AI Infrastructure Stocks sit at the heart of the AI story, turning abstract algorithms into real-world power, cooling and connectivity. With inflation trends split across regions, policy rates moving in different directions and energy still a swing factor, many investors are looking for business models that are tied to essential capacity rather than hype. This AI Infrastructure Stocks screener focuses on companies that convert AI demand into actual revenue and cash generation. In this article, you will see 3 stocks from the screener that help you target the “picks and shovels” of the AI build out.

TTM Technologies (TTMI)

Overview: TTM Technologies is a US based electronics manufacturer that supplies high complexity printed circuit boards, RF components, and mission systems used in AI data centers, aerospace and defense, automotive, medical, and industrial equipment.

Operations: TTM generates about US$1.7b from Commercial activities and US$1.3b from Aerospace & Defense, with additional segment adjustments, and sells mainly into the United States at about US$1.6b, alongside roughly US$1.2b from other regions and US$294m from Taiwan.

Market Cap: US$14.2b

TTM Technologies gives you exposure to the “guts” of AI infrastructure and defense electronics, supplying advanced PCBs and RF systems into data centers, radar, and high reliability automotive and aerospace platforms. Analysts currently factor in strong revenue and earnings growth expectations and point to expanding margins as the business leans further into higher value engineered solutions. Recent moves such as the ultra HDI facility in Syracuse and European acquisitions aim to deepen its role in defense and AI supply chains. At the same time, high operating costs at new US facilities, customer concentration, and a capital intensive expansion plan mean execution needs to stay tight, especially with a history of earnings volatility and insider selling that investors may want to monitor closely.

TTM Technologies looks like an AI and defense capacity story that is still being priced as a complex manufacturer, so the real question is what the analyst forecasts are baking in and where expectations could still be off, starting with the analyst forecasts for TTM Technologies

Forgent Power Solutions (FPS)

Overview: Forgent Power Solutions designs and manufactures the electrical distribution gear that keeps AI data centers, power grids and heavy industrial sites running, from switchgear and transformers to power distribution units and modular power “eHouses,” as well as the services needed to install, maintain and modernize them.

Operations: Forgent Power Solutions generates about US$1.2b from the design, development, manufacture and marketing of its products and services, all from North America.

Market Cap: US$13.0b

Forgent Power Solutions offers focused exposure to the electrical backbone of AI data centers, with analysts expecting fast top line and earnings growth but profitability still thin at around 1.4% net margin. Forecast revenue growth of 26.2% a year and earnings growth of 43.41% sit alongside a share price that some models suggest is well below estimated future cash flow value. However, recent follow on offerings, high funding reliance on external borrowing and a very new board introduce governance and financing questions. Combined with sharp share price swings and rising index inclusion, this results in a high growth, higher risk AI infrastructure stock where understanding what the current valuation already assumes is important before committing capital.

Forgent Power Solutions sits where AI growth meets thin margins, with forecast revenue and earnings racing ahead while governance questions linger. See how the 4 key rewards and 2 important warning signs (1 is major!) might reframe the whole story.

Lumentum Holdings (LITE)

Overview: Lumentum Holdings supplies the optical and laser technology that lets AI data centers and high speed networks move vast amounts of data, and also provides industrial lasers used in manufacturing everything from chips and solar cells to EV batteries. The company sells these components and subsystems to cloud and AI infrastructure providers, telecom equipment makers, and manufacturers across the Americas, Asia Pacific, Europe, the Middle East, and Africa.

Operations: Lumentum generates revenue across a broad geographic base, with US$523.1m from the United States, US$494.4m from Thailand, US$460.7m from Hong Kong, US$318m from Mexico, US$178.7m from Europe, the Middle East and Africa, and smaller contributions from Japan, Other Asia Pacific, Other Americas, and segment adjustments.

Market Cap: US$59.8b

Lumentum Holdings sits at the intersection of AI data center build outs and high precision manufacturing. Analysts expect strong earnings and revenue growth, and recent quarters have shown a sharp improvement in margins and cash generation. At the same time the stock carries a rich valuation, relies on higher risk external borrowing, and has seen meaningful insider selling, so a lot of future success already appears reflected in the price. For investors who want focused AI optics exposure but are conscious of cyclicality, customer concentration and funding risks, the more detailed picture of Lumentum’s growth potential, financial resilience, and valuation assumptions may be crucial before deciding how it fits into an AI infrastructure portfolio.

Rapid margin improvement and AI exposure make Lumentum Holdings look like an underappreciated earnings story, but the current price tag raises tougher questions that the analyst forecasts for Lumentum Holdings starts to answer before the real twist appears

These three AI Infrastructure Stocks are only a preview of what is out there, with the full AI Infrastructure Stocks screener surfacing 49 more companies that pair physical AI capacity with equally compelling narratives around cash generation and capital discipline. Unlock that full list and use Simply Wall St to identify and analyze the exact catalysts, balance sheet profiles and business models that fit your highest conviction AI infrastructure view.

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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.