What products does Jabil make for AI data centers?

Jabil manufactures data center infrastructure including server racks, power management solutions, and liquid-cooling systems, as well as advanced semiconductor test equipment, wafer fabrication equipment, and wired and optical networking equipment.

How much of Jabil's revenue comes from AI?

AI-related revenue is expected to reach $13.6 billion（約2.2兆円） in fiscal 2026, and AI will account for 39% of Jabil's top line in fiscal 2026, up from 30% in fiscal 2025.

What valuation multiples does Jabil currently trade at compared to the broader tech market?

Jabil has a price-to-sales ratio of 1.2, well below the tech-focused Nasdaq Composite index's sales multiple of 5.3.

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Jabil, a contract manufacturer supplying AI data centers and semiconductors, is raising its full-year revenue forecast to $35 billion（約5.6兆円） and earnings guidance 30% higher than the prior year, suggesting it could trade at a much richer valuation despite currently being priced far below tech peers.

Yahoo Finance AI1d ago5 min read

Key takeaway

Jabil, a contract electronics manufacturer serving the AI infrastructure boom, raised its full-year revenue forecast to $35 billion（約5.6兆円） and earnings guidance 30% higher than the prior year, driven by surging demand for data center equipment, semiconductors, and optical networking gear. The company is trading at a significant valuation discount to the broader tech sector despite strong double-digit revenue growth expected in coming years, suggesting potential upside if the market revalues it in line with its accelerating AI-driven growth.

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3 Key Points

What happened
Jabil released its fiscal 2026 third-quarter results on June 17, showing revenue up 12% year over year to $8.8 billion（約1.4兆円） and non-GAAP earnings per share up 24% to $3.16. The company raised its full-year fiscal 2026 revenue forecast to $35 billion（約5.6兆円） (17.4% growth) and non-GAAP earnings per share guidance to $12.70 (30% increase over fiscal 2025). AI-related revenue is now expected to reach $13.6 billion（約2.2兆円） in fiscal 2026, up 51% from the previous year, after the company had originally projected only 25% growth.
Why it matters
Jabil manufactures critical AI infrastructure—data center server racks, power management, liquid-cooling systems, semiconductor test equipment, and optical networking gear—for major cloud providers. The company has won a third hyperscaler customer and has been gaining additional business from initial deals, indicating sustained demand. AI is forecast to account for 39% of Jabil's revenue in fiscal 2026 versus 30% in fiscal 2025, suggesting AI will increasingly drive the company's growth trajectory.
What to watch
Jabil trades at a price-to-sales ratio of 1.2, well below the Nasdaq Composite's 5.3 multiple. If the company trades at a conservative 3× sales by fiscal 2028 based on Wall Street's revenue estimates, its market cap could reach $143 billion（約23兆円）, representing 3.5× its current market cap.

FAQ

What products does Jabil make for AI data centers?: Jabil manufactures data center infrastructure including server racks, power management solutions, and liquid-cooling systems, as well as advanced semiconductor test equipment, wafer fabrication equipment, and wired and optical networking equipment.
How much of Jabil's revenue comes from AI?: AI-related revenue is expected to reach $13.6 billion（約2.2兆円） in fiscal 2026, and AI will account for 39% of Jabil's top line in fiscal 2026, up from 30% in fiscal 2025.
What valuation multiples does Jabil currently trade at compared to the broader tech market?: Jabil has a price-to-sales ratio of 1.2, well below the tech-focused Nasdaq Composite index's sales multiple of 5.3.

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