5 Fastest-Growing Data Center Cooling Stocks to Invest in Right Now

2. AAON, Inc. (NASDAQ:AAON)

AAON, Inc. (NASDAQ:AAON) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s strongest recent angle came on May 7, 2026, when AAON raised its 2026 revenue growth outlook to 40%-45%, supported by a record backlog, expanded capacity, and improving production execution. The update showed that data center cooling demand is no longer just a product opportunity for AAON, but a major driver of backlog conversion and capacity utilization.

The clearest signal came from BASX, AAON’s advanced cooling and custom solutions brand. BASX-branded sales rose 72.4% year over year to $228.6 million in the first quarter, reflecting continued strength in data center cooling demand, higher production volumes, and increased use of recently commissioned capacity. AAON also said total backlog rose 107.4% year over year to $2.13 billion, with sequential backlog growth driven entirely by BASX. Within AAON Coil Products, growth was led by BASX-branded liquid cooling sales of $93.2 million, up 40.5% year over year, while improved throughput at the Longview facility helped support operating leverage.

AAON, Inc. (NASDAQ:AAON) designs and manufactures commercial, industrial, and data center HVAC and thermal management solutions under the AAON and BASX brands.