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SolarEdge is developing an MVAC-to-800 VDC power technology for AI data centers, showcased at the NVIDIA AI Factory MGX Ecosystem Showcase, to improve power delivery, distribution and protection for next-generation AI systems. The move could help diversify beyond its solar and energy-management markets, and its work with NVIDIA and the Open Compute Project ecosystem may open doors with industry stakeholders. However, commercial success depends on system validation, customer adoption, the pace of 800 VDC deployment, and proof of reliability, safety and cost-effectiveness. The article also highlights Enphase (ENPH), which is developing its IQ Solid-State Transformer to convert medium-voltage AC directly to 800 VDC, and First Solar (FSLR), which could benefit from rising solar demand driven by AI data centers' electricity needs.
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Bloomberg reported that ByteDance is close to buying custom AI chips (ASICs) from Taiwan's MediaTek for its data centers, a move seen as a competitive signal for Qualcomm and Broadcom. ByteDance had earlier agreed to buy millions of AI chips from Qualcomm, and a shift toward custom ASICs could pressure Nvidia, though U.S. export restrictions are already pushing Chinese firms to seek alternatives. ByteDance is reportedly weighing up to $70 billion in capex this year, more than double last year's, while MediaTek expects about $2 billion in AI-chip sales this year and targets 15% of an $80 billion market next year. The broader chip sector sold off, with the iShares Semiconductor ETF (SOXX) falling for a seventh straight session and South Korea's Kospi tumbling more than 7% on Thursday. Year to date, QCOM is up 2.5%, AVGO up 0.5% and NVDA up 19%.
- Got $5,000? 2 Stocks Supplying the AI Data Center Power Crunch.
McKinsey projects data center electricity demand could grow 24% annually through 2030, with power supply lagging computing demand, and Vistra (VST) and GE Vernova (GEV) are highlighted as stocks positioned to help close that gap. Vistra's adjusted operating profit rose more than 30% year over year to nearly $1.8 billion in Q2 2026, though its stock fell 19% over the past year and trades at 27 times trailing earnings, with analysts expecting 34% annual earnings growth. Management expects annual load to grow at least 4% to 6% in ERCOT and 2% to 3% in PJM through 2030, driven by industrial reshoring, electrification, population growth and data centers. GE Vernova's total backlog reached $176 billion in Q2 2026 and is on track to hit $200 billion in 2027, while data center electrification orders topped $5 billion in the first half of 2026. The stock trades at 29 times earnings against projected 36% annual earnings growth, and the article flags execution risk on the backlog and softness in wind as potential headwinds.
- Dell stock plunges 11%, leading data center sell-off as fears mount about 'enterprise AI timing'
Dell shares fell 11% on Wednesday, dragging down Hewlett-Packard Enterprise, Oracle and Super Micro as concerns grew that enterprise AI spending won't justify the AI infrastructure buildout. Barclays downgraded Dell, HPE and NetApp to hold from buy, citing their strong run and a lack of a "meaningful AI inflection" in enterprise spending. The bank attributes recent revenue gains mainly to the global memory shortage and higher memory prices passed on to customers, noting businesses typically allocate just 5% of IT budgets to AI. Dell is up more than 300% this year, while Oracle, a heavy borrower, is down 33% year to date after falling 9% on Wednesday, and CoreWeave dropped 15%. Barclays warned that normalizing or declining memory prices could weigh on infrastructure revenue, and memory stocks were also hit after China's CXMT reported progress on a new chip structure.
- BlackRock's Larry Fink warns a data center moratorium could trigger a recession
BlackRock CEO Larry Fink warned that a halt to data center construction in the United States could trigger a recession, saying much of the economy is based on the buildout of this capex. He made the remarks to CNBC after BlackRock reported better-than-expected third-quarter earnings, with its shares rising about 1% in late morning trading. Fink acknowledged local opposition over utility costs, water use, environmental damage and investment transparency, an emerging issue ahead of the Nov. 3 midterm elections, but said most of the concern rests on misinformation. Wall Street analysts estimate AI capital spending could exceed $1 trillion in 2027 and $5 trillion by 2030. Fink argued that data centers are creating more jobs than ever, supporting demand for construction workers, AI hardware and energy infrastructure.
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- The Best Trillion-Dollar Stock to Buy Right Now, According to Wall Street
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Nvidia's trailing P/E ratio is about 27, its lowest since June 2019 and less than half its 10-year average of 61.3, even though the share price has nearly tripled since Aswath Damodaran called the stock a bridge too far in early 2024. The article argues the only mathematical explanation is that earnings are growing faster than the share price, with second quarter fiscal 2027 revenue up 106% to $92.6 billion and earnings up 126%. Damodaran's 2024 valuation model assumed revenue growth of around 32% a year over five years, a pace Nvidia is now far exceeding. Risks noted include doubts about returns on huge AI infrastructure spending, local opposition to data centers, and rising competition from AMD and customers such as Amazon, Google and Microsoft. The author says Damodaran was badly wrong about Nvidia and suggests the trend could continue.
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Coteccons (CTD) views the entry of VinCons (Vingroup) and Tân Minh Nhân (Sun Group) as a force raising industry standards, and its chairman Bolat Duisenov prefers not to compare the company with other contractors. Instead, management focuses on three questions: how to become investors' first choice, how to attract and retain talent, and how to diversify revenue. In fiscal 2026, net revenue rose 38% to VND 34,340 billion and after-tax profit rose 73% to VND 788 billion, while backlog reached a record VND 70,000 billion. The company targets revenue of VND 42,000 billion and profit of VND 1,050 billion for fiscal 2027, although new contracts signed in Q1 of fiscal 2027 totaled VND 14,519 billion, down year on year, as it tightens client and project selection. Bolat said the company can sustain 20-30% growth in the coming years and is shifting its focus from volume to efficiency.
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