The AI data centre story is no longer just about eye catching chatbots. Behind the scenes, power systems, cooling gear and storage capacity are being stretched as companies race to handle surging data and new AI workloads. That stress is creating fresh winners and new risks. This article walks through three stocks exposed to that AI infrastructure news and explains why each could deserve a closer look or a wider berth.

The three stocks below are a starting sample from this AI data centre angle, while the full screen surfaced 16 more companies with equally compelling infrastructure narratives that are not covered here. To identify and analyze your own highest conviction ideas around power, racks, cooling and storage, head straight to the Global AI Data Infrastructure Enablers screener.

Sterling Infrastructure (STRL)

Sterling Infrastructure is a US civil contractor that prepares and builds the physical sites where data centers, e commerce warehouses, factories and transport projects sit. The E Infrastructure Solutions segment is the profit engine, generating about US$2.4b of revenue, far ahead of Transportation Solutions at roughly US$613 million and Building Solutions at about US$385 million. The company is entirely US focused and is valued at around US$16.8b.

Sterling Infrastructure is closely tied to the AI buildout story, since its core E Infrastructure arm handles sitework and civil construction for large US data centers, where industry players report “astronomical” demand for power and cooling. Management highlights a record, multi year backlog and growing awards from data center and semiconductor projects, and analysts have issued bullish forecasts and raised guidance through 2026. The flip side is meaningful exposure to mega projects and stimulus linked infrastructure, plus higher reliance on external borrowing and recent insider selling, which could make earnings and the share price more sensitive if projects slip. For investors who want direct exposure to the hard hats behind AI data centers, that mix of growth potential and execution risk makes Sterling a stock to watch closely.

Sterling Infrastructure’s AI fueled backlog looks powerful, yet mega project exposure and leverage could be masking the real story. Before you overlook either side, review the 4 key rewards and 2 important warning signs

Build your own AI infrastructure shortlist

Sterling Infrastructure and the other two stocks in this article all came from a single screener, but the real value is in shaping your own filters. Use our customizable Screener to mix valuation, growth, quality and risk checks in a way that fits your process, or start with any of our curated Investing Ideas.

Legence (LGN)

Legence designs, installs and maintains complex HVAC and other mechanical, electrical and plumbing systems for mission critical buildings such as data centers, hospitals and labs across the United States. Its engineers work on energy efficiency and retrofit projects, while its field teams handle fabrication, installation and ongoing maintenance, keeping high value facilities running. Legence is currently valued at about US$7.4b.

Legence operates in the slipstream of AI data center expansion, with engineers and fabricators working on the power hungry, tightly cooled facilities that AI workloads depend on. A record US$5.4b backlog and raised 2026 revenue guidance indicate strong demand, yet recent quarters also included impairment charges and a reported loss, and the balance sheet leans heavily on external borrowing. For investors who can handle execution and funding risk, the mix of AI-related project visibility, modular fabrication scale and evolving earnings expectations may make Legence a stock that merits closer examination in the context of current market expectations.

Legence’s AI backed project backlog is significant, but the key story lies in how cash flow, debt and future margins fit together. Get the full picture in the analysis report for Legence

2CRSI (ENXTPA:AL2SI)

2CRSI develops and manufactures end to end computing systems ranging from GPU and AI servers to high density racks and immersion cooled solutions for data centres and edge locations. The group currently generates about €405 million in revenue from sales of components and finished products, and has a market value of roughly €626 million.

2CRSI sits at the sharp end of the AI infrastructure buildout, supplying high performance servers and cooling solutions that directly benefit from rising data centre capex. Earnings and revenue growth forecasts are strong, the company recently booked a fully paid AI server order worth about €110 million to a German customer, and it is involved in large scale European AI projects such as the proposed ÆTHER gigafactory. At the same time, margins are thin, the P/E multiple is high and funding relies on external borrowing, which leaves little room for execution missteps. For investors seeking exposure to European AI hardware with both notable upside potential and elevated risk, 2CRSI is a story that may warrant closer tracking.

2CRSI’s AI hardware story appears to be gaining momentum, yet thin margins and funding needs raise sharp questions about how far it can run. Get the context in the full narrative for 2CRSI

Seeking Alternatives Before The Crowd Moves

Fresh ideas get picked over fast. Stocks can break out, momentum can fade and quiet winners stop flying under the radar for now. Do your homework while it matters and act now.

• Spot early movers in smaller companies that still have room to run by scanning the 20 elite penny stocks with strong financials before everyone else starts talking about them.
• Track where real cash generation meets AI momentum and filter for 74 profitable AI stocks that aren't just burning cash while expectations are still catching up to the underlying businesses.
• Shift your focus to companies with strong cash, low debt and resilient earnings using the curated list of solid balance sheet and fundamentals (49 results) before the crowd bids them up.

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.