Billionaires Like These 2 AI Data Center Stocks
Two AI and data center stocks have attracted significant interest from billionaire-led funds during the second quarter, according to an analysis by Insider Monkey's database of over 900 hedge funds. Vertiv Holdings (NYSE: VRT) topped the list, with 32 billionaire-led funds holding stakes in the company by the end of the quarter, up from 28 in the previous quarter.
Equinix (NASDAQ: EQIX) came in second, with 27 billionaire-led funds holding positions, up from 26 in the first quarter. Among the billionaire investors in Vertiv, Cliff Asness of AQR Capital Management held the largest position at $858.2 million, followed by Leon Cooperman's Omega Advisors with $722.5 million. Vertiv specializes in physical equipment that keeps data centers running, including power products that align with industry trends towards 800 volts of DC power, which reduces energy waste and heat generation.
Despite strong performance and a growing market demand, the company's stock trades at a high valuation compared to its peers in the data center infrastructure equipment sector.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
