Vertiv Holdings Co reported a sharp increase in its order backlog, nearly doubling from $7.2 billion to $15.0 billion, driven by strong demand for critical digital infrastructure supporting data centers, especially AI deployments. The company’s diversified portfolio of power, thermal management, and integrated solutions positions it well in an expanding market, yet it faces risks from long sales cycles, order variability, and customer pricing pressure. Operational results hinge on execution amidst supply chain constraints, cyclical order patterns, and contractual risks in fixed-price agreements.