Itron is a grid modernization play priced like a hardware company even though its ARR is growing 20% a year and software and analytics rose 22%, so it should not be valued as hardware for long. It becomes a huge opportunity if SPY drops back to about $662, as buying while everything rallies is unappealing. x.com 

Nexans' huge leverage to European grid spending makes its shares look too cheap for a company of its quality. The stock trades at roughly 13x consensus 2027 earnings and sold off with data-center infrastructure stocks despite AI accounting for under 5% of revenue. Management guides to positive single-digit growth into 2027, with large-project tendering picking up in the second half of 2027 through 2028. x.com  x.com 

Shoals Technologies is an infrastructure play on AI as an energy shock, since the grid must expand to keep up and Shoals monetizes the electrical complexity of connecting new capacity. Solar is shifting from a policy and ESG narrative to an infrastructure one, a transition not yet priced. Its latest quarter beat on revenue, set a record backlog and raised the full-year outlook, suggesting the story may be turning faster than expected. x.com  x.com