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Beyond GPUs: AI's Data, Network, Infra Plays
2 Sep
Summary
- Innodata prepares AI training data, with revenues surging 58%.
- Applied Optoelectronics supplies high-speed optical networking for data centers.
- Celestica builds AI infrastructure, raising its 2026 revenue outlook.
The artificial intelligence boom presents investment opportunities extending beyond dominant GPU manufacturers like NVIDIA. Companies focusing on data preparation, networking, and infrastructure are also key players.
Innodata (INOD) plays a crucial role in refining the vast datasets required for advanced AI model training. As of its latest report, the company achieved a 58% year-over-year revenue increase to $92.1 million, with adjusted earnings per share of $0.41, significantly surpassing estimates and demonstrating over 100% year-over-year growth. Management anticipates sustained growth, expecting at least 40% revenue expansion in 2026.
Applied Optoelectronics (AAOI) is a vital supplier of high-speed optical networking products essential for data center operations, offering solutions up to 1.6T. Demand for its products has been exceptionally strong, with Q2 revenues climbing 86.4% to $191.9 million. The company's data-center segment alone experienced growth exceeding 140%, reaching $107.7 million, with its 800G business showing rapid expansion.
Celestica (CLS) contributes directly to the AI infrastructure build-out through its Connectivity & Cloud Solutions segment, which provides networking, server, and storage hardware to hyperscale clients. In the second quarter, Celestica reported a 62.4% rise in revenues to $4.70 billion and an 82.7% increase in adjusted EPS to $2.54. The company has boosted its 2026 financial outlook, now projecting revenues of $20.5 billion and adjusted EPS of $11.30, supported by strong AI and networking demand.
