Billionaires Like These 2 AI Data Center Stocks

Fahad Saleem

Thu, September 3, 2026 at 5:39 PM GMT+3 3 min read

We ran an analysis based on Insider Monkey's proprietary database of over 900 hedge funds to see which AI and data center stocks billionaire-led funds were piling into during the second quarter. Two names stood out.

Vertiv Holdings (NYSE:VRT) topped the list. A total of 32 billionaire-led funds held stakes in the company at the end of the second quarter, up from 28 funds in the first quarter.

Equinix (NASDAQ:EQIX) came in second. It had 27 billionaire-led funds holding stakes at the end of the second quarter, up from 26 in the first quarter. Equinix is a major data center REIT in the world and rents out space and connectivity to companies that need to house their servers somewhere.

Let's analyze VRT in detail.

Among the billionaire-led funds holding Vertiv Holdings (NYSE:VRT) at the end of the second quarter, Cliff Asness's AQR Capital Management held the largest position, worth about $858.2 million. Leon Cooperman's Omega Advisors came next with a stake worth roughly $722.5 million, which made up 20.37% of that fund's portfolio. Ron Baron's BAMCO held about $328.1 million, Philippe Laffont's Coatue Management held around $270.1 million, and Israel Englander's Millennium Management held roughly $253.1 million. Ken Griffin's Citadel also held common stock worth about $92.4 million.

Vertiv makes the physical equipment that keeps data centers running. In Q2, revenue rose 24% year over year, while adjusted operating margin improved to 22.6%. Adjusted EPS rose 60%.

Bull Case for VRT

Bulls point to an industry change as a long-term catalyst for Vertiv. Data centers pull power from the grid as AC, but the chips inside servers run on DC. Every conversion between the two wastes energy and throws off heat, and more heat means more cooling and more cost. Nvidia is pushing the industry toward running the whole system at 800 volts of DC power. That cuts out conversion steps and needs far less copper wiring, which frees up floor space for more racks.

Vertiv has power products to match the industry trends. Its switchgear, battery storage, transformers and distribution gear would be able to support 800 volts, so an Nvidia rack can plug straight into Vertiv's equipment with nothing in between.

The payoff is measurable. Vertiv tracks how much equipment it sells per megawatt of data center power. Management now expects it to rise to between $3.25 million and $3.75 million starting in 2027.

The International Energy Agency expects global data center electricity use to roughly double from 485 TWh in 2025 to about 950 TWh in 2030, with consumption from AI-focused data centers tripling over that period. Asia Pacific demand is projected to grow from 28 GW in 2025 to 86 GW by 2030. Vertiv already gets 63.3% of revenue from the Americas and 21.9% from Asia Pacific.

Photo by AlphaTradeZone

Valuation

Valuation is the main problem. The stock trades at a forward non-GAAP P/E of 38.57 against a sector median of 20.54, roughly 88% above the sector and about 28% above its own five-year average of 30.15. Forward EV/Sales is 7.12 against a sector median of 2.21. Forward EV/EBITDA is 28.69 against 12.25. Trailing EV/Sales is 8.70 against a sector median of 2.27, nearly 284% above. Peers such as Johnson Controls, Schneider Electric and Eaton trade in the mid-to-high 20s on forward earnings.

Billionaires Like These 2 AI Data Center Stocks

Valuation

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