Why Vertiv Holdings Stock Is Soaring Today
Vertiv Holdings (NYSE: VRT) delivered blowout earnings thanks in no small part to the boom in artificial intelligence (AI) spending. Investors looking for new ways to capitalize on AI are taking note, sending shares of Vertiv up nearly 30% on Wednesday morning.
Vertiv sells hardware, software, and analytics to help manage data centers, industrial facilities, and communications networks, including a range of power, cooling, and IT infrastructure products. The company's portfolio goes well beyond data centers, but power-hungry AI models have led to a surge in demand.
The company reported second-quarter adjusted earnings of $0.46 per share, beating estimates by $0.17, on revenue of $1.73 billion. The sales figure was up 23.6% year over year, and beat the consensus estimate by about $100 million.
Source Fool.com
