[UPDATE] Data-center-levered power names pressured on the slowdown scare even as backlogs hold
Neoclouds and companies geared to relentless data-center construction came under pressure in the Sept 14 selloff as investors reassessed future AI infrastructure spend. The structural demand signal is intact underneath: Quanta Services carries a record $48.5B backlog with 2026 revenue guided to ~$33.5B, and US utilities plan 24GW of new battery storage in 2026 as interconnection waits stretch. Recent coverage reframes the binding constraint as time-to-power at specific grid nodes rather than generation or equipment availability.