Meta’s renewed push into open source AI, fresh models for developers, and a new US$1b community fund for data center regions all point to one thing: the digital plumbing behind AI is back in the spotlight. For investors, that can mean fresh attention on companies tied to power, cooling, and connectivity. This article walks through three data center infrastructure stocks exposed to these Meta headlines and why they may be worth a closer look.

The stocks in the article below are just a starting sample. The full screen surfaced 35 more data center infrastructure companies with equally compelling narratives that are not covered here. To go deeper, head straight into the Data Center Infrastructure screener to identify, analyze, and prioritize the highest conviction ideas.

Belden (BDC)

Overview: Belden is a US-based provider of networking and connectivity hardware and software, supplying copper and fiber cabling, racks, power and cooling gear, and automation solutions that sit at the core of data centers and industrial networks. Its products help move, manage, and secure data across sectors such as cloud and AI data centers, telecoms, factories, transportation, and large campuses.

Market Cap: US$5.2b

Belden sits directly in the flow of Meta’s renewed AI infrastructure spend, with its cabling, connectivity, and data center power and cooling products tied to the kind of hyperscale builds that Meta is funding. Recent news points to record quarterly revenue and a sizeable AI data center order, alongside the RUCKUS Networks acquisition that broadens its role in end to end networking. Analysts see faster earnings and ROE improvement, yet the P/E sits below the Electronic industry and peer averages, which may appeal to investors who care about price discipline as well as growth. The flip side is higher debt from funding acquisitions and exposure to input cost swings, which means execution and balance sheet management are important here.

Belden’s record revenue, AI data center order, and RUCKUS acquisition could be masking what really matters for your thesis. Get the full picture in the 4 key rewards and 1 important warning sign

Build your own data center infrastructure shortlist

Belden and the other two stocks in this article all surfaced from a single Simply Wall St screen, which is only a small sample of what you can set up for yourself. Use our flexible Screener to mix filters like valuation, growth, balance sheet strength, and risks around your own criteria, or skip straight to our curated Investing Ideas for ready made shortlists.

NRW Holdings (ASX:NWH)

Overview: NRW Holdings is an Australian contractor that builds and services large resource and infrastructure projects, from roads, bridges, and water assets through to mine development, contract mining, and specialised minerals and energy work, including data center related infrastructure. Its three core segments, Civil, Mining, and Minerals, Energy & Technologies, give it exposure to both government infrastructure programs and long term mining and industrial clients.

Operations: NRW Holdings generates around A$1.5b of revenue from Mining, A$1.1b from its Minerals, Energy & Technologies segment, and A$850 million from Civil projects, with group level adjustments and eliminations applied across these activities.

Market Cap: A$3.3b

NRW Holdings stands out in the data center infrastructure theme because it already builds the heavy civil and power related assets that AI driven data centers rely on, while also riding a strong order book in mining and transport. At the same time, thin net margins, funding that leans on external borrowing, and weather or client risks mean execution quality really matters for anyone considering this stock in the Meta driven build out of infrastructure.

NRW Holdings sits at the crossroads of AI data center build outs and long term mining and transport work. However, thin margins and borrowed funding mean the full story sits inside the 2 key rewards and 1 important warning sign

Tasmea (ASX:TEA)

Overview: Tasmea is an Australian industrial services group that handles shutdowns, maintenance, emergency repairs, and capital upgrades across remote and regional sites, with specialist teams in electrical, mechanical, civil, and water and fluid solutions for sectors like mining, power, renewables, oil and gas, and infrastructure.

Operations: Tasmea generates most of its A$701.8 million revenue in Australia, with A$266.6 million from Electrical services, A$146.8 million from Mechanical, A$128.1 million from Civil, and A$86.6 million from Water & Fluid, plus segment adjustments and eliminations.

Market Cap: A$2.2b

Tasmea may appeal to investors who prefer exposure to the operational side of AI-related infrastructure rather than only the headline technology companies. The company supplies industrial electrical and maintenance work that data centers rely on to stay powered and safe, while also serving mining, energy, and infrastructure clients. Historical earnings and revenue have increased over multi year periods, and analysts expect that trend to continue, yet the share price is described as sitting below an estimated cash flow value. Potential risks include a high P/E, margins that have tightened, and 100% reliance on external borrowing, which could be challenging in a downturn. A fully franked special dividend planned for June 2026 has been interpreted by some observers as a sign of confidence in the balance sheet and cash generation outlook.

Tasmea’s fully franked special dividend and focus on data center operations point to a story that goes beyond headline multiples. Scan the analyst forecasts for Tasmea and consider what the current P/E and borrowing reveal about the next chapter.

Seeking Alternatives Before Momentum Flies

Fresh stock stories can move from under the radar to full flight quickly. Use these themes before the crowd catches up and while the data still matters. Get in early.

• Identify established miners with exposure to metal prices by scanning the 29 elite gold producer stocks before momentum stories are fully reflected in prices and opportunities narrow.
• Track grid and transmission players involved in electrification using the curated 37 power grid technology and infrastructure stocks while these infrastructure stocks remain relatively overlooked.
• Follow companies connected to long term robotics demand with the focused 37 robotics and automation stocks and consider them before automation momentum is broadly recognized in major indexes.

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.