Stock Track | Vertiv Holdings LLC (VRT) Soars 5.11% on Expectations of Strong AI Data Center Demand

Stock Track11-22

Vertiv Holdings LLC (VRT), a leading provider of critical digital infrastructure technologies and services for data centers, witnessed a significant surge of 5.11% in its stock price during the intraday trading session on Thursday.

The rally in Vertiv's shares was fueled by growing investor confidence in the company's prospects as a key beneficiary of the massive build-out of AI data centers globally. As highlighted in Baron Funds' Q3 2024 investor letter, Vertiv's strong relationships with chip manufacturers and its involvement in developing cutting-edge solutions for increasing server rack energy density have positioned the company as a catalyst in the AI data center boom.

Vertiv's robust financial performance further bolstered investor sentiment. In the second quarter of 2024, the company reported a staggering 57% year-over-year increase in orders, with its backlog reaching a record $7 billion. Additionally, Vertiv raised its operating profit margin and earnings per share guidance for 2024, reflecting its confidence in sustaining strong growth.

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