Key Points
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Eaton Corporation, a leader in electrical power distribution, announced a partnership with Trane on August 17, 2023, to develop AI data center solutions based on Nvidia’s design.
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Vertiv reported Q2 2023 revenue of $3.27 billion, a 24% increase year-over-year, with EPS up 53% to $1.27.
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Cummins reported Q2 2023 revenue of $9.5 billion, a 9.4% year-over-year increase, and EPS of $6.73, up 4.6%.
Eaton’s Q2 2023 sales rose 21% year-over-year to $8.53 billion, with a 43% increase in its electrical sector order backlog and a projected full-year organic revenue growth of 11% to 13%. Meanwhile, Vertiv’s stock has surged over 60% this year amid rising demand for cooling solutions for AI technologies. Cummins continues to solidify its market presence, expecting a full-year revenue increase of 10% to 13%.
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