Argan Inc. is emerging as a primary beneficiary of the artificial intelligence infrastructure expansion. The company specializes in the engineering and construction of power plants to meet surging energy needs.
Natural gas projects accounted for 79% of Argan’s backlog at the end of the last reported quarter. [5]
Tech giants are increasing capital expenditures to build out the power grid for AI data centers. Argan’s subsidiaries, Gemma Power Systems and Atlantic Projects Company, are directly constructing these facilities. [5, 11]
The company builds both natural gas and renewable energy facilities to support expanding AI energy requirements. [5]