Jim Mintern

CRH is currently active on over 100 data center projects in the US. Construction accounts for ~50% of the total cost of a data center, and CRH provides the essential concrete/aggregates first. While software AI stocks face valuation questions, the physical build-out is non-negotiable. You cannot have AI without the concrete shell. CRH has visibility into 2026/2027 backlogs, making it a tangible beneficiary of the "AI Capex" spend regardless of software adoption rates. LONG CRH and materials suppliers to Data Centers. Federal funding delays or a sudden halt in hyperscaler capex.

CRH is currently active on over 100 data center projects in the US. Construction accounts for ~50% of the total cost of a data center, and CRH provides the essential concrete/aggregates first. While software AI stocks face valuation questions, the physical build-out is non-negotiable. You cannot have AI without the concrete shell. CRH has visibility into 2026/2027 backlogs, making it a tangible beneficiary of the "AI Capex" spend regardless of software adoption rates. LONG CRH and materials suppliers to Data Centers. Federal funding delays or a sudden halt in hyperscaler capex.