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Itron, Inc. (NASDAQ:ITRI) is one of the best grid modernization stocks to buy for AI infrastructure.

On April 28, Itron, Inc. (NASDAQ:ITRI) said its first-quarter results came in ahead of expectations, helped by strong execution and some projects running ahead of schedule. The company reported $587 million in revenue, adjusted EBITDA of $92 million, and total backlog of $4.4 billion at quarter-end. More importantly for this list, Itron said utility customers are prioritizing resiliency and affordability, calling the multi-year trend to add intelligence to the grid “structural.” Its Outcomes revenue rose 22% year-over-year, while its newer Resiliency Solutions segment contributed $16 million after the addition of Urbint and Locusview.

That puts Itron in the software and grid-edge layer of AI infrastructure rather than the heavy-equipment layer. As utilities face higher loads from data centers, electrification, and distributed energy resources, they need better forecasting, real-time visibility, demand response, and construction management tools. Itron’s January 29 grid-edge update also said its portfolio had shipped more than 16 million distributed-intelligence-enabled meters, managed more than 100 million endpoints, and dispatched more than 70 GWh of flexible customer load and generation in 2025.

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Itron, Inc. (NASDAQ:ITRI) provides intelligent infrastructure products and services for utilities and cities, including smart meters, communications networks, grid-edge intelligence, analytics software, distributed energy resource management, demand response, and related energy and water management solutions.

While we acknowledge the potential of ITRI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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