Outside of data centers, much of the U.S. economy is already under strain. Manufacturing has been contracting for months, housing remains constrained by high mortgage rates, small businesses are freezing hiring, and consumers are pulling back on large purchases. AI capex has helped mask that softness by propping up investment and headline GDP.
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If data-center construction slows or slips further into the future, that support fades. Without AI infrastructure contributing in real time, the economy risks revealing the contraction many households and businesses are already feeling — rather than the resilience suggested by aggregate data.
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In that sense, Oracle’s delay is not just a company update — it’s a macro warning.
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Who Gets Hit First if AI Capex Slows

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• Power, cooling, and electrical infrastructure suppliers
  Vertiv (VRT), Eaton (ETN) — revenues are closely linked to data-center construction schedules. Delays typically push revenue recognition out, weighing on near-term earnings even if long-term demand remains intact.
• Data-center rack, enclosure, and hardware integrators
  nVent (NVT), Amphenol (APH), CommScope (COMM) — installations depend on site readiness; timeline slippage directly slows shipments and project milestones.
• Electrical equipment, switchgear, and grid components
  GE Vernova (GEV), Hubbell (HUBB) — transformer and distribution demand softens when large builds pause, despite multi-year backlog visibility.
• Construction, engineering, and installation firms
  Fluor (FLR), Jacobs Solutions (J), AECOM (ACM) — labor-intensive phases are easiest to defer, leaving these firms exposed when projects stretch.
• Optical, networking, and late-cycle deployment hardware
  Ciena (CIEN), Lumentum (LITE), Arista Networks (ANET) — equipment is often installed late in the build cycle, making orders vulnerable to completion delays.
• Highly leveraged AI-adjacent operators
  Core Scientific (CORZ), DigitalBridge (DBRG) — companies funding expansion with debt face rising interest expense just as execution timelines extend.