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Which companies test this claim?
Spare computing capacity does not stop new power construction. 55 companies, under 2 questions: Who builds and equips the data centers? · Who supplies the power?
Spare rented computing capacity moves work around; it does not cancel new power and cooling construction, which follows capital spending, not chip scarcity.
What would prove us wrong
Hyperscaler capital-spending guidance cut at the late-October reports; or a data center of 100 megawatts or more publicly deferred citing surplus; or Vertiv cutting its growth guidance. (Vertiv stopped reporting quarterly orders and backlog in February; we watch deferred revenue and growth guidance instead.)
Review 2026-11-15 · check: hyperscaler 10-Qs; Vertiv's earnings release · the claim's page
| Company | What it sells | Reports next |
|---|---|---|
| AAON AAON |
AAON makes heating, ventilation and air-conditioning equipment for data centers and other large buildings, including the cooling systems that keep computing hardware running. | not yet announced |
| Amphenol APH |
Amphenol makes connectors and interconnect systems that link chips, circuit boards and servers together. | not yet announced |
| Antero Resources AR |
Antero Resources produces natural gas from wells in the Appalachian Basin, supplying fuel for power generators. | not yet announced |
| Array Technologies ARRY |
Array Technologies makes solar tracking systems that tilt panels toward the sun to generate electricity. | not yet announced |
| BWX Technologies BWXT |
BWX Technologies makes nuclear reactor components and fuel for the US government and navy. | not yet announced |
| Bloom Energy BE |
Bloom Energy makes fuel cells that generate electricity on-site from natural gas or hydrogen, supplying power to data centers and other large computing facilities. | not yet announced |
| Caterpillar CAT |
Caterpillar makes heavy construction and mining machinery, plus the diesel generators that power data centers. | not yet announced |
| Centrus Energy LEU |
Centrus Energy supplies enriched uranium fuel for nuclear reactors that help generate the electricity data centers depend on. | not yet announced |
| Coherent COHR |
Coherent makes lasers and optical components that move data between computers and data centers. | not yet announced |
| Comfort Systems FIX |
Comfort Systems installs and services the heating, ventilation and air-conditioning systems that keep data centers and other large buildings running. | not yet announced |
| Comstock Resources CRK |
Comstock Resources produces natural gas from the Haynesville shale in Louisiana and Texas, selling to Gulf Coast markets. | not yet announced |
| Constellation Energy CEG |
Constellation Energy sells electricity generated at its nuclear and gas plants, supplying the grids that data centers draw from. | not yet announced |
| Corning GLW |
Corning makes specialty glass and optical fiber used in data centers and networks. | not yet announced |
| Cummins CMI |
Cummins makes diesel and natural-gas engines and power generators that keep data centers and other facilities running. | not yet announced |
| Dell Technologies DELL |
Dell Technologies sells servers, storage and PCs to businesses and cloud providers, including AI servers used in the data centres that run artificial intelligence. | 24 Nov · expected, per Nasdaq |
| Digital Realty DLR |
Digital Realty leases and operates the data centers where cloud and enterprise computing equipment is housed, powered and cooled. | not yet announced |
| EMCOR EME |
EMCOR designs, builds and maintains the electrical and mechanical systems inside data centers and other large facilities. | not yet announced |
| EQT EQT |
EQT produces natural gas, much of which feeds power plants and data centers. | not yet announced |
| Eaton ETN |
Eaton sells electrical power equipment, such as switchgear, power distribution units and uninterruptible power supplies, that keeps data center computing hardware supplied and protected. | not yet announced |
| Energy Fuels UUUU |
Energy Fuels mines uranium and rare earth minerals in the United States and is building capacity to process them into magnet-grade materials. | not yet announced |
| Energy Transfer ET |
Energy Transfer moves and stores natural gas and crude oil through pipelines and terminals, feeding fuel to gas-fired power plants. | not yet announced |
| Equinix EQIX |
Equinix runs data centers where companies house their servers and connect to cloud and network providers. | not yet announced |
| Excelerate Energy EE |
Excelerate Energy runs floating terminals that turn liquefied natural gas, gas chilled into liquid for shipping, back into gas for power plants. | not yet announced |
| Fabrinet FN |
Fabrinet, a Thailand-based contract manufacturer, builds optical communications modules and components for networking and data-center customers. | not yet announced |
| First Solar FSLR |
First Solar makes thin-film solar panels and sells them to power developers. | not yet announced |
| Fluence Energy FLNC |
Fluence Energy sells battery storage systems and software that utilities and grid operators use to store power. | 23 Nov · expected, per Nasdaq |
| Fluor FLR |
Fluor is an engineering and construction firm that builds the plants and infrastructure needed to generate and deliver power. | not yet announced |
| GE Vernova GEV |
GE Vernova makes equipment and provides long-term services for companies that generate electricity and feed it onto the grid. | not yet announced |
| Generac GNRC |
Generac makes backup generators and power equipment that keep data centers and other facilities running during grid outages. | not yet announced |
| Hubbell HUBB |
Hubbell makes electrical components, connectors and grid equipment that power data centers and the wider electrical network. | not yet announced |
| IES Holdings IESC |
IES Holdings designs, installs and maintains electrical and data-center systems, building the physical power and wiring that AI computing facilities need. | 20 Nov · expected, per Nasdaq |
| Iron Mountain IRM |
Iron Mountain (IRM) rents out data centers and records storage space to other companies. | not yet announced |
| MPLX MPLX |
MPLX owns pipelines, terminals and processing plants that move and store crude oil and natural gas, which feed power generation. | not yet announced |
| MYR Group MYRG |
MYR Group builds the electrical power lines and substations that deliver electricity to data centers and other large computing facilities. | not yet announced |
| MasTec MTZ |
MasTec builds infrastructure across America, with smaller operations in Canada and Mexico. | not yet announced |
| Modine Manufacturing MOD |
Modine Manufacturing makes thermal management equipment, including cooling systems for data centers, which keep AI servers from overheating. | not yet announced |
| NRG Energy NRG |
NRG Energy sells electricity and power-generation services to retail and commercial customers, delivering power from its plants to end users. | not yet announced |
| Nano Nuclear Energy NNE |
Nano Nuclear Energy designs small modular nuclear reactors meant to supply electricity to data centers. | not yet announced |
| NextDecade NEXT |
NextDecade develops liquefied natural gas export terminals on the Texas Gulf Coast. | not yet announced |
| Nextracker NXT |
Nextracker makes solar tracking systems and mounting hardware that tilt panels toward the sun. | not yet announced |
| NuScale Power SMR |
NuScale Power designs small modular nuclear reactors that data centers and utilities could use to generate electricity. | not yet announced |
| ONEOK OKE |
ONEOK owns and operates pipelines that carry natural gas and natural gas liquids to customers. | not yet announced |
| Oklo OKLO |
Oklo designs small modular nuclear reactors that aim to supply electricity to data centers and other large power users. | 10 Nov · expected, per Nasdaq |
| Ormat ORA |
Ormat builds and runs geothermal power plants that sell electricity to utilities and data centers. | not yet announced |
| Powell Industries POWL |
Powell Industries builds electrical switchgear and power distribution equipment that feeds and protects large facilities, including data centers. | 17 Nov · expected, per Nasdaq |
| Quanta Services PWR |
Quanta Services builds and maintains the power transmission lines, substations and grid connections that carry electricity to data centers and other large computing facilities. | not yet announced |
| Shoals SHLS |
Shoals makes electrical wiring and connection products that carry power from solar arrays to inverters. | not yet announced |
| Sterling Infrastructure STRL |
Sterling Infrastructure builds the foundations, roadways and utility systems for data centers and other large facilities. | not yet announced |
| Super Micro Computer SMCI |
Super Micro Computer builds servers and the racks that house them, supplying the physical computing hardware that data centers rely on. | not yet announced |
| Talen Energy TLN |
Talen Energy owns and operates power plants, including nuclear facilities, and sells electricity into regional wholesale markets, mainly in the mid-Atlantic United States. | not yet announced |
| Uranium Energy UEC |
Uranium Energy mines and sells uranium, the fuel used in nuclear reactors. | 9 Dec · expected, per Nasdaq |
| Vertiv VRT |
Vertiv sells infrastructure technology products and solutions through distributors and original equipment manufacturers. | not yet announced |
| Vistra VST |
Vistra owns and operates power plants and sells electricity to utilities and large customers. | not yet announced |
| Williams WMB |
Williams operates natural gas pipelines that carry fuel to the power plants supplying electricity to data centers. | not yet announced |
| nVent NVT |
nVent sells electrical enclosures, cooling equipment and power-connection products that keep data centers and other computing facilities safe and running. | not yet announced |
Showing 55 of 55 · No price is shown: the Index is a map of what each company sells and where it sits, not a quote board.