With Anthropic’s potential IPO putting the AI boom once again in the spotlight, investors are naturally looking for companies supplying the infrastructure needed to support it. GE Vernova (NYSE: GEV), Quanta Services (NYSE: PWR), and Eaton (NYSE: ETN) are three industrial stocks that could benefit from the massive spending behind AI, whether or not you get a chance to buy Anthropic shares.
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GE Vernova powers the AI energy build-out
Training and running AI models require a lot of power, and existing grids can’t deliver that electricity fast enough. This creates significant demand for power generation equipment and new grid infrastructure.
That’s where GE Vernova comes into the picture. Its Power business supplies turbines that generate electricity, while its Electrification business provides the equipment to transmit and manage that power. Its gas turbines are useful for data centers that need on-site power while they wait for grid connections.
In the second quarter of 2026, data center orders exceeded $5 billion year to date, more than double the 2025 total. So it’s not surprising that management expects data centers to represent 25% of its orders in 2026, up from just 10% in 2024.
Today, GE Vernova is powering actual AI data center projects. For example, it has an agreement with AI infrastructure provider Crusoe to supply gas turbines for AI data centers, while another partnership with Chevron targets 4 gigawatts of power by 2027.
But generating more power is only half the equation.
Quanta Services builds AI’s power infrastructure
As data centers consume more electricity, utilities need to build the infrastructure to supply it, and Quanta is one of the companies behind that build-out. To accommodate rising demand from data centers, these utilities are investing heavily in more transmission lines and grid connections. Quanta Services is one of the contractors that builds and maintains that infrastructure.
Quanta also works directly on the electrical infrastructure inside data centers, including low-voltage electrical and mechanical systems. The company says its recent acquisitions have increased demand for its electrical design and installation work, particularly from the data center industry.
That means Quanta isn’t just building grid connections but also the electrical systems that data centers run on. Its acquisition of Cupertino Electric gives it stronger capabilities in designing electrical systems for large data centers.
The AI boom is also helping expand Quanta’s total addressable market. The company’s backlog reached $53.4 billion in the second quarter, driven by stronger demand for power infrastructure, including projects supporting data centers.
But once that power is delivered, data centers still need to manage it effectively.
Eaton manages the electricity powering AI
As companies build more data centers, they need more than just powerful chips. They also need electrical equipment to distribute and manage the electricity that those facilities consume. That’s where Eaton comes in.
Eaton supplies products such as power distribution and management systems for data centers. This gives the company exposure to AI spending without needing to compete in the AI software market.
Management believes that data centers remain a key growth driver. In fact, the company reported a record second quarter, with sales up 21% year over year to $8.5 billion. Electrical infrastructure remains a major growth engine, with data centers a key source of demand.
Eaton has also collaborated with Nvidia on data center designs, including electrical systems tailored to AI factories and dense AI workloads.
The AI build-out is far from over, and spending will continue flowing to companies beyond chipmakers and model providers.
Can industrial stocks be the next AI winners?
The AI boom is creating opportunities beyond AI companies. GE Vernova handles power generation for data centers; Quanta Services builds the electrical systems inside those data centers; and Eaton supplies the equipment used to manage that power.
The only catch? None of these stocks is cheap today. But buying them on a meaningful pullback could give investors solid upside, whether or not they buy Anthropic shares.
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Rick Orford has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron, Eaton Plc, GE Vernova, Nvidia, and Quanta Services. The Motley Fool has a disclosure policy.
