Amphenol AI Datacom Hits 43% of Q2 2026 Sales, Run Rate $10.5-$11B

Amphenol's position in the AI infrastructure supply chain has deepened considerably, according to the article. The company's IT datacom segment now accounts for 43% of total sales, with revenue up 89% year over year in Q2 2026 and 63% organically. Management attributes virtually all of the 22% sequential growth in that segment to AI-related products, as customers building larger AI clusters require more copper, optics and power interconnect solutions.

The CommScope acquisition appears to have strengthened Amphenol's optical capabilities meaningfully. CommScope contributed more than $1.2 billion in Q2 2026 sales, and its IT datacom business nearly doubled year over year. Management expects IT datacom to account for just under half of CommScope's 2026 sales, up from roughly one-third in 2025. Amphenol is also participating in customer discussions about introducing optics into scale-up architectures, which could expand its addressable market if those designs move forward.

The competitive picture is far from settled. TE Connectivity's Digital Data Networks sales grew 34% year over year in Q3 fiscal 2026 with bookings up more than 70% year to date, while Marvell's data-center revenues rose 46% year over year to $2.17 billion. Amphenol's premium valuation, at a forward P/E of 25.32X versus the sector's 20.38X, suggests the market is pricing in continued AI-driven growth. Whether that holds may hinge on how AI cluster architectures evolve and whether Amphenol's broad portfolio spanning copper, fiber and power connectivity proves decisive against these competitors.