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Vertiv Holdings’ $14.7 Billion AI Infrastructure Ambition: Can NVIDIA Fuel Its Next Growth Wave?

Vertiv Holdings Co. reported a third-quarter 2026 performance marked by strong top-line growth, margin expansion, and solid cash flow generation. Net sales increased 61% year-over-year to approximately $4.3 billion, driven by a 55% organic growth and 6% from acquisitions. Growth was broad-based across all regions, with the Americas leading at 75% growth, APAC rising 50%, and EMEA improving 23%. Adjusted operating profit saw an 83% increase to over $1 billion, resulting in a 25.2% operating margin, up 290 basis points year-over-year and above guidance. Adjusted diluted earnings per share reached $2.21, up 78%, and adjusted free cash flow improved 50% to $652 million. The company ended the quarter with a net cash position and negative leverage of 0.2x. Vertiv upgraded its full-year outlook, expecting net sales of $14.7 billion (43% growth), adjusted operating profit of roughly $3.5 billion (68% growth), a 24% operating margin, and free cash flow of $2.