10 Best Grid Modernization Stocks to Buy for AI Infrastructure

8. MasTec, Inc. (NYSE:MTZ)

Short Percentage of Float: 4.97%

MasTec, Inc. (NYSE:MTZ) is one of the best grid modernization stocks to buy for AI infrastructure.

On April 30, MasTec, Inc. (NYSE:MTZ) reported first-quarter results that showed how much infrastructure demand is building across power delivery, clean energy, and data-center-adjacent construction. Revenue rose 34% year-over-year to $3.8 billion, while 18-month backlog increased 28% to a record $20.3 billion. The company also raised its full-year 2026 outlook, now expecting revenue of $17.5 billion and adjusted EBITDA of $1.5 billion.

The grid-modernization angle is clearest in Power Delivery. MasTec said Power Delivery revenue rose 16% to $1.05 billion in the quarter, while EBITDA increased 40% to $72 million. On the company’s earnings call, management said Power Delivery benefited from transmission, system-hardening, and reliability spending, while AI and data centers are adding to electricity demand and could require major grid expansion. The segment also posted a 1.6x book-to-bill ratio, with backlog reaching a record $6.2 billion after new contracts and expanded work on existing projects.

MasTec, Inc. (NYSE:MTZ) provides infrastructure construction and engineering services for power delivery, clean energy, communications, pipeline, industrial, and civil infrastructure markets, including transmission, distribution, substations, renewable energy, data center, and utility-related projects.