News
Infrastructure firms Primoris and Centuri report surge in data center and grid modernization backlogs
Thursday, February 26, 2026 at 11:31 AM
Major infrastructure firms Primoris, Centuri, and Everus report record backlogs driven by AI and data center construction. Centuri has identified a $2 billion pipeline for data center prospects, while Primoris has secured $850 million for 2025. Projects focus on power infrastructure, including substation upgrades, transmission lines, and battery storage systems (BESS) to meet rising load demands from data centers and onshoring.
Context
Infrastructure providers Primoris Services (PRIM), Centuri (CTRI), and Everus (ECG) reported record year-end backlogs, signaling a massive scale-up in AI data center and grid modernization. Primoris reached a $11.9 billion backlog, while Centuri saw its backlog surge 59% to $5.9 billion. These figures highlight a critical shift in the AI supply chain, as data centers have become the primary market for firms providing essential electrical substations, transmission lines, and high-capacity cooling systems.
This growth is fueled by projections that power demand could rise 50% over the next decade. To support this, Primoris is bidding on up to $2 billion in gas generation awards in early 2026, while its battery storage business is expected to double in size. The physical infrastructure bottleneck is further evidenced by aggressive hiring, with Primoris increasing its workforce by 22% in 2025 to manage a multi-billion dollar project pipeline through 2026.
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Primoris Services
PRIM
Centuri
CTRI
Everus
ECG