3 Stocks Powering AI Data Centers Beyond The Chipmakers

AI data centers are suddenly the headline story, but the quiet enabler is power and energy infrastructure that keeps those chips running without interruption. That is where this AMD news ripple gets interesting for you. Behind the 97% data center revenue surge and bold guidance sit companies that build and supply the critical hardware that makes that growth possible. This article walks through three stocks exposed to that trend, all filtered for size, liquidity and balance sheet strength, so you can judge which ones might deserve a closer look and which might belong on your avoid list as expectations around AI stretch ever higher.

The three stocks in this article are just a small sample. The full screen surfaced 47 more large, liquid power and energy names with AI data-center angles and equally compelling narratives that are not covered here. To go wider and identify your own highest-conviction ideas, head straight into the AI Data Center Power and Energy Infrastructure screener

AAON (AAON)

AAON directly aligns with the AI data center power theme because its HVAC systems handle the intense cooling load for dense server halls, and the bearish analyst Narrative on Simply Wall St frames the key question around how that opportunity translates into sustainable profitability.

AAON, Inc. designs and manufactures HVAC and data center cooling gear across AAON Oklahoma, AAON Coil Products and BASX, which generated about US$1.26b, US$572 million and US$712 million of segment revenue respectively, and the stock is valued at roughly US$6.3b in market cap.

"Although AAON is increasing its presence in data center cooling through BASX capacity and a very large revenue opportunity across Redmond, Longview and Memphis, the sharp compression in AAON Coil Products gross margin from 31.8% in Q1 2025 to 24.1% in Q1 2026 and 16.0% in Q2 2026 suggests that future backlog conversion could drag consolidated gross margin and earnings if pricing and cost inflation remain misaligned."

What happens to AAON’s AI data center appeal depends heavily on how one unresolved cost pressure affects future earnings quality.

That margin puzzle is exactly what the full narrative for AAON unpacks, separating short term cost noise from where AAON’s AI data center opportunity could accelerate next.

Shenzhen KSTAR Science and Technology (SZSE:002518)

Shenzhen KSTAR Science and Technology builds uninterruptible power supplies and related power and cooling gear that help keep data centers and AI hardware online during grid hiccups, and the stock is valued at roughly CN¥15.9b in market cap.

Shenzhen KSTAR Science and Technology offers focused exposure to power continuity, with UPS, PV inverters and storage systems designed to keep energy flowing for data centers and other critical loads. Forecast earnings and revenue expansion, plus a lower P/E than many electrical peers, highlight the importance of what could occur if a single assumption about demand for resilient AI power infrastructure changes.

If that hinges on a single demand swing, the 4 key rewards and 1 important warning sign shows where Shenzhen KSTAR Science and Technology’s upside could be masking fragile assumptions.

Munters Group (OM:MTRS)

Munters Group ties directly into the AI data center power theme through its precision cooling and environmental control systems, with AirTech contributing about SEK7.8b of sales, Data Center Technologies about SEK5.9b and FoodTech roughly SEK1.8b, on top of a roughly SEK25.0b market value.

Investors looking for pure thermal plumbing behind AMD’s AI push will likely pause at Munters Group, because its climate systems sit where rising chip power meets real world cooling limits. The bullish analyst Narrative on Simply Wall St captures how much of that promise is already loaded into the backlog.

"The large and long dated data center cooling backlog, with deliveries already planned into 2028, gives Munters Group scope to prioritize contracts and geographies that support better pricing discipline and mix, which can feed through to higher revenue per unit and stronger earnings."

What happens when that backlog meets one quietly rising cost pressure could be the swing factor for future margins and investor patience.

That cost pressure is exactly what the Munters Group full narrative for Munters Group unpacks, showing where backlog strength, pricing and AI data center demand could be accelerating or quietly stalling the story.

Seeking Alternatives Beyond AI Hype?

Fresh ideas move first. By the time every headline catches on, early momentum can be gone and prices already flying. Scan these under the radar candidates and consider them before they become widely followed.

• Look for potential breakouts among smaller players that still keep their balance sheets tight using the curated 12 elite penny stocks with strong financials before the crowd starts bidding them up.
• Participate in cash generating AI momentum with companies already producing profits, not just stories, by scanning the hand picked 41 profitable AI stocks that aren't just burning cash while valuations still reflect early expectations.
• Focus on durable payers that may keep income flowing even when sentiment drops by reviewing the focused 6 dividend fortresses and deciding which yield-oriented names warrant a deeper look.

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