Investing.com — Bank of America has identified key stocks positioned to benefit from data center infrastructure demand, with rankings 27 through 38 from its list of 67 stocks essential to the sector. The selection spans power generation, energy distribution, and industrial equipment companies supporting the growing computational needs of artificial intelligence and cloud computing facilities.
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The following stocks represent Bank of America’s rankings in this segment:
1. GE Vernova () – The energy-focused spinoff from General Electric leads this group as the top-ranked stock. GE Vernova provides power generation equipment and services critical to data center operations.
GE Vernova announced a collaboration with Blue Energy to develop a power plant in Texas combining nuclear and natural gas generation. The company also received a rating downgrade to neutral from BNP Paribas Exane, while Mizuho and Jefferies raised their price targets.
2. Caterpillar () – The industrial equipment manufacturer ranks second. Caterpillar supplies backup power systems and infrastructure equipment essential for data center construction and operations.
Caterpillar reported first-quarter earnings per share that were 20% ahead of expectations, leading to price target increases from firms including Argus, Bernstein, and BofA Securities.
3. Sempra () – The energy infrastructure company takes the third position. Sempra operates utilities and energy networks that serve data center facilities across its service territories.
In recent news, Sempra reported first-quarter 2026 financial results where its adjusted earnings per share of $1.51 surpassed forecasts, though revenue of $3.66 billion fell short of expectations.
4. DTE Energy () – Ranking fourth, the Detroit-based utility company provides electricity and natural gas services to commercial customers including data centers in its regional markets.
DTE Energy reported first-quarter adjusted earnings per share of $1.95, missing consensus estimates, but reaffirmed its guidance. The company also announced its intention to pause electric rate increase requests for at least two years.
5. Evergy () – The Kansas and Missouri utility holds the fifth spot. Evergy supplies power to customers in the central United States where data center development continues.
Evergy announced strong first-quarter 2026 financial results, with both its earnings per share of $0.69 and revenue of $1.44 billion surpassing analyst expectations.
6. Talen Energy () – The independent power producer ranks sixth. Talen Energy operates generation facilities that provide electricity to wholesale markets and large commercial users.
In recent developments, Talen Energy reported strong first-quarter 2026 results with an EPS of $1.33 and revenue of $1.13 billion. The company also completed debt refinancing transactions expected to result in annual savings.
7. EVE Energy () – The Chinese battery manufacturer places seventh. EVE Energy produces energy storage solutions used in data center backup power systems.
8. CMS Energy () – Ranking eighth, the Michigan-based utility provides electric and natural gas services to commercial and industrial customers in its service area.
9. Wartsila OYJ () – The Finnish technology company takes the ninth position. Wartsila manufactures power generation equipment and energy management systems for industrial applications.
10. PPL Corp () – Rounding out the list at tenth, the utility company serves customers across Pennsylvania, Kentucky, and the United Kingdom with electricity distribution services.
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