Amphenol IT datacom hits 43% of sales, AI run rate $10.5-$11 billion

Amphenol's second-quarter 2026 results show the company leaning heavily on AI-driven demand. IT datacom reached 43% of total sales, with revenue up 89% year over year, and management noted that virtually all of the 22% sequential IT datacom growth came from AI-related products. The AI revenue run rate has reached roughly $10.5-$11 billion, growing faster than the overall IT datacom business.

The acquisition of CommScope is adding optical muscle. In Q2 2026, CommScope contributed more than $1.2 billion in sales, and management said its IT datacom business nearly doubled year over year. They expect the market to account for just under half of CommScope's 2026 sales, compared with roughly one-third in 2025, and noted CommScope is participating in customer discussions around introducing optics into scale-up architectures.

Still, competition is formidable. TE Connectivity's Digital Data Networks sales rose 34% year over year in its fiscal 2026 third quarter, with bookings up more than 70% year to date. Marvell Technology's data-center revenues grew 46% year over year to $2.17 billion. Amphenol's premium valuation—25.32X forward earnings against the sector's 20.38X, and a Value Score of D—suggests investors are already pricing in continued AI momentum, making the coming quarters a test of whether its AI datacom strength can outpace these rivals.