3 AI Infrastructure Stocks Retail Investors Are Watching As Data Center Spending Grows

The Federal Reserve is openly wrestling with the AI investment boom, treating massive data center spending as a fresh source of inflation pressure just as rate hikes remain on the table. That puts a spotlight on businesses tied to GPUs, servers and cloud capacity, while leaving more traditional sectors exposed to higher borrowing costs. This article examines that tension and profiles three AI infrastructure stocks that sit squarely in the middle of it.

The three stocks below are just a sample, and the full screen surfaced 60 more AI infrastructure and data center enablers with equally compelling stories that are not covered here. To go wider and deeper on this theme, head straight into the AI Infrastructure and Data Center Enablers screener to identify, compare, and analyze the highest conviction ideas.

Belden (BDC)

Overview: Belden provides fiber, copper, cooling, and networking hardware that underpins AI capable data centers and high speed industrial data flows.

Market Cap: US$4.0b

Belden matters for this AI Infrastructure and Data Center Enablers screen because its connectivity, power, and cooling hardware sits directly in the racks where GPU heavy workloads run, and management is now leaning harder into that demand stream.

"Belden's growing position in AI data center infrastructure, including an annual revenue run-rate of about US$175m and a new US$20m high margin contract with a Tier 1 hyperscaler, points to a pipeline of future deployments that can lift revenue and support higher gross margins."

What happens to Belden’s earnings profile if that early AI momentum coincides with a quiet shift in where its mix skews next?

If that shift is what matters most, read the full narrative for Belden to see how Belden’s AI run-rate, contracts, and capital intensity could be decoupling.

ADTRAN Holdings (ADTN)

Overview: ADTRAN Holdings builds high bandwidth networking gear and software that link cloud providers, data centers and end users for AI era traffic.

Operations: ADTRAN generates about US$946 million from Network Solutions and US$192 million from Services & Support, with US$538 million from the United States.

Market Cap: US$513 million

ADTRAN Holdings matters for this AI Infrastructure and Data Center Enablers screen because its optical gear and software help move massive GPU driven traffic between cloud regions, metro networks and enterprise edges, where latency and power efficiency start to influence which providers capture future workloads.

"Although ADTRAN Holdings highlights strong optical networking demand from cloud and AI workloads, the recent Q2 2026 revenue shortfall tied to a single large customer’s project delay shows that concentrated hyperscaler and wholesale exposure can leave revenue and earnings vulnerable if even one large deployment phase is pushed out."

The key variable is how a relatively quiet shift in product and customer mix affects margins once those delayed projects resume.

That mix shift is exactly what the full narrative for ADTRAN Holdings unpacks, showing how delayed AI projects, customer concentration and new product cycles could be quietly resetting ADTRAN Holdings’ earnings path.

Diodes (DIOD)

Overview: Diodes supplies power management and signal processing chips that help run and protect AI capable servers, networking hardware, and connected devices in modern data centers.

Operations: Diodes generates about US$1.63b from Standard Semiconductor Products, with revenue primarily sourced from Asia at US$1.80b and the Americas at US$1.15b.

Market Cap: US$3.8b

Diodes matters for AI infrastructure because its power, protection, and mixed signal parts sit inside the boards that keep high density servers and data center networking equipment running efficiently.

"Rising demand for Diodes' solutions in AI-related computing and the broader ecosystem of connected devices (including data centers, servers, industrial automation, and IoT) is boosting revenue momentum and contributing to consistent market share gains, improving longer-term top-line growth visibility."

What investors really need to watch is how one quiet shift in product mix could feed through into Diodes’ margins as AI hardware scales.

To see how that mix shift could reshape Diodes’ earnings power, read the full narrative for Diodes for what might be accelerating beneath the surface.

Seeking Alternatives Before Momentum Runs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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