Eaton reported nearly $27.4 billion in revenue for fiscal year 2025, a 10.3% year-over-year increase, with net income of approximately $4.1 billion. nVent Electric reached approximately $3.9 billion in revenue, representing 30% year-over-year growth, and a record backlog of $2.6 billion. Both power management companies are directly benefiting from the massive buildout of AI data centers. Crypto miners such as Iris Energy and Core Scientific are converting their facilities to host AI workloads, as revenue per megawatt from AI hosting can exceed Bitcoin mining returns. nVent forecasts FY 2026 revenue of approximately $4.98 billion, a 27.9% year-over-year increase.
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