🟠 This supports the thesis we laid out for institutional subscribers in our March note (https://t.co/OCQCmzLD0l), The Incoming Construction Supercycle, that construction would be among the first parts of the industrial supply chain to “monetize” the acceleration in datacenter investment.

🟠 Because of the sequencing of datacenter construction, this may also point toward a stronger period ahead for equipment suppliers. The shell and initial construction work happens before equipment is pulled into the facility, meaning equipment companies could see a stronger second half of 2026 for orders, especially toward the end of the year and into early 2027.

🟠 Pricing also remains constructive, which in our view indicates a continued favorable demand-supply environment for the OEMs.

🟠 We track demand, capex and revenue as well as the full supplier universe in our new Industrials Dashboard (https://t.co/EZQ4lh7NEd), making it a useful tool to understand where the datacenter investment cycle is accelerating and which parts of the supply chain may benefit next. (3/3)