随着生成式AI从单点突破转向全产业渗透，人工智能数据中心（AIDC）已然成为名副其实的"吞电巨 兽"。 在这一进程中，电力不再仅仅是机房运营的边际成本，而是演变为决定算力上限的核心稀缺资源。 这种能源维度的重估，正驱动着国内AIDC产业链企业们以前所未有的速度跨越资本边界，开 启"A+H"双融资平台的新纪元。 1月28日，AIDC电力设备系列产品供应商金盘科技、积极布局AIDC产品的德业股份同日披露赴港上市 公告。 此外，包括紫光股份在内等多家上游供应商在近半年内先后将目光投向港股。 从"卖算力"到"控能源"，资本路径的切换映照出产业逻辑的深层变革。这一波"A+H"热潮，本质上是企 业在电力缺口成为全球共识前，抢占资金高地以完成能源卡位。对于AIDC供应商而言，港股不仅是融 资的跳板，更是通往全球AI电力红利分配席位的入场券。 上游供应商竞速港股IPO 产业逻辑的重塑不仅释放了高效能配电、固态变压器（SST）及绿电储能的刚性需求，更在资本市场催 生了一场清晰的布局逻辑：以金盘科技、德业股份、紫光股份为代表的上游供应商们，正迈出国际化的 重要一步。 金盘科技的崛起是这一趋势的典型缩影。 作为海南首家科创板上市企 ...

此外，包括紫光股份（000938）在内等多家上游供应商在近半年内先后将目光投向港股。 在这一进程中，电力不再仅仅是机房运营的边际成本，而是演变为决定算力上限的核心稀缺资源。 1月28日，AIDC电力设备系列产品供应商金盘科技、积极布局AIDC产品的德业股份（605117）同日披露赴港上市公告。 随着生成式AI从单点突破转向全产业渗透，人工智能数据中心(AIDC)已然成为名副其实的"吞电巨兽"。 这种能源维度的重估，正驱动着国内AIDC产业链企业们以前所未有的速度跨越资本边界，开启"A+H"双融资平台的新纪元。 从"卖算力"到"控能源"，资本路径的切换映照出产业逻辑的深层变革。这一波"A+H"热潮，本质上是企业在电力缺口成为全球共识前，抢占资 金高地以完成能源卡位。对于AIDC供应商而言，港股不仅是融资的跳板，更是通往全球AI电力红利分配席位的入场券。上游供应商竞速港股 IPO 产业逻辑的重塑不仅释放了高效能配电、固态变压器(SST)及绿电储能的刚性需求，更在资本市场催生了一场清晰的布局逻辑：以金盘科技、 德业股份、紫光股份为代表的上游供应商们，正迈出国际化的重要一步。 金盘科技的崛起是这一趋势的典型缩影。 作 ...

On Wednesday, Amphenol sank on fears its data center sales might slow. Investors could have the same concerns for Celestica ahead of its earnings. ...

Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity Strategy” investor letter for the fourth quarter of 2025. A copy of the letter can be downloaded here. Global equity markets delivered robust results in the quarter, backed by easing inflation trends and strong economic data. The Hardman Johnston Global Equity Strategy returned 2.91%, net of fees, compared to the MSCI AC World Net Index’s 3.29% gain. The Financials and Consumer Staples sectors c ...

Vertiv Holdings Co. (NYSE:VRT) is one of the best US stocks to buy and hold in 2026. On January 16, JPMorgan analyst Stephen Tusa lowered its price target on Vertiv to $225 from $230 while keeping an Overweight rating. In its Q4 earnings preview for the electrical equipment and multi-industry sector, JPMorgan revised its stock ratings and price targets. The firm expressed a strong preference for growth-oriented companies both leading into and following the quarterly reports. A day before this rating, RBC ...

Forgent的核心业务为生产数据中心关键供电设备，产品涵盖变压器、配电盘及电源分配单元等。数据 中心的长时间连续运营，高度依赖不间断、高可靠性的电力供应，此类设备正是其稳定运行的核心保 障。 Forgent由私募股权投资公司Neos Partners于2023年发起成立，并在2023至2024年通过一系列并购交易完 成业务版图扩张。即便在本次IPO完成后，Neos Partners仍将持有公司的多数投票权，保持对企业的控 股权。 数据中心电力系统设计与建造商Forgent Power Solutions(FPS.US)已提交首次公开募股(IPO)申请，预计 本次募资规模最高可达16.2亿美元，这凸显出投资者对人工智能(AI)基础设施相关企业的浓厚兴趣。 据该公司周一提交的监管文件显示，这家总部位于明尼苏达州代顿市的企业计划发行5600万股普通股， 发行价区间定为每股25至29美元。若按发行价上限计算，结合IPO完成后的流通股本，Forgent的估值将 达到约88亿美元。 此次Forgent启动上市计划，恰逢AI与云基础设施领域资本开支加速，相关受益企业备受投资者追捧的 行业窗口期。仅OpenAI一家企业就曾 ...

ab 19 January 2026 Global Research First Read China Data Center Equipment Takeaways from post-GCC tour: Accelerating AIDC power equipment shipment growth from 2026 Yishu Yan Analyst yishu.yan@ubs.com +86-21-3866 8782 Anna Yuan Positive on accelerating shipment growth from 2026 During our post-GCC tour last week, we visited Kstar and Megmeet. Both companies provided positive guidance on accelerating AIDC power equipment shipment growth from 2026, driven by AIDC capex boom. Notably, management teams highlight ...

Company Overview - Vertiv Holdings Co (NYSE: VRT) designs, manufactures, and manages power and cooling systems specifically for data centers and digital networks, providing essential services to ensure these systems operate efficiently [2]. Market Position - The company is recognized for its Liebert cooling systems, which are considered top-tier in the industry, with a strong historical reputation dating back to the 1980s [2]. - Despite current market sentiment being unfavorable towards data center stocks, Vertiv is expected to remain a necessary player in the industry due to its essential products [1]. Financial Insights - Vertiv's order book is reported to be robust, indicating strong demand for its products and services [2]. - The stock experienced a decline attributed to market reactions related to CyrusOne, but the underlying fundamentals suggest it remains a viable investment opportunity [2]. Investment Sentiment - There is a belief that while Vertiv has potential as an investment, other AI stocks may present greater upside potential with less risk [3].

Company Overview - Vertiv Holdings has a history dating back to 1946, initially developing air-cooling systems for data rooms and later expanding into computer room air conditioning units in 1965, which allowed for precise temperature and humidity control [8] - The company has grown its data center portfolio through internal product development and acquisitions, offering thermal and power management products globally [8] Current Market Status - Vertiv Holdings is currently trading at $176.77, with a volume of 3,270,867 shares, reflecting a 0.91% increase [10] - The stock is approaching overbought territory according to RSI readings, and an earnings release is anticipated in 21 days [10] Analyst Insights - Two industry analysts have provided insights, suggesting an average target price of $212.5 for Vertiv Holdings [9] - JP Morgan maintains an Overweight rating with a target price of $225, while Barclays has upgraded its rating to Overweight with a revised target of $200 [9][11] Options Trading Activity - Recent options trading for Vertiv Holdings shows a split sentiment among large investors, with 40% bullish and 42% bearish positions [2] - A total of 40 uncommon options trades were identified, with 8 puts totaling $1,089,309 and 32 calls totaling $2,534,170 [2] - The significant options activity indicates a price target range from $55.0 to $280.0 over the past quarter [3][4]

Core Insights - Vertiv is collaborating closely with Nvidia to develop an 800-volt DC power portfolio, positioning itself as a key partner for next-generation AI data centers [1] - The company reported a strong financial performance with $462 million in free cash flow and $1.4 billion in cash and equivalents, supporting its expansion plans [1] - Vertiv's book-to-bill ratio stands at 1.4 times with a backlog of $9.5 billion, indicating a robust revenue forecast for 2026 [2] Financial Performance - Vertiv's organic sales reached $2.6 billion in Q3, reflecting nearly 30% year-over-year growth, with the Americas showing over 40% growth [3] - Adjusted EPS increased by 63% year-over-year to $1.24, and full-year earnings are projected to be $4.10 per share, up around 44% year-over-year [2][6] - Free cash flow is expected to be $1.5 billion for the year, demonstrating strong financial health [6] Market Position and Growth Strategy - Vertiv is expanding its offerings in thermal control, high-density racks, power distribution, and advanced services to strengthen its competitive position as AI workloads grow [2] - The company plans to increase R&D spending by over 20% by 2026 to stay ahead of future GPU generations [2] - Analysts expect earnings growth of 45% in 2025 and 29% in 2026, indicating long-term growth potential beyond short-term AI investments [7] Stock Performance and Analyst Ratings - Vertiv's stock (VRT) has increased by 34% over the past 52 weeks, outperforming the S&P 500 Index's gain of 17% [4] - The stock holds an overall rating of "Strong Buy" from Wall Street, with 18 out of 24 analysts recommending it as a "Strong Buy" [8] - The average target price for VRT is $196.05, suggesting a potential upside of 12% from current levels [8]