Small-cap public equities tied to the data-center buildout

Arteris, Inc. is adjacent to data-center infrastructure because of semiconductor interconnect IP used in CPUs/AI chips powering data centers.

Syntec Optics Holdings, Inc. is adjacent to data-center infrastructure because of optical components used in fiber/high-speed data transmission systems.

Aeluma, Inc. is adjacent to data-center infrastructure because of photonics/semiconductors relevant to high-speed data center interconnects.

Silvaco Group, Inc. is adjacent to data-center infrastructure because of semiconductor EDA tools used to design chips powering data centers.

Babcock & Wilcox Enterprises, Inc. is adjacent to data-center infrastructure because of industrial energy/thermal systems relevant to power & heat management.

CECO Environmental Corp. is adjacent to data-center infrastructure because of airflow/ventilation systems applicable to data center cooling environments.

Senstar Technologies Ltd. is adjacent to data-center infrastructure because of physical security systems applicable to protecting data centers.

CTS Corporation is adjacent to data-center infrastructure because of sensors/electronic components used in computing and industrial systems.

FuelCell Energy, Inc. is adjacent to data-center infrastructure because of fuel cell power systems relevant for onsite clean energy in data centers.

Thermon Group Holdings, Inc. is adjacent to data-center infrastructure because of industrial heating/thermal management systems relevant to facility temperature control.

Allient Inc. is adjacent to data-center infrastructure because of motion control and power systems used in industrial automation and infrastructure.

Bird Construction Inc. is adjacent to data-center infrastructure because of construction services that can include data center builds and industrial facilities.

Broadwind, Inc. is adjacent to data-center infrastructure because of heavy fabrication (steel towers, energy infrastructure) relevant to power and industrial builds.

Badger Infrastructure Solutions Ltd. is adjacent to data-center infrastructure because of industrial excavation and fluid management; supports infrastructure development.

Ideal Power Inc. is adjacent to data-center infrastructure because of power conversion and semiconductor-based energy management relevant to efficient data centers.

Willdan Group, Inc. is adjacent to data-center infrastructure because of energy efficiency, engineering, and consulting services used in data center design.

Bowman Consulting Group Ltd. is adjacent to data-center infrastructure because of engineering/design firm involved in infrastructure and potentially data center site development.

Tecogen Inc. is adjacent to data-center infrastructure because of onsite power and cooling (CHP systems) relevant to data center energy efficiency.

NET Power Inc. is adjacent to data-center infrastructure because of clean energy power generation technology potentially relevant for high-load data centers.

Fuel Tech, Inc. is adjacent to data-center infrastructure because of engineering services and industrial power optimization used around energy-intensive infrastructure.

Knightscope, Inc. is adjacent to data-center infrastructure because of autonomous security robots potentially applicable to data center security.

Clean Energy Technologies, Inc. is adjacent to data-center infrastructure because of energy efficiency and power generation systems relevant to industrial facilities.

CSP Inc. is adjacent to data-center infrastructure because of iT integration and cybersecurity services supporting enterprise and cloud environments.

Limbach Holdings, Inc. is adjacent to data-center infrastructure because of mechanical systems contractor (HVAC, plumbing) used in data center construction.

Identiv, Inc. is adjacent to data-center infrastructure because of physical security and RFID access control systems used in secure facilities including data centers.

AirJoule Technologies Corporation is adjacent to data-center infrastructure because of energy-efficient cooling/dehumidification tech relevant to data center thermal management.

ADTRAN Holdings, Inc. is adjacent to data-center infrastructure because of networking and telecom equipment used in data center and edge connectivity.

A10 Networks, Inc. is adjacent to data-center infrastructure because of application delivery controllers and cybersecurity appliances used in cloud/data center traffic management.

Applied Optoelectronics, Inc. is adjacent to data-center infrastructure because of optical transceivers used in high-speed data center fiber networks.

MaxLinear, Inc. is adjacent to data-center infrastructure because of high-speed analog and mixed-signal semiconductors used in networking and broadband infrastructure.

Vicor Corporation is adjacent to data-center infrastructure because of high-efficiency power modules used in servers, AI compute, and data center power delivery.

Hammond Power Solutions Inc. is adjacent to data-center infrastructure because of transformers and power systems used in electrical infrastructure including data centers.

Perma-Pipe International Holdings, Inc. is adjacent to data-center infrastructure because of thermal piping systems used in industrial cooling and infrastructure, including data centers.

Duos Technologies Group, Inc. is adjacent to data-center infrastructure because of aI-driven inspection and security systems potentially applicable to infrastructure monitoring.

AXT, Inc. is adjacent to data-center infrastructure because of semiconductor substrates used in high-performance chips for networking and compute.

Aehr Test Systems is adjacent to data-center infrastructure because of semiconductor testing equipment used in production of AI/data center chips.

Optical Cable Corporation is adjacent to data-center infrastructure because of fiber optic cabling used in data center interconnects.

RF Industries, Ltd. is adjacent to data-center infrastructure because of rF and connectivity components used in telecom and data infrastructure.

Bel Fuse Inc. is adjacent to data-center infrastructure because of power, protection, and magnetic components used in servers and networking hardware.

Electrovaya Inc. is adjacent to data-center infrastructure because of lithium-ion battery systems used for backup power and energy storage in facilities.

Lantronix, Inc. is adjacent to data-center infrastructure because of ioT and edge networking solutions used in industrial and data center device management.

Silicom Ltd. is adjacent to data-center infrastructure because of network interface cards and acceleration hardware used in data centers.

Cohu, Inc. is adjacent to data-center infrastructure because of semiconductor test and inspection equipment supporting chip manufacturing.

Ameresco, Inc. is adjacent to data-center infrastructure because of energy efficiency and infrastructure optimization for large facilities including data centers.

Rogers Corporation is adjacent to data-center infrastructure because of advanced materials (thermal/interface materials, substrates) used in electronics and data center hardware.

Standex International Corporation is adjacent to data-center infrastructure because of industrial components (transformers, sensing, thermal products) with limited but real infrastructure overlap.

Methode Electronics, Inc. is adjacent to data-center infrastructure because of electronic connectors, power distribution, and sensing used in servers and industrial systems.

Mattr Corp. is adjacent to data-center infrastructure because of composite materials and infrastructure products used in energy and industrial systems.

Power Solutions International, Inc. is adjacent to data-center infrastructure because of engine-based power generation systems used for backup and distributed energy (data center support role).

Unisys Corporation is adjacent to data-center infrastructure because of iT services and enterprise computing infrastructure used in cloud and data center environments.

California Nanotechnologies Corp. is adjacent to data-center infrastructure because of advanced materials processing and nano-scale manufacturing capabilities that may support high-performance electronics, thermal materials, and industrial component supply chains.

Comstock Holding Companies, Inc. is adjacent to data-center infrastructure because of real estate development and asset management exposure in Northern Virginia infrastructure markets, where data-center site development and power-constrained commercial assets are relevant diligence themes.

Core Molding Technologies, Inc. is adjacent to data-center infrastructure because of structural thermoplastic and thermoset manufacturing used in industrial, utilities, building products, and equipment supply chains that can support facility buildouts.

Tredegar Corporation is adjacent to data-center infrastructure because of aluminum extrusions, structural framing systems, electrical and renewable-energy market exposure, and protective films used around electronics and industrial supply chains.

Arqit Quantum Inc. is adjacent to data-center infrastructure because of quantum encryption/security software relevant to secure data transmission in cloud/data centers.

ESS Tech, Inc. is adjacent to data-center infrastructure because of long-duration energy storage systems relevant for stabilizing large power loads including data centers.

GSI Technology, Inc. is adjacent to data-center infrastructure because of memory and semiconductor solutions used in high-performance computing applications.

POET Technologies Inc. is adjacent to data-center infrastructure because of photonic integrated circuits for high-speed optical interconnects in data centers.

SkyWater Technology, Inc. is adjacent to data-center infrastructure because of semiconductor foundry producing chips relevant to compute and specialized workloads.

ACM Research, Inc. is adjacent to data-center infrastructure because of semiconductor equipment used in chip manufacturing for AI and data center processors.

NetScout Systems, Inc. is adjacent to data-center infrastructure because of network monitoring and cybersecurity tools used in data center traffic management.

Atomera Incorporated is adjacent to data-center infrastructure because of semiconductor materials technology improving chip performance used in data center computing.

Everspin Technologies, Inc. is adjacent to data-center infrastructure because of mRAM memory technology used in enterprise and high-performance computing systems.

Innodata Inc. is adjacent to data-center infrastructure because of data/AI services, annotation, and content engineering used in training AI models and cloud workflows.

Benchmark Electronics, Inc. is adjacent to data-center infrastructure because of electronics manufacturing services producing hardware used in networking, servers, and industrial systems.

American Superconductor Corporation is adjacent to data-center infrastructure because of power systems and grid technologies relevant to large energy loads like data centers.

Shenandoah Telecommunications Company is adjacent to data-center infrastructure because of fiber broadband and telecom infrastructure supporting data center connectivity.

NVE Corporation is adjacent to data-center infrastructure because of spintronics sensors and memory tech used in specialized electronics and computing systems.

ePlus inc. is adjacent to data-center infrastructure because of iT solutions, cloud services, and infrastructure integration for enterprise and data centers.

Veeco Instruments Inc. is adjacent to data-center infrastructure because of semiconductor equipment used in fabrication of advanced chips for AI/data center workloads.

PDF Solutions, Inc. is adjacent to data-center infrastructure because of semiconductor analytics and yield optimization tools used in chip manufacturing.

Pioneer Power Solutions, Inc. is adjacent to data-center infrastructure because of power distribution equipment relevant to industrial and data center energy systems.

Inseego Corp. is adjacent to data-center infrastructure because of 5G and wireless networking equipment used in edge connectivity for cloud/data infrastructure.

Peraso Inc. is adjacent to data-center infrastructure because of mmWave wireless semiconductor tech relevant to high-speed connectivity systems.

CEVA, Inc. is adjacent to data-center infrastructure because of dSP and AI IP cores used in semiconductors powering networking and data center chips.

ATN International, Inc. is adjacent to data-center infrastructure because of telecom infrastructure and fiber networks supporting data transmission and cloud connectivity.

Penguin Solutions, Inc. is adjacent to data-center infrastructure because of high-performance computing, memory, and infrastructure solutions for AI/data centers.

Data Storage Corporation is adjacent to data-center infrastructure because of provides managed IT, cloud, and data storage services directly tied to data center infrastructure.

Soluna Holdings, Inc. is adjacent to data-center infrastructure because of develops renewable-powered high-performance computing/data center infrastructure (notably for crypto/AI workloads).

Backblaze, Inc. is adjacent to data-center infrastructure because of operates large-scale cloud storage and backup infrastructure (data center–based storage provider).

One Stop Systems, Inc. is adjacent to data-center infrastructure because of high-performance computing, edge computing, and AI server hardware.

TSS, Inc. is adjacent to data-center infrastructure because of provides semiconductor services, IT infrastructure, and data center support operations.

Jet.AI Inc. has indirect or weak data-center relevance: AI aviation/software; relies on cloud compute but not DC infrastructure.

Solaris Energy Infrastructure, Inc. has indirect or weak data-center relevance: Energy infrastructure; indirect exposure via power supply to industrial loads.

Matrix Service Company has indirect or weak data-center relevance: Industrial construction; may support builds but not DC-focused tech.

Lightbridge Corporation has indirect or weak data-center relevance: Nuclear fuel tech; indirect relevance via long-term energy supply.

Mayville Engineering Company, Inc. has indirect or weak data-center relevance: Contract metal fabrication; potential industrial builds but not data center specific.

Orion Group Holdings, Inc. has indirect or weak data-center relevance: Marine and construction services; minimal data center relevance.

Climb Global Solutions, Inc. has indirect or weak data-center relevance: IT software distribution; relies on cloud infrastructure but does not build it.

Digi Power X Inc. is adjacent to data-center infrastructure because of operates compute-heavy digital infrastructure / mining-style data centers.

TPI Composites, Inc. is adjacent to data-center infrastructure because of wind blade manufacturing supports renewable energy powering data centers.

Capstone Green Energy Holdings is adjacent to data-center infrastructure because of distributed power/microturbines relevant for backup energy in data centers.

Webco Industries, Inc. is adjacent to data-center infrastructure because of steel tubing, structural products, and industrial components used in energy, cooling, and infrastructure buildouts.

NN, Inc. is adjacent to data-center infrastructure because of precision components used in industrial and electromechanical systems.

Hammond Manufacturing Company Limited is adjacent to data-center infrastructure because of enclosures, racks, and electrical infrastructure used in data centers.

Hammond Manufacturing Company Limited is adjacent to data-center infrastructure because of enclosures, racks, and electrical infrastructure used in data centers.

Tutor Perini Corporation is adjacent to data-center infrastructure because of large construction contractor that may build data centers and industrial facilities.

Tetra Tech, Inc. is adjacent to data-center infrastructure because of engineering, water, energy, and environmental consulting used in large infrastructure projects including data centers.

Bird Construction Inc. is adjacent to data-center infrastructure because of construction services that can include data center builds and industrial facilities.

Westell Technologies, Inc. is adjacent to data-center infrastructure because of telecom and network infrastructure equipment used in connectivity systems.

Mistras Group, Inc. is adjacent to data-center infrastructure because of technology-enabled energy services and industrial asset integrity work used around critical infrastructure.

RCM Technologies, Inc. has indirect or weak data-center relevance: Engineering and staffing services; limited direct data center infrastructure exposure.

CDTi Advanced Materials, Inc. is adjacent to data-center infrastructure because of energy storage and emissions-control materials tied to industrial energy systems.

Cardinal Infrastructure Group Inc. is adjacent to data-center infrastructure because of infrastructure development and construction exposure relevant to buildout supply chains.

Rouchon Industries, Inc. is adjacent to data-center infrastructure because of industrial products and thermal management exposure highlighted for data-center cooling supply chains.

Moro Corporation is adjacent to data-center infrastructure because of construction, HVAC, steel, concrete, and structural products used in facility buildouts.

Smith-Midland Corporation is adjacent to data-center infrastructure because of precast concrete and building products used in infrastructure and construction projects.

Vertical Data Inc is directly data-center relevant: Data Center Financing, Global Edge Data Center Services.

NV5 Global, Inc. is adjacent to data-center infrastructure because of engineering and geospatial services used in infrastructure and facility development.

Heliogen, Inc. is adjacent to data-center infrastructure because of solar thermal energy systems potentially applicable to large-scale energy demand.

WideOpenWest, Inc. is adjacent to data-center infrastructure because of broadband and fiber network provider supporting data center connectivity and edge networks.

Emeren Group, Ltd. is adjacent to data-center infrastructure because of solar energy developer supporting renewable power supply for energy-intensive data centers.

Gulf Island Fabrication, Inc. has indirect or weak data-center relevance: Industrial fabrication (oil & gas/offshore structures); limited DC relevance.