US growth stocks are back in the spotlight after Big Tech gains helped push the Nasdaq up 2%, the S&P 500 up 1.5%, and the Dow up 1.1%. Easing oil prices following President Trump’s pause on military action against Iran, a stronger ISM manufacturing reading, and upcoming earnings from companies like Palantir and SpaceX are giving investors fresh data to weigh. This article walks through 3 stocks from a US Growth Stocks screener that appear closely tied to these catalysts, helping you decide whether they deserve a closer look or a place on your watchlist.

nLIGHT (LASR)

Overview: nLIGHT is a US-based photonics company that designs and manufactures semiconductor and fiber lasers used in aerospace and defense, industrial production, and microfabrication. Its products power applications such as high energy laser weapons, precision cutting, and advanced manufacturing across the US, Europe, and Asia.

Operations: nLIGHT generates about US$201.8 million from Products and US$88.1 million from Development work, with revenue concentrated in North America at US$208.8 million, alongside smaller contributions from EMEA at US$39.9 million and Asia Pacific at US$41.2 million.

Market Cap: US$3.71b

nLIGHT is attracting attention because it sits at the intersection of advanced manufacturing and defense, with expanding high energy laser programs like the Joint Laser Weapon System potentially increasing multi year defense backlog. Analysts note the possibility of stronger earnings as more revenue comes from higher margin defense and advanced manufacturing work. However, the stock already trades on a rich P/S multiple and remains sensitive to US defense budgets and execution on new contracts. The company is currently unprofitable and has relied fully on external funding, and there has been recent insider selling, so the bar for future performance is high. If management continues to turn R&D programs into scalable production, nLIGHT could be one of the more closely watched stories in photonics.

nLIGHT’s shift toward higher margin defense work could be masking some underappreciated pressure points in the story. Before you decide how it fits on your watchlist, scan the 2 key rewards and 2 important warning signs

Vicor (VICR)

Overview: Vicor designs and manufactures high performance power modules and systems that convert electricity into the precise form needed by devices such as data center servers, AI hardware, telecom gear, vehicles, and aerospace and defense equipment across the US, Europe, and Asia.

Operations: Vicor generates about US$474.0 million from Advanced or Brick Products, with revenue mainly from the United States at US$252.7 million and Asia Pacific at US$167.3 million, alongside smaller contributions from Europe and other regions.

Market Cap: US$9.53b

Vicor sits at the heart of the AI and cloud build out, supplying power solutions that support high power, high density computing as Big Tech strength and ISM manufacturing data contribute to confidence around technology driven activity. Recent quarters featured earnings beats, a sharply higher backlog tied to AI data center demand, and plans for a second fab that aim to support management’s long term revenue ambitions, while royalty income from its IP adds another earnings lever. At the same time, a rich P/E multiple, reliance on licensing outcomes, high fixed costs from new capacity, and insider selling keep execution risk in focus. For investors tracking AI infrastructure leaders, Vicor’s story may not be fully reflected in headline numbers yet.

Vicor’s accelerating AI story and rich P/E suggest the headline growth angle is only part of what is priced in. To see what the market might be missing around capacity, royalties, and execution risk, review the analyst forecasts for Vicor

Quanta Services (PWR)

Overview: Quanta Services is a Houston based infrastructure contractor that builds and maintains the power lines, substations, underground utilities, pipelines, and communications networks that keep electricity, gas, and data flowing for utilities, data centers, manufacturers, and energy companies.

Market Cap: US$98.9b

Quanta Services is a pure play on the buildout of power and utility infrastructure that supports data centers, AI workloads, and a more electrified economy, with recent quarters showing record backlog above US$50b, raised 2026 guidance, and strong cash generation. Investors get a business tied to long duration utility and energy spending plus rising demand from large load customers such as data centers and advanced manufacturing. However, the stock already trades on a very high P/E and carries meaningful debt, with recent insider selling adding to perception of risk. For investors who focus on how improved ISM manufacturing, resilient energy spending, and tech led power demand filter into real world projects, Quanta’s mix of growth potential and valuation pressure may warrant closer attention.

Quanta Services is supporting a record backlog and long-dated utility projects while trading on a very high P/E that many investors focus on. To see how that trade-off compares with future workloads, read the 2 key rewards and 2 important warning signs

The three growth stocks covered here are only a starting point, and the full US Growth Stocks screener surfaces 40 more US companies with equally compelling growth narratives across technology, communications, and consumer sectors. Use Simply Wall St to identify and analyze the specific catalysts and storylines that matter to you so you can focus on the highest conviction growth opportunities that fit your own investing approach.

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If nLIGHT or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

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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.