Eaton and nVent Electric Thrive as Data Center Boom Ignites AI Workload Surge

The data center boom is fueling explosive growth for industrial firms Eaton and nVent Electric. Eaton, which handles power distribution from the grid level to individual servers, saw its revenue jump by 10.3% year-over-year in fiscal year 2025, reaching nearly $27.4 billion. Net income landed at around $4.1 billion.

nVent, a smaller but faster-growing sibling, reported a 30% increase in revenue for the same period, with net income of roughly $710 million. The company's Q1 2026 results were particularly impressive, with organic sales growth of 34% and infrastructure sales surging nearly 80% year-over-year.

The two companies are well-positioned to benefit from the shift in data center usage, as more facilities convert or co-locate their operations to serve AI workloads. This trend is partly driven by the fact that revenue per megawatt from AI hosting can dwarf what Bitcoin mining generates.