Data Center Research watchlist.

Arteris, Inc.: Arteris licenses semiconductor system IP that helps chipmakers design complex system-on-chip products. Analyst note: Arteris, Inc. is adjacent to data-center infrastructure because of semiconductor interconnect IP used in CPUs/AI chips powering data centers. Market cap $1.66B, current price $35.95, workbook return 369.9%. Coverage bucket: Adjacent.

Syntec Optics Holdings, Inc.: Syntec Optics manufactures precision optical components and photonics assemblies for defense, medical, communications, and consumer applications. Analyst note: Syntec Optics Holdings, Inc. is adjacent to data-center infrastructure because of optical components used in fiber/high-speed data transmission systems. Market cap $400.8M, current price $9.95, workbook return not available. Coverage bucket: Adjacent.

Aeluma, Inc.: Aeluma develops compound-semiconductor technologies for sensing, communications, and other high-performance electronics markets. Analyst note: Aeluma, Inc. is adjacent to data-center infrastructure because of photonics/semiconductors relevant to high-speed data center interconnects. Market cap $395.0M, current price $21.58, workbook return not available. Coverage bucket: Adjacent.

Silvaco Group, Inc.: Silvaco provides electronic design automation software, semiconductor IP, and simulation tools for chip design and manufacturing. Analyst note: Silvaco Group, Inc. is adjacent to data-center infrastructure because of semiconductor EDA tools used to design chips powering data centers. Market cap $315.8M, current price $9.66, workbook return not available. Coverage bucket: Adjacent.

Babcock & Wilcox Enterprises, Inc.: Babcock & Wilcox provides energy and environmental technologies, boilers, and services for industrial and utility customers. Analyst note: Babcock & Wilcox Enterprises, Inc. is adjacent to data-center infrastructure because of industrial energy/thermal systems relevant to power & heat management. Market cap $2.74B, current price $18.45, workbook return 1266.7%. Coverage bucket: Adjacent.

CECO Environmental Corp.: CECO Environmental designs and sells air quality, fluid handling, separation, and industrial ventilation systems. Analyst note: CECO Environmental Corp. is adjacent to data-center infrastructure because of airflow/ventilation systems applicable to data center cooling environments. Market cap $5.26B, current price $74.75, workbook return 179.3%. Coverage bucket: Adjacent.

Senstar Technologies Ltd.: Senstar provides perimeter intrusion detection, video management, and access control products for physical security applications. Analyst note: Senstar Technologies Ltd. is adjacent to data-center infrastructure because of physical security systems applicable to protecting data centers. Market cap $64.6M, current price $2.77, workbook return -28.2%. Coverage bucket: Adjacent.

CTS Corporation: CTS designs and manufactures sensors, actuators, and electronic components for transportation, industrial, medical, and aerospace markets. Analyst note: CTS Corporation is adjacent to data-center infrastructure because of sensors/electronic components used in computing and industrial systems. Market cap $1.84B, current price $64.21, workbook return not available. Coverage bucket: Adjacent.

FuelCell Energy, Inc.: FuelCell Energy develops stationary fuel-cell platforms that generate power, heat, hydrogen, and carbon-capture solutions. Analyst note: FuelCell Energy, Inc. is adjacent to data-center infrastructure because of fuel cell power systems relevant for onsite clean energy in data centers. Market cap $1.15B, current price $21.66, workbook return 316.5%. Coverage bucket: Adjacent.

Thermon Group Holdings, Inc.: Thermon provides industrial process heating, temperature maintenance, and environmental heating systems. Analyst note: Thermon Group Holdings, Inc. is adjacent to data-center infrastructure because of industrial heating/thermal management systems relevant to facility temperature control. Market cap $2.01B, current price $61.14, workbook return 124.4%. Coverage bucket: Adjacent.

Allient Inc.: Allient designs and manufactures precision motion, control, and power products for industrial and commercial applications. Analyst note: Allient Inc. is adjacent to data-center infrastructure because of motion control and power systems used in industrial automation and infrastructure. Market cap $1.35B, current price $79.16, workbook return 151.5%. Coverage bucket: Adjacent.

Bird Construction Inc.: Bird Construction provides construction services for commercial, institutional, industrial, and infrastructure projects across Canada. Analyst note: Bird Construction Inc. is adjacent to data-center infrastructure because of construction services that can include data center builds and industrial facilities. Market cap not available, current price not available, workbook return not available. Coverage bucket: Adjacent.

Broadwind, Inc.: Broadwind manufactures heavy fabrications, gearing, and industrial solutions for wind energy, mining, oil and gas, and other markets. Analyst note: Broadwind, Inc. is adjacent to data-center infrastructure because of heavy fabrication (steel towers, energy infrastructure) relevant to power and industrial builds. Market cap $82.0M, current price $3.51, workbook return 93.9%. Coverage bucket: Adjacent.

Badger Infrastructure Solutions Ltd.: Badger Infrastructure Solutions provides hydrovac excavation and related non-destructive digging services for infrastructure work. Analyst note: Badger Infrastructure Solutions Ltd. is adjacent to data-center infrastructure because of industrial excavation and fluid management; supports infrastructure development. Market cap not available, current price not available, workbook return not available. Coverage bucket: Adjacent.

Ideal Power Inc.: Ideal Power develops bidirectional power semiconductor switches for electric vehicles, renewable energy, and industrial power applications. Analyst note: Ideal Power Inc. is adjacent to data-center infrastructure because of power conversion and semiconductor-based energy management relevant to efficient data centers. Market cap $119.1M, current price $7.44, workbook return 50.3%. Coverage bucket: Adjacent.

Willdan Group, Inc.: Willdan provides energy efficiency, engineering, grid planning, and municipal consulting services. Analyst note: Willdan Group, Inc. is adjacent to data-center infrastructure because of energy efficiency, engineering, and consulting services used in data center design. Market cap $1.37B, current price $90.84, workbook return 63.1%. Coverage bucket: Adjacent.

Bowman Consulting Group Ltd.: Bowman Consulting provides engineering, planning, surveying, and project management services for infrastructure and real estate projects. Analyst note: Bowman Consulting Group Ltd. is adjacent to data-center infrastructure because of engineering/design firm involved in infrastructure and potentially data center site development. Market cap $552.0M, current price $31.53, workbook return 18.3%. Coverage bucket: Adjacent.

Tecogen Inc.: Tecogen designs, manufactures, and services cogeneration, chiller, and heat-pump systems for commercial and industrial sites. Analyst note: Tecogen Inc. is adjacent to data-center infrastructure because of onsite power and cooling (CHP systems) relevant to data center energy efficiency. Market cap $185.8M, current price $6.21, workbook return 16.7%. Coverage bucket: Adjacent.

NET Power Inc.: NET Power develops natural-gas power generation technology designed to produce low-emission electricity. Analyst note: NET Power Inc. is adjacent to data-center infrastructure because of clean energy power generation technology potentially relevant for high-load data centers. Market cap $451.8M, current price $2.01, workbook return -6.5%. Coverage bucket: Adjacent.

Fuel Tech, Inc.: Fuel Tech provides air pollution control, boiler optimization, engineering services, and water treatment technologies for industrial and utility customers. Analyst note: Fuel Tech, Inc. is adjacent to data-center infrastructure because of engineering services and industrial power optimization used around energy-intensive infrastructure. Market cap $46.1M, current price $1.30, workbook return 27.5%. Coverage bucket: Adjacent.

Knightscope, Inc.: Knightscope develops autonomous security robots and emergency communication devices for public safety and facility monitoring. Analyst note: Knightscope, Inc. is adjacent to data-center infrastructure because of autonomous security robots potentially applicable to data center security. Market cap $50.4M, current price $2.92, workbook return -51.5%. Coverage bucket: Adjacent.

Clean Energy Technologies, Inc.: Clean Energy Technologies develops heat recovery, renewable energy, and power generation systems for commercial and industrial customers. Analyst note: Clean Energy Technologies, Inc. is adjacent to data-center infrastructure because of energy efficiency and power generation systems relevant to industrial facilities. Market cap $8.9M, current price $0.74, workbook return -81.7%. Coverage bucket: Adjacent.

CSP Inc.: CSP provides IT integration, managed services, cybersecurity, and packet-processing products for enterprise and government customers. Analyst note: CSP Inc. is adjacent to data-center infrastructure because of iT integration and cybersecurity services supporting enterprise and cloud environments. Market cap $99.6M, current price $9.89, workbook return -28.6%. Coverage bucket: Adjacent.

Limbach Holdings, Inc.: Limbach provides mechanical, electrical, plumbing, and building systems services for commercial and institutional facilities. Analyst note: Limbach Holdings, Inc. is adjacent to data-center infrastructure because of mechanical systems contractor (HVAC, plumbing) used in data center construction. Market cap $923.3M, current price $77.45, workbook return -42.3%. Coverage bucket: Adjacent.

Identiv, Inc.: Identiv provides RFID, NFC, access control, and identity products for security, authentication, and connected-device applications. Analyst note: Identiv, Inc. is adjacent to data-center infrastructure because of physical security and RFID access control systems used in secure facilities including data centers. Market cap $98.4M, current price $4.10, workbook return 26.5%. Coverage bucket: Adjacent.

AirJoule Technologies Corporation: AirJoule Technologies develops atmospheric water harvesting and energy-efficient dehumidification systems. Analyst note: AirJoule Technologies Corporation is adjacent to data-center infrastructure because of energy-efficient cooling/dehumidification tech relevant to data center thermal management. Market cap $307.4M, current price $4.49, workbook return 10.9%. Coverage bucket: Adjacent.

ADTRAN Holdings, Inc.: ADTRAN provides fiber access, networking, and cloud-managed connectivity equipment for broadband and communications providers. Analyst note: ADTRAN Holdings, Inc. is adjacent to data-center infrastructure because of networking and telecom equipment used in data center and edge connectivity. Market cap $1.34B, current price $16.55, workbook return not available. Coverage bucket: Adjacent.

A10 Networks, Inc.: A10 Networks provides application delivery, load balancing, DDoS protection, and cybersecurity products for service providers and enterprises. Analyst note: A10 Networks, Inc. is adjacent to data-center infrastructure because of application delivery controllers and cybersecurity appliances used in cloud/data center traffic management. Market cap $2.17B, current price $30.14, workbook return not available. Coverage bucket: Adjacent.

Applied Optoelectronics, Inc.: Applied Optoelectronics designs and manufactures optical networking products, lasers, and fiber-optic components. Analyst note: Applied Optoelectronics, Inc. is adjacent to data-center infrastructure because of optical transceivers used in high-speed data center fiber networks. Market cap $12.71B, current price $158.41, workbook return not available. Coverage bucket: Adjacent.

MaxLinear, Inc.: MaxLinear designs mixed-signal and radio-frequency semiconductors for broadband, connectivity, infrastructure, and industrial applications. Analyst note: MaxLinear, Inc. is adjacent to data-center infrastructure because of high-speed analog and mixed-signal semiconductors used in networking and broadband infrastructure. Market cap $8.32B, current price $92.93, workbook return 667.4%. Coverage bucket: Adjacent.

Vicor Corporation: Vicor designs and manufactures high-performance power modules and power systems for computing, industrial, automotive, and aerospace customers. Analyst note: Vicor Corporation is adjacent to data-center infrastructure because of high-efficiency power modules used in servers, AI compute, and data center power delivery. Market cap $15.26B, current price $334.84, workbook return 655.7%. Coverage bucket: Adjacent.

Hammond Power Solutions Inc.: Hammond Power Solutions manufactures dry-type transformers, power quality products, and related magnetic components. Analyst note: Hammond Power Solutions Inc. is adjacent to data-center infrastructure because of transformers and power systems used in electrical infrastructure including data centers. Market cap $2.96B, current price $323.89, workbook return 199.5%. Coverage bucket: Adjacent.

Perma-Pipe International Holdings, Inc.: Perma-Pipe manufactures insulated piping systems and leak detection products for energy, chemical, district heating, and industrial markets. Analyst note: Perma-Pipe International Holdings, Inc. is adjacent to data-center infrastructure because of thermal piping systems used in industrial cooling and infrastructure, including data centers. Market cap $249.3M, current price $30.69, workbook return 113.1%. Coverage bucket: Adjacent.

Duos Technologies Group, Inc.: Duos Technologies develops intelligent vision, inspection, and automation systems for rail, logistics, and critical infrastructure customers. Analyst note: Duos Technologies Group, Inc. is adjacent to data-center infrastructure because of aI-driven inspection and security systems potentially applicable to infrastructure monitoring. Market cap $395.9M, current price $13.50, workbook return 67.7%. Coverage bucket: Adjacent.

AXT, Inc.: AXT manufactures compound-semiconductor substrates including gallium arsenide, indium phosphide, and germanium wafers. Analyst note: AXT, Inc. is adjacent to data-center infrastructure because of semiconductor substrates used in high-performance chips for networking and compute. Market cap $6.75B, current price $103.16, workbook return 5828.7%. Coverage bucket: Adjacent.

Aehr Test Systems: Aehr Test Systems provides semiconductor test and burn-in equipment for wafer-level and packaged-device production. Analyst note: Aehr Test Systems is adjacent to data-center infrastructure because of semiconductor testing equipment used in production of AI/data center chips. Market cap $2.90B, current price $92.33, workbook return 734.8%. Coverage bucket: Adjacent.

Optical Cable Corporation: Optical Cable Corporation manufactures fiber-optic and copper cabling products for enterprise, industrial, military, and broadcast networks. Analyst note: Optical Cable Corporation is adjacent to data-center infrastructure because of fiber optic cabling used in data center interconnects. Market cap $122.8M, current price $13.90, workbook return 411.0%. Coverage bucket: Adjacent.

RF Industries, Ltd.: RF Industries designs and distributes interconnect products, cable assemblies, and network components for communications markets. Analyst note: RF Industries, Ltd. is adjacent to data-center infrastructure because of rF and connectivity components used in telecom and data infrastructure. Market cap $191.3M, current price $17.69, workbook return 331.5%. Coverage bucket: Adjacent.

Bel Fuse Inc.: Bel Fuse designs and manufactures power conversion, circuit protection, magnetic, and connectivity products. Analyst note: Bel Fuse Inc. is adjacent to data-center infrastructure because of power, protection, and magnetic components used in servers and networking hardware. Market cap $3.86B, current price $244.94, workbook return 270.8%. Coverage bucket: Adjacent.

Electrovaya Inc.: Electrovaya designs and manufactures lithium-ion battery systems for material handling, transportation, and stationary energy applications. Analyst note: Electrovaya Inc. is adjacent to data-center infrastructure because of lithium-ion battery systems used for backup power and energy storage in facilities. Market cap $795.1M, current price $11.69, workbook return 264.2%. Coverage bucket: Adjacent.

Lantronix, Inc.: Lantronix provides IoT, embedded computing, and remote device management products for industrial and enterprise customers. Analyst note: Lantronix, Inc. is adjacent to data-center infrastructure because of ioT and edge networking solutions used in industrial and data center device management. Market cap $300.6M, current price $7.55, workbook return 225.4%. Coverage bucket: Adjacent.

Silicom Ltd.: Silicom designs and manufactures networking cards, edge platforms, and connectivity hardware for communications and security applications. Analyst note: Silicom Ltd. is adjacent to data-center infrastructure because of network interface cards and acceleration hardware used in data centers. Market cap $230.0M, current price $40.30, workbook return 174.7%. Coverage bucket: Adjacent.

Cohu, Inc.: Cohu provides semiconductor test handlers, inspection equipment, interface products, and related services. Analyst note: Cohu, Inc. is adjacent to data-center infrastructure because of semiconductor test and inspection equipment supporting chip manufacturing. Market cap $2.49B, current price $52.75, workbook return 194.2%. Coverage bucket: Adjacent.

Ameresco, Inc.: Ameresco develops energy efficiency, renewable energy, and infrastructure projects for commercial, institutional, and government customers. Analyst note: Ameresco, Inc. is adjacent to data-center infrastructure because of energy efficiency and infrastructure optimization for large facilities including data centers. Market cap $1.91B, current price $35.98, workbook return 142.3%. Coverage bucket: Adjacent.

Rogers Corporation: Rogers Corporation manufactures engineered materials used in electronics, electric vehicles, communications, and industrial applications. Analyst note: Rogers Corporation is adjacent to data-center infrastructure because of advanced materials (thermal/interface materials, substrates) used in electronics and data center hardware. Market cap $2.53B, current price $141.52, workbook return 112.9%. Coverage bucket: Adjacent.

Standex International Corporation: Standex International manufactures electronics, engraving, scientific, specialty, and engineering products for industrial markets. Analyst note: Standex International Corporation is adjacent to data-center infrastructure because of industrial components (transformers, sensing, thermal products) with limited but real infrastructure overlap. Market cap $3.36B, current price $277.01, workbook return 81.3%. Coverage bucket: Adjacent.

Methode Electronics, Inc.: Methode Electronics designs and manufactures custom-engineered user interfaces, sensors, power products, and electronic assemblies. Analyst note: Methode Electronics, Inc. is adjacent to data-center infrastructure because of electronic connectors, power distribution, and sensing used in servers and industrial systems. Market cap $408.9M, current price $11.54, workbook return 44.3%. Coverage bucket: Adjacent.

Mattr Corp.: Mattr provides composite systems, protective technologies, and pipeline products for energy, infrastructure, and industrial markets. Analyst note: Mattr Corp. is adjacent to data-center infrastructure because of composite materials and infrastructure products used in energy and industrial systems. Market cap not available, current price not available, workbook return not available. Coverage bucket: Adjacent.

Power Solutions International, Inc.: Power Solutions International designs and manufactures engines and power systems for industrial, transportation, and energy applications. Analyst note: Power Solutions International, Inc. is adjacent to data-center infrastructure because of engine-based power generation systems used for backup and distributed energy (data center support role). Market cap $960.7M, current price $41.68, workbook return -1.8%. Coverage bucket: Adjacent.

Unisys Corporation: Unisys provides digital workplace, cloud, enterprise computing, and business process solutions for large organizations. Analyst note: Unisys Corporation is adjacent to data-center infrastructure because of iT services and enterprise computing infrastructure used in cloud and data center environments. Market cap $269.0M, current price $3.69, workbook return -0.5%. Coverage bucket: Adjacent.

California Nanotechnologies Corp.: California Nanotechnologies provides advanced materials processing services, including spark plasma sintering and cryogenic milling, for aerospace, defense, energy, and industrial customers. Analyst note: California Nanotechnologies Corp. is adjacent to data-center infrastructure because of advanced materials processing and nano-scale manufacturing capabilities that may support high-performance electronics, thermal materials, and industrial component supply chains. Market cap $13.1M, current price $0.27, workbook return 32.2%. Coverage bucket: Adjacent.

Comstock Holding Companies, Inc.: Comstock Holding Companies develops, manages, and monetizes mixed-use and transit-oriented real estate assets in the Washington, D.C. region. Analyst note: Comstock Holding Companies, Inc. is adjacent to data-center infrastructure because of real estate development and asset management exposure in Northern Virginia infrastructure markets, where data-center site development and power-constrained commercial assets are relevant diligence themes. Market cap $157.9M, current price $15.39, workbook return 0.2%. Coverage bucket: Adjacent.

Core Molding Technologies, Inc.: Core Molding Technologies manufactures thermoplastic and thermoset structural products for medium and heavy-duty trucks, power sports, building products, industrial, utilities, and commercial markets. Analyst note: Core Molding Technologies, Inc. is adjacent to data-center infrastructure because of structural thermoplastic and thermoset manufacturing used in industrial, utilities, building products, and equipment supply chains that can support facility buildouts. Market cap $202.3M, current price $23.62, workbook return -2.2%. Coverage bucket: Adjacent.

Tredegar Corporation: Tredegar manufactures aluminum extrusions and high-performance polyethylene and polypropylene films for building, construction, electrical, renewable energy, machinery, displays, and other industrial markets. Analyst note: Tredegar Corporation is adjacent to data-center infrastructure because of aluminum extrusions, structural framing systems, electrical and renewable-energy market exposure, and protective films used around electronics and industrial supply chains. Market cap $258.9M, current price $7.42, workbook return 0.0%. Coverage bucket: Adjacent.

Arqit Quantum Inc.: Arqit develops encryption and network security software built around symmetric key agreement technology. Analyst note: Arqit Quantum Inc. is adjacent to data-center infrastructure because of quantum encryption/security software relevant to secure data transmission in cloud/data centers. Market cap $54.2M, current price $16.51, workbook return -23.5%. Coverage bucket: Adjacent.

ESS Tech, Inc.: ESS Tech manufactures iron-flow battery systems for long-duration energy storage applications. Analyst note: ESS Tech, Inc. is adjacent to data-center infrastructure because of long-duration energy storage systems relevant for stabilizing large power loads including data centers. Market cap $29.7M, current price $1.01, workbook return -20.5%. Coverage bucket: Adjacent.

GSI Technology, Inc.: GSI Technology designs and sells high-performance memory products and associative computing technology. Analyst note: GSI Technology, Inc. is adjacent to data-center infrastructure because of memory and semiconductor solutions used in high-performance computing applications. Market cap $359.1M, current price $9.93, workbook return not available. Coverage bucket: Adjacent.

POET Technologies Inc.: POET Technologies develops photonic integration platforms and optical engine products for communications and computing markets. Analyst note: POET Technologies Inc. is adjacent to data-center infrastructure because of photonic integrated circuits for high-speed optical interconnects in data centers. Market cap $2.12B, current price $12.29, workbook return not available. Coverage bucket: Adjacent.

SkyWater Technology, Inc.: SkyWater Technology operates a semiconductor foundry that develops and manufactures specialty integrated circuits. Analyst note: SkyWater Technology, Inc. is adjacent to data-center infrastructure because of semiconductor foundry producing chips relevant to compute and specialized workloads. Market cap $1.92B, current price $38.98, workbook return not available. Coverage bucket: Adjacent.

ACM Research, Inc.: ACM Research provides wafer cleaning, plating, and other process equipment for semiconductor manufacturing. Analyst note: ACM Research, Inc. is adjacent to data-center infrastructure because of semiconductor equipment used in chip manufacturing for AI and data center processors. Market cap $5.98B, current price $86.56, workbook return not available. Coverage bucket: Adjacent.

NetScout Systems, Inc.: NetScout provides service assurance, network visibility, cybersecurity, and performance management products. Analyst note: NetScout Systems, Inc. is adjacent to data-center infrastructure because of network monitoring and cybersecurity tools used in data center traffic management. Market cap $2.98B, current price $41.62, workbook return not available. Coverage bucket: Adjacent.

Atomera Incorporated: Atomera licenses semiconductor materials technology intended to improve transistor performance and manufacturing economics. Analyst note: Atomera Incorporated is adjacent to data-center infrastructure because of semiconductor materials technology improving chip performance used in data center computing. Market cap $386.4M, current price $9.98, workbook return not available. Coverage bucket: Adjacent.

Everspin Technologies, Inc.: Everspin Technologies designs and sells magnetoresistive random-access memory products for industrial and enterprise systems. Analyst note: Everspin Technologies, Inc. is adjacent to data-center infrastructure because of mRAM memory technology used in enterprise and high-performance computing systems. Market cap $618.5M, current price $26.38, workbook return not available. Coverage bucket: Adjacent.

Innodata Inc.: Innodata provides AI training data, data engineering, and content transformation services for technology and enterprise customers. Analyst note: Innodata Inc. is adjacent to data-center infrastructure because of data/AI services, annotation, and content engineering used in training AI models and cloud workflows. Market cap $3.43B, current price $104.98, workbook return not available. Coverage bucket: Adjacent.

Benchmark Electronics, Inc.: Benchmark Electronics provides electronics manufacturing, engineering, and supply-chain services for aerospace, defense, medical, and industrial customers. Analyst note: Benchmark Electronics, Inc. is adjacent to data-center infrastructure because of electronics manufacturing services producing hardware used in networking, servers, and industrial systems. Market cap $3.03B, current price $84.46, workbook return not available. Coverage bucket: Adjacent.

American Superconductor Corporation: American Superconductor provides power electronics, grid systems, and ship protection products. Analyst note: American Superconductor Corporation is adjacent to data-center infrastructure because of power systems and grid technologies relevant to large energy loads like data centers. Market cap $2.43B, current price $50.94, workbook return not available. Coverage bucket: Adjacent.

Shenandoah Telecommunications Company: Shenandoah Telecommunications provides fiber broadband, wireless backhaul, and telecommunications services in the Mid-Atlantic region. Analyst note: Shenandoah Telecommunications Company is adjacent to data-center infrastructure because of fiber broadband and telecom infrastructure supporting data center connectivity. Market cap $882.4M, current price $15.95, workbook return not available. Coverage bucket: Adjacent.

NVE Corporation: NVE develops spintronic sensors, couplers, and memory-related devices for industrial, medical, and scientific applications. Analyst note: NVE Corporation is adjacent to data-center infrastructure because of spintronics sensors and memory tech used in specialized electronics and computing systems. Market cap $473.8M, current price $97.94, workbook return not available. Coverage bucket: Adjacent.

ePlus inc.: ePlus provides technology solutions, financing, cloud, security, networking, and managed services for enterprise customers. Analyst note: ePlus inc. is adjacent to data-center infrastructure because of iT solutions, cloud services, and infrastructure integration for enterprise and data centers. Market cap $2.15B, current price $82.09, workbook return not available. Coverage bucket: Adjacent.

Veeco Instruments Inc.: Veeco designs and manufactures semiconductor process equipment for laser, photonics, display, and advanced packaging applications. Analyst note: Veeco Instruments Inc. is adjacent to data-center infrastructure because of semiconductor equipment used in fabrication of advanced chips for AI/data center workloads. Market cap $3.52B, current price $57.64, workbook return not available. Coverage bucket: Adjacent.

PDF Solutions, Inc.: PDF Solutions provides analytics software and services that help semiconductor companies improve yield and manufacturing performance. Analyst note: PDF Solutions, Inc. is adjacent to data-center infrastructure because of semiconductor analytics and yield optimization tools used in chip manufacturing. Market cap $2.04B, current price $48.83, workbook return not available. Coverage bucket: Adjacent.

Pioneer Power Solutions, Inc.: Pioneer Power Solutions manufactures power systems, switchgear, and mobile electric charging products. Analyst note: Pioneer Power Solutions, Inc. is adjacent to data-center infrastructure because of power distribution equipment relevant to industrial and data center energy systems. Market cap $60.1M, current price $5.42, workbook return not available. Coverage bucket: Adjacent.

Inseego Corp.: Inseego develops 5G mobile broadband, fixed wireless access, and IoT connectivity products. Analyst note: Inseego Corp. is adjacent to data-center infrastructure because of 5G and wireless networking equipment used in edge connectivity for cloud/data infrastructure. Market cap $213.6M, current price $13.12, workbook return not available. Coverage bucket: Adjacent.

Peraso Inc.: Peraso develops millimeter-wave wireless chipsets and modules for high-speed fixed wireless and consumer electronics applications. Analyst note: Peraso Inc. is adjacent to data-center infrastructure because of mmWave wireless semiconductor tech relevant to high-speed connectivity systems. Market cap $16.4M, current price $1.11, workbook return not available. Coverage bucket: Adjacent.

CEVA, Inc.: CEVA licenses signal processing, AI, wireless, and sensing IP for semiconductor and device makers. Analyst note: CEVA, Inc. is adjacent to data-center infrastructure because of dSP and AI IP cores used in semiconductors powering networking and data center chips. Market cap $1.11B, current price $39.98, workbook return not available. Coverage bucket: Adjacent.

ATN International, Inc.: ATN International owns and operates communications networks and renewable energy assets in rural and underserved markets. Analyst note: ATN International, Inc. is adjacent to data-center infrastructure because of telecom infrastructure and fiber networks supporting data transmission and cloud connectivity. Market cap $433.0M, current price $28.16, workbook return not available. Coverage bucket: Adjacent.

Penguin Solutions, Inc.: Penguin Solutions provides high-performance computing, memory, and advanced technology infrastructure for enterprise and government customers. Analyst note: Penguin Solutions, Inc. is adjacent to data-center infrastructure because of high-performance computing, memory, and infrastructure solutions for AI/data centers. Market cap $2.83B, current price $55.83, workbook return 193.1%. Coverage bucket: Core DC direct.

Data Storage Corporation: Data Storage Corporation provides cloud hosting, managed IT, disaster recovery, and business continuity services. Analyst note: Data Storage Corporation is adjacent to data-center infrastructure because of provides managed IT, cloud, and data storage services directly tied to data center infrastructure. Market cap $8.1M, current price $3.73, workbook return -2.1%. Coverage bucket: Core DC direct.

Soluna Holdings, Inc.: Soluna develops modular computing facilities powered by renewable energy and sells computing services for blockchain and AI workloads. Analyst note: Soluna Holdings, Inc. is adjacent to data-center infrastructure because of develops renewable-powered high-performance computing/data center infrastructure (notably for crypto/AI workloads). Market cap $323.1M, current price $1.70, workbook return not available. Coverage bucket: Core DC direct.

Backblaze, Inc.: Backblaze provides cloud storage, computer backup, and object storage services for consumers, developers, and businesses. Analyst note: Backblaze, Inc. is adjacent to data-center infrastructure because of operates large-scale cloud storage and backup infrastructure (data center–based storage provider). Market cap $496.8M, current price $8.28, workbook return not available. Coverage bucket: Core DC direct.

One Stop Systems, Inc.: One Stop Systems designs rugged high-performance computing hardware, flash storage, and AI transportable systems. Analyst note: One Stop Systems, Inc. is adjacent to data-center infrastructure because of high-performance computing, edge computing, and AI server hardware. Market cap $449.8M, current price $18.18, workbook return 492.2%. Coverage bucket: Core DC direct.

TSS, Inc.: TSS provides integration, deployment, maintenance, and facility services for technology infrastructure customers. Analyst note: TSS, Inc. is adjacent to data-center infrastructure because of provides semiconductor services, IT infrastructure, and data center support operations. Market cap $462.7M, current price $16.48, workbook return -2.7%. Coverage bucket: Core DC direct.

Jet.AI Inc.: Jet.AI develops aviation software, charter booking tools, and AI-powered services for private aviation operators and customers. Analyst note: Jet.AI Inc. has indirect or weak data-center relevance: AI aviation/software; relies on cloud compute but not DC infrastructure. Market cap $11.8M, current price $8.32, workbook return -99.1%. Coverage bucket: Indirect / weak.

Solaris Energy Infrastructure, Inc.: Solaris Energy Infrastructure provides mobile power, logistics, and equipment services for energy and industrial customers. Analyst note: Solaris Energy Infrastructure, Inc. has indirect or weak data-center relevance: Energy infrastructure; indirect exposure via power supply to industrial loads. Market cap $5.11B, current price $69.54, workbook return 156.3%. Coverage bucket: Indirect / weak.

Matrix Service Company: Matrix Service Company provides engineering, fabrication, construction, and maintenance services for energy and industrial infrastructure. Analyst note: Matrix Service Company has indirect or weak data-center relevance: Industrial construction; may support builds but not DC-focused tech. Market cap $369.4M, current price $13.13, workbook return 6.7%. Coverage bucket: Indirect / weak.

Lightbridge Corporation: Lightbridge develops advanced nuclear fuel technology for commercial reactors. Analyst note: Lightbridge Corporation has indirect or weak data-center relevance: Nuclear fuel tech; indirect relevance via long-term energy supply. Market cap $403.5M, current price $11.48, workbook return -21.9%. Coverage bucket: Indirect / weak.

TOMI Environmental Solutions, Inc.: TOMI Environmental Solutions provides disinfection and decontamination products based on ionized hydrogen peroxide technology. Analyst note: TOMI Environmental Solutions, Inc. has indirect or weak data-center relevance: Disinfection/sterilization tech; minimal data center relevance. Market cap $20.2M, current price $0.93, workbook return -18.4%. Coverage bucket: Indirect / weak.

Mayville Engineering Company, Inc.: Mayville Engineering provides contract manufacturing, metal fabrication, coating, assembly, and engineering services. Analyst note: Mayville Engineering Company, Inc. has indirect or weak data-center relevance: Contract metal fabrication; potential industrial builds but not data center specific. Market cap $682.4M, current price $26.85, workbook return 78.8%. Coverage bucket: Indirect / weak.