3 Stocks Retail Investors Are Watching For AI Data Center Infrastructure Growth

AI is hungry for power, metal and concrete, and the race to build data centres and heavy electrification infrastructure is pulling once-niche materials like manganese and chrome into the spotlight. That shift creates a window where supply bottlenecks, energy costs and capital access could reward some stocks and leave others behind. This article unpacks that story and profiles 3 stocks exposed to those news driven currents.

The three stocks covered next are just a sample from this theme, and the full screen surfaced 41 more companies with equally focused infrastructure stories that are not covered here. If you want to identify your own highest conviction angles on this trend, head straight into the AI-Driven Infrastructure and Data-Centre Builders screener to filter and analyze the broader set of builders and suppliers tied to AI data-centre demand.

Sterling Infrastructure (STRL)

Sterling Infrastructure ties directly into the AI build-out story because its e-infrastructure arm prepares and equips the land under many of the data centres and power-heavy facilities that keep new compute online, rather than just supplying raw materials into the steel or ferroalloy chain.

Sterling Infrastructure generates most of its US$3.4b revenue in e-Infrastructure Solutions at about US$2.4b, with Transportation at roughly US$600 million and Building Solutions near US$400 million, all in the United States. Its market value is about US$15.9b.

Record-high and growing backlog, particularly in E-Infrastructure Solutions (up 44% year-over-year to $1.2 billion), coupled with a robust pipeline of future phase work approaching $2 billion, provides strong multi-year revenue visibility and stability. This mitigates downside risk to revenues and supports sustained earnings growth.

For investors watching AI infrastructure, the real swing factor is how one subtle pressure on project economics eventually feeds through to margins.

That pressure on profitability is exactly where the real story starts, and the full narrative for Sterling Infrastructure shows how those margin crosscurrents could accelerate or stall the next phase for Sterling Infrastructure.

Legence (LGN)

Legence leans into the AI infrastructure build because its engineers and technicians design, install and look after the cooling and power systems that keep high spec data centres running, while still serving a broad mix of complex commercial and institutional buildings.

Legence Corp. designs, installs and maintains mission critical HVAC, power and other building systems for US data centres, technology, healthcare and public clients. It generates about US$757 million from Engineering & Consulting and roughly US$3.0b from Installation & Maintenance, with a market value near US$5.6b.

Although demand from data center and technology clients is currently strong and supports a record US$5.4b backlog, a heavy reliance on very large projects and awards above US$100 million could expose revenue to timing swings if customers slow ordering patterns or push project schedules.

What happens to Legence’s margins and cash flow depends on how one quiet shift in its mix of complex fabrication work plays out.

That shift in project mix is exactly what the full narrative for Legence unpacks, highlighting where Legence could see timing risk ease while recurring work and retrofit demand quietly accelerate.

MasTec (MTZ)

MasTec is effectively a contractor for the AI era, wiring up the power lines, transmission routes and energy projects that keep data centres and electrification plans moving, with work spanning communications, pipelines and clean energy projects across North America.

MasTec generates around US$5.6b from Clean Energy and Infrastructure, US$4.5b from Power Delivery, US$3.5b from Communications and US$2.6b from Pipeline Infrastructure, with total revenue mostly in the United States and a market value near US$17.2b.

For MasTec, the AI infrastructure story runs through its power delivery, clean energy and pipeline work, where long duration projects hook directly into the transmission, substation and grid upgrades needed to keep new data centres supplied with electricity.

Although MasTec highlights record backlog tied to AI and cloud related data center work, there is a risk that customers slow or resize these projects as power availability, permitting or technology choices evolve, which could leave MasTec with underutilized capacity and pressure future revenue and EBITDA if awards are delayed or repriced.

What really matters next is how quietly shifting priorities inside utility and hyperscaler capital budgets tilt that backlog toward higher or lower margin work.

That tilt in priorities is exactly where the full narrative for MasTec shows whether MasTec’s AI workload is quietly accelerating resilience or masking future earnings strain.

Seeking Alternatives Before The Crowd?

Fresh themes keep breaking out while older stories lose momentum, and the stocks tied to them get re-rated fast. Do your homework while it still matters and get in early.

• Hunt for cash-rich companies that still look overlooked, then scan the 28 high quality undervalued stocks that highlights quality balance sheets before buyers send valuations higher.
• Target resilient payers that can keep funding distributions, and review the 8 dividend fortresses while yields remain elevated and income opportunities stay under the radar for now.
• Look for early strength in electrification and grid picks by working through the 43 power grid technology and infrastructure stocks before infrastructure activity is fully reflected in wider market screens.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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