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Founded in 1919, Cummins (NYSE: CMI) was focused on a breakthrough technology at the time: diesel engines. Cummins still serves the automotive industry today, but it's found a new revenue opportunity in data centers thanks to artificial intelligence (AI).
In part due to that growing revenue source that has fueled more investor interest, Cummins shares have climbed some 42% in value over the past 12 months. In comparison, the S&P 500 is up a bit of over 18% in the same period. While AI power demand shows no signs of slowing, there's still more to consider about Cummins as a potential investment.
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Cummings offers a variety of power solutions, ranging from truck engines and vehicle components to generators and power systems. It's the generators and power systems that have investors excited about this stock, as energy demands from power-hungry data centers show no signs of slowing down.