Solaris Energy Infrastructure, Inc. (SEI): A Bull Case Theory 

We came across a bullish thesis on Solaris Energy Infrastructure, Inc. on Make Money, Make Time’s Substack by Oliver | MMMT Wealth. In this article, we will summarize the bulls’ thesis on SEI. Solaris Energy Infrastructure, Inc.’s share was trading at $54.90 as of October 15th. SEI’s trailing and forward P/E was 76.97 according to Yahoo Finance.

SEI is a specialized provider of mobile and scalable solutions for distributed power generation, logistics, and fluid management, differentiating itself from traditional utilities by focusing on equipment, services, and logistics rather than large-scale generation. Its Power as a Service (PaaS) offering provides rapid, portable generation, while its logistics solutions cover last-mile delivery, proppant management, and fluid handling systems.

Key clients include data centers, industrial facilities, oil & gas operations, and microgrids, with data centers particularly reliant on SEI’s solutions to achieve near-perfect uptime. The company’s PaaS model is critical as hyperscale operators require 99.999% reliability, far exceeding traditional grid standards, effectively positioning SEI as an insurance layer against costly outages. In Q2, SEI reported revenue of $149 million, up 102% YoY and 18% sequentially, with EPS of $0.34, representing a 161.5% increase versus Q2 2024, driven primarily by strong growth in the PaaS segment.

Looking ahead, SEI targets 1,400 MW of operated capacity by 2027, with a 900 MW joint venture with xAI underscoring its focus on the rapidly expanding data center market, which analysts expect to double in demand over five years due to AI-driven growth. Valuation metrics appear compelling, with the stock trading at roughly 3.3x NTM sales and 7.6x NTM EBITDA, while analysts project 78% revenue growth in FY25 and 122% EBITDA growth. Given its robust growth trajectory, critical market positioning, and attractive multiples relative to peers like OKLO, SEI presents a high-conviction opportunity with strong upside potential and limited near-term downside risk.

Previously we covered a bullish thesis on Solaris Energy Infrastructure, Inc. (SEI) by LiterallyAzzmilk in March 2025, which highlighted its strong financials, strategic acquisitions, and growth in distributed power and logistics. The stock has appreciated approximately 124% since coverage as the thesis played out. Oliver | MMMT Wealth shares a similar perspective but emphasizes PaaS solutions, hyperscaler uptime, and aggressive capacity and revenue growth projections.

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Disclosure: None.