Vertiv Stock Jumps 7% After Record Losing Streak as SpaceX and Super Micro Results Revive AI Power Trade

NEW YORK — Shares of Vertiv Holdings rose more than 7% in early trading Wednesday. Strong results from SpaceX and Super Micro Computer revived investor interest in AI data center infrastructure stocks.

The stock gained $15.43 to $218.98 shortly after the opening bell, giving the company a market value of about $84.3 billion.

AI infrastructure rebounds

Vertiv, based in Westerville, Ohio, makes power and cooling equipment for data centers, including the liquid-cooling systems needed for high-density AI servers. Its shares rose along with a broad group of AI hardware stocks after two major reports Tuesday evening.

SpaceX reported third-quarter revenue of $14.58 billion, far above expectations, with its AI cloud business growing about ninefold. The company also said it expects to spend $35 billion to $40 billion on capital projects in the fourth quarter, mostly for AI computing infrastructure. Spending at that level typically requires large amounts of power and cooling equipment.

Super Micro Computer, which builds AI servers, said its fiscal first-quarter revenue would be $18.5 billion to $19.5 billion, about $4 billion above its own forecast. It credited demand for AI platforms.

In premarket trading, Dell Technologies and Hewlett Packard Enterprise also rose along with Vertiv. AI hardware stocks recovered a significant part of the value they had lost in last week's selloff, according to Benzinga.

Ending a slide

The rally gives some relief after a difficult stretch. Benzinga reported that Vertiv shares fell for 11 straight sessions, the longest losing streak in the stock's history. AI infrastructure stocks dropped after a hotter-than-expected September inflation report raised fears of higher interest rates, and as investors questioned how companies would finance huge AI buildouts.

Even during the decline, analysts remained positive. According to Benzinga, 23 of the 25 analysts covering the stock rate it a buy.

Despite the recent losses, the stock is still up about 19% over the past 52 weeks. It trades at about 47 times trailing earnings.

Earnings next week

Vertiv reports third-quarter results before the market opens Oct. 28. The company has forecast adjusted earnings of $1.77 to $1.83 per share for the quarter and $6.65 to $6.75 per share for the full year. Analysts expect third-quarter earnings of $1.82 per share on revenue of about $3.75 billion.

In the second quarter, Vertiv reported revenue of $3.27 billion, up about 24% from a year earlier. Adjusted earnings of $1.52 per share beat estimates, but revenue fell short of forecasts, and the stock dropped sharply after that report.

The company's order book has grown quickly with the AI boom. At the end of 2025, Vertiv reported a backlog of $15 billion, more than double the year before. Fourth-quarter orders that year rose about 252%, mainly from hyperscale and colocation data center customers in the Americas.

Vertiv joined the S&P 500 in March and has become one of the most closely watched companies in the AI infrastructure trade. Its customers include major cloud operators, and it works closely with Nvidia on power and cooling designs for new AI systems.

What to watch

Next week, investors will focus on whether Vertiv's order growth is holding up and whether margins can continue to improve as it ramps up production. They will also watch for updates on high-voltage direct current power systems, which the company sees as an important growth area for next-generation AI data centers.

The SpaceX and Super Micro reports have eased near-term concerns about AI demand. Vertiv's own results will show whether that demand is turning into new orders for power and cooling equipment.