AI needs physical infrastructure. Chips are critical, but chips alone are not enough. AI computer requires power, racks, cooling, enclosures, and protection.

nVent makes electrical connection and protection products that sit inside mission-critical infrastructure. That includes enclosures, racks, power connections, fastening systems, liquid cooling infrastructure, modular electrical buildings, and protection solutions for data centers, utilities, industrial facilities, and commercial buildings.

AI workloads require dense compute clusters. Dense compute creates more heat, more electrical load, and more complexity inside the data center. That creates demand for liquid cooling, racks, enclosures, power distribution, and protection systems. nVent sells into all of that. It help customers connect, protect, cool, and manage electrical systems safely.

It’s Q1 2026 earnings result was very strong.

Revenue was $1.2 billion, up 53% year over year. Organic growth was 34%. Adjusted EPS was $1.09, up 63%. Adjusted operating margin stayed at 20%. The standout segment was Systems Protection. Sales grew 76%, with 50% organic growth. Segment income grew 95%, and margin expanded to 22.7%.

But The most important number was backlog: $2.6 billion. Data center demand is clearly propelling demand for the company to new heights.

And right now it’s been building a textbook base and setting up for a breakout.