Celestica, a Toronto-based electronics manufacturing services provider trading as CLS on both the NYSE and TSX, is positioned for significant growth driven by demand from Google and OpenAI for data center hardware. The company supplies custom servers and Ethernet switches at 400G, 800G and 1.6T speeds, with Google naming Celestica as a primary collaborator on its Tensor Processing Unit systems. Bernstein forecasts revenue of approximately $20.5 billion for 2026, representing 65% year-over-year growth, with an Outperform rating and $520 price target. The stock has gained more than 10x over two years, as major hyperscalers collectively plan $650 billion in data center capital expenditures for 2026. Celestica recently completed a $3 billion equity offering and is expanding manufacturing capacity in Texas.
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