Carrier Global Gains Favor as AI Data Center Cooling Demand Rises

According to CNBC, Carrier Global is drawing renewed interest as demand for air conditioning and AI data center cooling increases, with the company’s data center orders rising more than 300% last quarter. The Florida-based heating and cooling company generated $21.7 billion in sales last year, with nearly 30% coming from parts and services, and it expects about $2 billion in free cash flow this year. Carrier said residential HVAC sales in the Americas rose 9% in the second quarter, while the stock trades at 18.4 times forward earnings and about a 5% free cash flow yield.