The Zhitong Finance App learned that Vertiv Holdings (VRT.US), which is dedicated to developing advanced liquid cooling and hybrid cooling solutions for AI data centers, has become the best-performing US stock listed company listed through a special purpose acquisition company (SPAC). With investors' excitement about artificial intelligence, Vertiv Holdings' total market value has exceeded US$30 billion, and has greatly thwarted former US President Donald Trump (Donald Trump)'s media startup Trump Media Technology Group (Trump) (Trump) (DJT.US) is one of the milestones in de-SPAC growth.

According to statistics compiled by the agency, the company, which focuses on the field of artificial intelligence infrastructure, went public after merging with a special purpose acquisition company (SPAC) supported by Goldman Sachs Group in 2020, and its return on stock price since listing has reached an astonishing 555%. Driven by the boom in global AI layout, Vertiv Holdings' increase from 2024 to now has reached 75%. Long before the SPAC boom began in the COVID-19 era, the company's stock price had continued to soar since the first day of listing.

This astonishing increase is particularly prominent in SPAC investors' massive loss data, and its return exceeds the S&P 500 index by more than 8 times. Among the companies merging with special purpose acquisition companies (SPACs), Trump Media Technology Group (DJT.US), which is deeply tied to former US President Trump's “Know Wang Concept Stock”, is undoubtedly the company that has received the most attention. The company's share price narrowly outperformed VertiV after the SPAC merger, but almost all of the gains since the merger have returned.

Wall Street analysts are generally optimistic that the huge scale of investment in artificial intelligence technology by global enterprises will support the continuous expansion of data center capacity. This can be described as a major benefit for Vertiv. Most of the company's revenue comes from sales of products such as data center power management and IT liquid cooling and hybrid cooling systems used in data centers. The company's main business focuses on providing power management and various cooling technologies for data centers around the world.

Vertiv is currently working to develop advanced liquid cooling solutions for AI data centers. More importantly, according to public information, Vertiv and AI chip leader Nvidia (NVDA.US) are collaborating to develop advanced liquid cooling solutions for next-generation NVIDIA AI GPUs to accelerate data centers. Vertiv's high-density power and cooling solutions are designed to support Nvidia's next-generation GPUs to safely run the most compute-intensive AI workloads with optimal performance and high availability.

According to data compiled by the agency, Wall Street analysts gave Vertiv 12 “buy” ratings and 1 “hold” rating. There was no “sell” rating, but according to analysts' average forecast target price, the company's stock price is expected to increase by less than 1% over the next year.

Analyst Noah Kaye (Noah Kaye) from Oppenheimer & Co., is more aggressive about Vertiv's price target, rating the stock as “outperforming the market” and setting the target share price at $96 per share (Vertiv closed at $84.15 on Monday). In an April 4 report, analyst Kay emphasized that “AI megatrends” are expanding the potential market for AI data center capacity, and Vertiv's high-density computing market alone is expected to reach $25 billion by 2026.

Although Trump Media Technology Group previously attracted the attention of Wall Street and meme stock traders, the company's current share price has dropped 36% from its peak to $37.17 per share, dropping it from the list of the best-performing so-called “de-SPAC” companies. On March 26, the stock price of this social media startup, which has the title of “Understanding King Concept Stock”, reached an intraday high of $79.38, making it the second-best performing DE-SPAC market stock at the time, lagging behind Vertiv by about 4%. However, this decline brought it back to the bottom of the list.

Companies such as Vertiv, DraftKings Inc. and Symbotic are in the minority with outstanding stock prices among companies listed through SPAC mergers. According to data compiled by the agency, of the nearly 500 SPAC deals completed since 2019, the current transaction price of more than one-fifth of the underlying transactions is less than $1 per transaction, a decrease of more than 90%.

For Vertiv's investors, it is critical to be able to generate excitement in the rapidly growing AI data center market. The boom in global enterprise deployment of artificial intelligence has greatly increased Wall Street's enthusiasm for investing in Vertiv. Wall Street expects that as the demand for hardware with more computing power on the application side continues to grow, data center infrastructure sales will also increase dramatically.

Amit Darianani, an analyst from Evercore ISI, wrote that among data center physical infrastructure companies, Vertiv “is probably the infrastructure company that can benefit the most from artificial intelligence.” He offered an extremely optimistic bullish view that the stock is likely to soar to $150. Darianani wrote that if the company wants to rebound that far, it needs to achieve strong operating margins and continue to benefit from the transformation of an air cooling system to a liquid cooling system for computer computing-power GPU equipment systems.