Sterling Infrastructure's larger, more complex campus jobs should bring pricing power and repeat customers. Its operating, free-cash-flow and EBITDA margins are 18%, 14% and 21%, versus IES Holdings' 12%, 6% and 14%; Sterling also has net cash and buybacks. IES is better value, but Sterling is the preferred business for site development and inside electrical work on AI data-center and semiconductor campuses, while IES's larger residential mix dilutes its data-center margins. x.com  x.com 

Sterling Infrastructure's year-over-year backlog growth and CEC outlook strengthen its AI-campus case. At 18.5x forward adjusted EPS before earnings, the risk/reward looked attractive after management flagged softer Q3 awards and a possible sequential backlog decline. Results beat expectations: signed backlog reached $4.14B (+61% YoY), combined backlog $6.14B (+78%), and 2026 adjusted EPS guidance rose to $21.70-$21.96. CEC revenue could top $1B in 2026, with improving margins. x.com  x.com 

Sterling Infrastructure looks like a bubble name carried along by the AI boom, at 17x book for a concrete company after a recent skyrocket. It has had three CFOs since 2024, the first lasting under nine months, and the current CFO stayed at his prior company, Orbital Infrastructure, through its 2023 bankruptcy. It lacks institutional ownership despite going from micro cap to multibillion valuation. It may be nothing, but it is not one to back. x.com 

Equinix's strengthening pricing power and widening competitive moat keep it among my favorite data center REITs. Q3 annualized bookings surged 35% to $533 million, AFFO per share jumped 18%, and management raised 2026 guidance for a third straight quarter. AI demand is real, and Equinix is a SWAN stock. x.com 

Record data-center construction supports Sterling Infrastructure, Quanta Services, Comfort Systems USA, Vertiv and Argan. Per The Kobeissi Letter, US data-center construction spending jumped 46% YoY in June to a record $68 billion annualized rate, up 158% since January 2024, and now exceeds office construction by a record $25 billion. Kobeissi calls AI the driver of the biggest investment wave in US history. x.com 

Sterling Infrastructure won't work at about 3x its $1.5 billion annual order run-rate. x.com 

Eaton is probably the data center and electrical infrastructure stock to buy today if forced to pick one after the group's jump. It significantly beat estimates and held around $420 premarket, so $396 is not a horrible price. Peers IES, EMCOR and Quanta have rallied 20-44% since July 29. x.com 

CoreWeave's results confirm the AI supercycle, and the next wave of capital is moving beyond semiconductors after their big runs. CoreWeave reported $2.58 billion of revenue, up 122%, a $104 billion backlog and more than $25 billion of new customer commitments already in Q3. That capital is flowing into data centers (Nebius, IREN, Riot, Applied Digital), networking (Arista, Marvell), photonics (Lumentum, Coherent, Applied Optoelectronics) and power (Vertiv, Constellation, Vistra, Oklo). x.com  … Show more

AI infrastructure names such as Vertiv, Bloom Energy and Sterling are an attractive, asymmetric short because slowing data-center builds should slow their order growth. Semis are historically overbought, a $200 billion company jumped 40% on its CEO calling it undervalued, companies may start rationalizing AI spend, Anthropic's revenue acceleration could slow, and a $1.5 trillion space IPO looms. Any waning momentum could cause severe unraveling. This is a high-conviction playbook into September. … Show more

Data center construction spending has reportedly surged more than 50% this year, which is bullish for data center and digital infrastructure stocks. x.com