AI infrastructure stocks are back in the spotlight after a key AI computing enabler joined a high profile Bullpen watchlist, putting fresh attention on the companies that power artificial intelligence behind the scenes. That kind of focus can influence how money moves and which stocks investors discuss next. This article breaks down 3 stocks that appear closely tied to this news and explains why they might matter for your watchlist.

The 3 AI infrastructure stocks covered below are just a starting sample. The full screen surfaced 41 more companies with similarly strong stories that are not included in this article. To see the broader opportunity set, analyze and identify your own highest conviction ideas directly in the AI Infrastructure Stocks screener.

Spirax Group (LSE:SPX)

Overview: Spirax Group is a UK based industrial group that helps customers control and manage heat and fluids, from steam systems in factories and hospitals to electric heating and precision pumps used in pharmaceuticals, biotech and other process industries worldwide. Its products support applications such as heating, sterilizing, power generation and fluid handling across sectors like food and beverage, semiconductors and mining.

Operations: Spirax Group generates most of its revenue from Steam Thermal Solutions at £853.4 million, with additional contributions from Electric Thermal Solutions at £441.3 million and Watson-Marlow Fluid Technology Solutions at £408.2 million.

Market Cap: £5.4b

Spirax Group sits at the intersection of industrial decarbonization, energy efficiency and now rising demand for AI infrastructure, supplying thermal and fluid handling hardware that underpins data centers and advanced manufacturing. The group is focusing on higher margin services, digital connectivity and machine learning enabled products. Restructuring efforts are targeting £35 million of annual cost savings and improved cash conversion. At the same time, investors need to weigh its high debt, premium P/E multiples and the fact that earnings have declined in recent years, even as management invests heavily in restructuring and digital systems. For investors who prioritize recurring industrial cash flows tied to efficiency, automation and AI related capital expenditure, this is a business that may warrant closer analysis.

Spirax Group’s push into higher margin digital and AI linked services could make its premium P/E look very different once the full story is clear. Get the context behind the restructuring and debt trade off in the 2 key rewards and 1 important warning sign

Build your own AI infrastructure shortlist

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Everpure (P)

Overview: Everpure is a US based data storage company that builds all flash hardware and a software stack that handles data reduction, protection and encryption for both traditional enterprise workloads and AI heavy use cases across on premises and cloud environments.

Operations: Everpure generates all of its roughly US$3.9b in revenue from computer storage devices, with about US$2.7b from the United States and US$1.3b from the rest of the world.

Market Cap: US$27.8b

Everpure operates at the center of the AI infrastructure theme, supplying the storage layer that keeps GPUs busy instead of idle and giving enterprises the ability to run large scale AI workloads efficiently. Earnings growth has been strong, guidance for revenue expansion has been lifted, and recent product launches around AI ready data and Kubernetes support indicate a business that is tightly aligned with current spending priorities. At the same time, the stock carries a very high P/E, insider selling has picked up in recent months and the company relies on external borrowing, so expectations are demanding. The extent to which the market treats Everpure as AI infrastructure rather than “just storage” is a key factor in understanding the balance between that risk and the potential reward.

Everpure’s AI ready storage story is accelerating, yet the stock’s high P/E and reliance on borrowing suggest a more complex setup. See how those threads come together in the analysis report for Everpure

Diebold Nixdorf (DBD)

Overview: Diebold Nixdorf helps banks and retailers automate how people access cash, pay, and check out, combining ATMs, cash recyclers, self checkout systems, and point of sale hardware with software that connects, monitors, and analyzes those devices across branches and stores worldwide.

Operations: Diebold Nixdorf generates about US$2.7b of revenue from its Banking segment and around US$1.1b from Retail solutions.

Market Cap: US$2.7b

Diebold Nixdorf operates at the intersection of AI infrastructure and the real world, with self service banking and retail systems that increasingly rely on software, data, and AI for predictive maintenance and customer journeys. Recurring, higher margin services and software are becoming a larger part of the business mix, and recent Android Enterprise Gold Partner recognition signals credibility with large scale enterprise deployments. At the same time, high debt, mixed cash flow in 2026, and the threat from fully digital banking contribute to elevated risk and make execution important. For investors considering AI related hardware and services that trade at a discount and are still early in an earnings reset, this is a story that may warrant closer examination beyond the headlines on ATMs and self checkout.

Diebold Nixdorf’s shift toward higher margin software and services could be masking a very different risk reward profile. Review the 5 key rewards and 2 important warning signs and see what its debt load and AI ambitions might really be pointing to.

Seeking Fresh Alternatives Beyond AI?

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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.