Key facts
- Companies supplying data center infrastructure and services are profiting from increased demand.
- The surge in data center development has created a lucrative market for these businesses.
- Caterpillar and Hochtief are 'picks and shovels' companies boosted by the data center boom.
Companies that provide the essential infrastructure and services for data centers, often described as 'picks and shovels' providers, are currently experiencing substantial financial benefits. The rapid expansion and development of data centers have created a highly profitable market for businesses supplying the fundamental components and support systems necessary for their construction and ongoing operation. Caterpillar and Hochtief are examples of these companies, which have seen their business increase due to this trend.