Key Highlights

● Vertiv soared after orders more than doubled.

● Flex jumped after raising its full-year revenue guidance.

● Amphenol climbed on record orders and a dividend raise.

● Not every supplier joined the rally.

The companies selling the tools of the artificial intelligence boom had a banner day, as Vertiv Holdings, Flex and Amphenol all rallied after strong quarterly reports, cementing their status as picks-and-shovels plays on the data-center buildout.

Vertiv led the charge, soaring to one of the biggest gains of the session, after organic orders more than doubled and the company raised its full-year sales forecast, with its CEO saying the industry is in the middle of the largest infrastructure build-out and it is accelerating.

Flex Raised Its Forecast

Flex jumped after raising its full-year revenue guidance, with adjusted earnings topping expectations. The company said it expects sales in its cloud and power infrastructure business to surge, and it has a planned spin-off in the works.

Flex's strength also lifted other electronics manufacturers that moved with the sector on the strength of the broader AI hardware trade.

Amphenol Posted Record Orders

Amphenol, which makes connectors and cables, climbed after reporting record orders and strong organic sales growth, citing continued exceptional growth in the IT datacom market, while also raising its dividend and announcing a new buyback.

The rally was not universal, as TE Connectivity, another connector maker, slipped despite orders tied to AI spending, and GE Vernova edged lower after agreeing to buy Trench Group for $9.0 billion, showing investor enthusiasm was not unconditional.