backlog into accelerating earnings power.
SPX Technologies (SPXC)
Overview: SPX Technologies supplies engineered HVAC and detection solutions that help manage heat and efficiency in power intensive AI data centers and other infrastructure.
Operations: SPX Technologies generates about US$1.8b from Heating, Ventilation and Cooling and US$766.9 million from Detection and Measurement, with roughly US$2b coming from the United States.
Market Cap: US$7.7b
SPX Technologies matters for this AI power and grid screen because its cooling and air handling equipment directly supports reliable, thermally efficient data center operations. According to John_Eric, an investor in the Simply Wall St Community who wrote a detailed narrative on the business, the recent order trends help show why investors are paying closer attention.
"The HVAC backlog reached about $1.1 billion, up roughly 90% in total from $579 million a year ago (my arithmetic). Organically, it’s up 69%. The gap is acquired backlog: part of the growth was bought."
What happens to SPX Technologies’ future earnings power if one unseen pressure on turning that backlog into high quality margins quietly shifts direction?
If that quiet margin lever is what you are really weighing, read the full narrative for SPX Technologies to see how SPX Technologies’ backlog could translate into accelerating earnings quality.
Curious About What You Might Be Missing?
Fresh ideas move first, and the stocks that quietly build momentum can be flying by the time the crowd catches on. Scan under the radar for now and take time to evaluate your options.
- Target resilient income streams before yields get compressed by demand and rate shifts using a curated lineup of 6 dividend fortresses built to absorb shocks.
- Explore early stage AI momentum before it is fully priced in by screening a focused set of 43 profitable AI stocks that aren't just burning cash already turning technology into cash flow.
- Prepare for commodity sentiment swings by tracking a refined pool of 33 elite gold producer stocks that combine production scale with disciplined financial profiles.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com