Three non-tech companies are capitalizing on AI-driven data center demand: Powell Industries (POWL) designs power control systems with a massive $1.8B backlog; AAON (AAON) provides critical HVAC cooling solutions with record sales up 54% YOY; and EMCOR Group (EME) offers broad electrical/mechanical contracting services with strong revenue growth and analyst optimism. All three offer diversified AI exposure beyond traditional tech stocks.

EMCOR Group, a construction and engineering services provider, has experienced significant growth driven by the AI data center boom. The company's revenues grew from $12.6 billion in 2023 to nearly $17 billion by 2025, with earnings more than doubling. Q1 2026 showed 19.7% year-over-year revenue growth and 30% earnings growth, prompting management to raise full-year guidance. Trading at around $845 per share (up from $175 in mid-2023), the stock trades at 28.5x forward earnings and is positioned for continued growth as data center construction demand remains strong.

Marvell Technology (MRVL) has surged 230% in 2026 and will be added to the S&P 500 effective June 22, which could drive further gains through forced institutional buying. The semiconductor designer benefits from strong AI infrastructure demand. However, recent S&P 500 inclusions show mixed results—while data center infrastructure companies like Comfort Systems USA and EMCOR Group have surged post-inclusion, ad-tech and software names like The Trade Desk have cratered.

Goodlander Investment Management exited its entire $37.77 million position in Primoris (PRIM) during Q4 2025, selling 275,000 shares. Despite the stock surging 124% over the past year and the company delivering solid growth with 19% revenue increase and 22% EBITDA growth, the fund's exit appears to be profit-taking after the dramatic rally rather than a rejection of the infrastructure theme, as the fund maintains other infrastructure and industrial holdings.

Goodlander Investment Management made a significant $36 million investment in Liberty Energy (LBRT) by purchasing 1.95 million shares in Q4 2025, making it a top-5 holding in their portfolio. Liberty Energy shares have surged 96% over the past year, driven by strong revenue of $4 billion and $148 million in net income in 2025, with the company expanding into distributed power solutions for data centers and industrial users.

Tom Gardner, Motley Fool co-founder and CEO, outlines his 2026 investment outlook emphasizing market volatility preparedness and a diversified portfolio strategy. He predicts increased government intervention in large tech companies due to energy consumption and data privacy concerns, recommending investors diversify away from mega-cap tech. He highlights EMCOR and Moderna as beneficiaries of AI trends while maintaining a disciplined approach of holding 25+ stocks for 5+ years.

Indiana-based Kirr Marbach acquired 466,959 shares of the Invesco BulletShares 2031 Corporate Bond ETF (BSCV) worth approximately $7.80 million in Q4, extending its bond ladder strategy across maturities from 2026 through 2031. The move provides predictable cash flow and flexibility while maintaining investment-grade corporate bond exposure.

Indiana-based Kirr Marbach increased its position in the Invesco BulletShares 2029 Corporate Bond ETF (BSCT) by 226,705 shares worth approximately $4.27 million. The move signals investor confidence in fixed-maturity corporate bonds as a portfolio ballast, offering predictable income streams and duration control amid rate volatility. The ETF, which matures in 2029, provides a 4.5% yield and serves as a volatility counterweight alongside equity holdings.

As AI-driven data center buildouts accelerate, power and real estate have become critical bottlenecks rather than computing capacity. Major tech companies are securing their own energy sources through nuclear power deals and renewable energy partnerships. Investors can gain exposure through direct data center operators, REITs, and ancillary 'picks and shovels' companies providing infrastructure, cooling, electrical systems, and engineering services.

OCS has completed its acquisition of EMCOR UK, creating one of the largest hard services-led facilities management providers in the UK. The combined business includes over 7,000 engineers and annual revenues exceeding £1 billion, with strengths in sectors like defence, healthcare, and technology-led engineering.

Emcor Group, a specialty infrastructure services contractor, recently joined the S&P 500 index and has seen remarkable stock growth of 200% since early 2024, driven by strong demand in AI data centers and infrastructure projects.

Emcor Group experienced a 17% stock drop despite beating quarterly earnings expectations, primarily due to near-term guidance that did not meet investor expectations, particularly in its AI data center-related electrical services segment.