Amphenol AI revenue hits roughly $10.5-$11 billion

Amphenol's latest quarter shows how quickly AI infrastructure has moved from a side business to a central one. In Q2 2026, IT datacom made up 43% of total sales and grew 89% year over year, while management put the AI revenue run rate at roughly $10.5-$11 billion. The company's portfolio spans high-speed copper, fiber-optic and power interconnect solutions, and management said virtually all of the 22% sequential IT datacom growth came from AI-related products.

The CommScope acquisition is part of that build-out. CommScope contributed more than $1.2 billion in sales in the quarter, and management expects its IT datacom business to account for just under half of CommScope's 2026 sales, up from roughly one-third in 2025. Amphenol is also positioning itself across graphics processing unit, application-specific integrated circuit and XPU architectures, noting that inference requires an unprecedented level of interconnect intensity.

Competition is the open question. 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, while Marvell's data-center revenues rose 46% year over year to $2.17 billion. Amphenol's premium forward price/earnings of 25.32X versus the broader sector's 20.38X suggests investors are already pricing in continued AI momentum. Whether that multiple holds is likely to hinge on whether Amphenol keeps converting AI demand into sales growth at this pace, and on how much share it can defend against TE Connectivity and Marvell.