peony
Equity Investor & Researcher
SolarEdge's solid-state transformer technology is well documented and seemingly non-speculative, yet it trades at an anomalous 2x sales versus about 4x for transformer maker Hammond Power. Per @aakashgupta, transformer lead times of up to five years are gating US AI data centers: of 12 GW of 2026 capacity announced, only 5 GW is under construction. x.com
SolarEdge could re-rate as one of the cleanest, best-documented plays on 800V data-center power. With an Infineon connection, it is developing a solid-state transformer tailored to 800V data centers, squarely in its wheelhouse, so execution expectations are reasonable. At about 2x sales it could look cheap if it builds a Bloom Energy-style backlog; its modular 2–5 MW units exceed 99% efficiency. Shorts look badly offside, and 800V may be a hot topic on the upcoming earnings call. x.com x.com x.com
Enphase and SolarEdge are a paired bet on AI data center power electronics. Both bring deep bidirectional conversion and safety expertise from residential and microgrid markets, which data centers need for sudden power swings as GPU clusters cycle and for fail-safe protection where one breaker failure can destroy a rack. Direct 13 kV-to-800 V solid-state transformers are about two years out, so both look only partly noticed after correcting to attractive multiples. SolarEdge is slightly ahead. … Show more
Enphase and SolarEdge, dead home-solar stocks, have a credible path through a pivot to solid-state transformers, which @tailrisked calls the future of grid technology. It remains a very speculative play warranting only small positions. x.com
SolarEdge could re-rate from a broken solar story to an emerging AI data-center infrastructure play sooner than expected. It set a $600M solid-state transformer revenue target for 2029, far above a ~$250M base case for 2030, and its 800 VDC conversion stage is running under load in the lab, keeping a working system on track for end-2026. A joint white paper with NVIDIA adds credibility, though NVIDIA does not endorse it and there is no pilot customer or order yet. It is a 2027-2028 play. x.com … Show more
SolarEdge and Enphase are both best positioned for solid-state transformers, and both are mid-term accumulation candidates, with no preference yet between them. Per a post the author replies to, Enphase uses Infineon's GaN bidirectional switches for its SST. Their charts suggest the monster move can continue. x.com x.com
SolarEdge's push into data centers is a massive opportunity, with potential Nebius-like returns if it executes, though that may take a long time. It has laid out a $600M SST revenue target by 2029. The market isn't buying the story yet given execution risk and how slowly its residential battery business has recovered. x.com x.com
2G Energy's growing orders and long service tail support its unusually cheap AI data-center power valuation. Nine-month 2026 orders exceed €880m, more than twice 2025 revenue; backlog runs into 2028 and service contracts last 15-20 years. Management first guided to €750-850m of revenue in 2028 and says units already sold could support over $100m in annual service revenue once running from mid-2027. At about 17x expected 2027 earnings, it looks cheapest in this space and is preferred to INNIO. … Show more
Enphase, SolarEdge and Fluence are being sold while their order books grow. Power consumption is expected to rise 65% in a year, yet these energy stocks fell 10% or more in a day; the market just does not see the demand yet. x.com
Solaris Energy Infrastructure looks cheap for its growth at about 13x 2028 forward earnings. It provides off-grid power to hyperscalers' AI data centers as energy infrastructure as a service. Revenue nearly doubled in 2025, it holds three 10-year hyperscaler contracts covering 2+ GW, and EBITDA margin is expected near 57% by 2028. The stock is up 238% in a year, but the rally is backed by real contracts, not hype. It topped a screen of $1-5B US stocks ranked on growth and momentum. x.com
Enphase Energy should return to the $70s or higher soon on its solid-state transformer for AI data centers. Enphase says power modules for its IQ Solid-State Transformer are being built in Texas to assemble and validate full-scale racks that convert medium-voltage AC directly to 800 VDC, reducing the need for battery buffering near AI compute racks. The announcement is not new to anyone following the earnings calls, which explains the earlier run-up. x.com x.com
Per Truist, AI data center capacity grows from 24GW to 100GW by 2030, and every watt must be converted, stored and cooled before a GPU runs, paying firms between grid and chip. DC-DC conversion is the layer to watch, as rising density makes each efficiency point worth more: Monolithic Power, Vicor, Infineon, TI, Analog Devices, Renesas, onsemi. Panasonic appears in six layers and Delta in four, paid more than once per rack. Eaton, Vertiv, GE Vernova, Schneider and ABB bring power in. x.com
