On June 24, Carrier Global rose 4.97% in regular trading, trading at $74.265/share, with turnover of approximately $100 million. The rally was driven by multiple institutions issuing bullish recommendations on the data center cooling segment, with Carrier Global highlighted as a top pick in the global intelligent climate solutions space.
On the news front, Carrier Global's data center business has become its most critical growth engine, targeting approximately $1.5 billion in revenue. First-quarter orders surged over 500% year-over-year, while backlog soared to a record $20 billion. The company's commercial HVAC backlog has grown approximately 130%, and chiller production capacity has expanded 3 to 4 times, with management expecting significant revenue acceleration in the second half. The combination of unprecedented order momentum and aggressive capacity expansion underscores the structural demand boom in AI-driven data center infrastructure cooling.
Within the Building Products sector, peers also traded higher, with Builders FirstSource up 12.41%, Fortune Brands Home & Security up 7.85%, Modine Manufacturing up 2.98%, Trane Technologies up 2.09%, and Johnson Controls up 1.9%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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