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Barchart
Barchart
Aditya Raghunath

UNBELIEVABLE: Up 33 ytd is this ai data center stock overheated - The Untold Story

Trane Technologies TT

Over the last 15 months, stocks in the artificial intelligence (AI) space have gained significant traction, as investors and analysts have grown extremely bullish on this megatrend. According to a Statista report, the AI market is expected to widen to $827 billion by 2030, up from $136 billion in 2023, indicating a compounded annual growth rate of almost 30%. A rapidly expanding addressable market should allow the leaders in the AI race to grow sales and earnings at an enviable pace going forward. 

One AI-related tech stock that has surged 33% since the start of 2024 is Trane Technologies (TT). Valued at $72.27 billion by market cap, Trane Technologies stock has returned 83% in the last 12 months and is up over 400% since May 2014. 

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