Construction firm Sterling Infrastructure (STRL) rallied 9.3% intraday on June 3, as investors turned their attention toward infrastructure firms tied to data center development. Sterling is primely positioned to benefit from artificial intelligence (AI) buildouts.
The company’s Q1 results showed clear signs of this. Sterling’s E-Infrastructure signed backlog rose 123% compared to the prior year's first quarter. Mission-critical projects such as data centers, manufacturing, and semiconductor facilities accounted for more than 90% of the E-Infrastructure backlog at quarter's end. It is also actively constructing on two data center campuses.
