AI Data Center Beneficiaries: 1.9 Trillion Won Vanishes in a Day After Short Rally

nVent Electric plc (NYSE: NVT) saw its shares slide more than 5% on the New York Stock Exchange, closing at $163 and erasing roughly $13.74 million in market capitalization—about KRW 1.9 trillion—in a single day. Trading volume reached approximately 1.27 million shares, well above its typical levels as heavy sell orders hit the market.

Just days ago, the stock had embarked on a sharp rally after reporting first-quarter revenue that jumped over 50% year-on-year and far exceeded market expectations—driven by rising demand from AI data centers. Most recently, investment banks have maintained positive outlooks, with Evercore ISI raising its price target to $190 on the back of strong growth forecasts. Today’s pullback has investors wondering whether it simply reflects a short-term cooldown following an overheated run.

nVent Electric supplies electrical connection and protection solutions for power and data infrastructure, primarily across the United States and Europe. With a significant portion of its revenue generated from data centers and power utilities, the company is widely regarded as a “power-infrastructure and AI beneficiary” stock. Founded as an independent, publicly traded company in 2018 through the spinoff of Pentair’s Electrical segment, nVent has swiftly expanded its exposure to high-growth infrastructure markets via an aggressive portfolio transformation strategy.