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MasTec, Inc. (NYSE:MTZ) is one of the best grid modernization stocks to buy for AI infrastructure.

On April 30, MasTec, Inc. (NYSE:MTZ) reported first-quarter results that showed how much infrastructure demand is building across power delivery, clean energy, and data-center-adjacent construction. Revenue rose 34% year-over-year to $3.8 billion, while 18-month backlog increased 28% to a record $20.3 billion. The company also raised its full-year 2026 outlook, now expecting revenue of $17.5 billion and adjusted EBITDA of $1.5 billion.

The grid-modernization angle is clearest in Power Delivery. MasTec said Power Delivery revenue rose 16% to $1.05 billion in the quarter, while EBITDA increased 40% to $72 million. On the company’s earnings call, management said Power Delivery benefited from transmission, system-hardening, and reliability spending, while AI and data centers are adding to electricity demand and could require major grid expansion. The segment also posted a 1.6x book-to-bill ratio, with backlog reaching a record $6.2 billion after new contracts and expanded work on existing projects.

Photo by ThisisEngineering RAEng on Unsplash

MasTec, Inc. (NYSE:MTZ) provides infrastructure construction and engineering services for power delivery, clean energy, communications, pipeline, industrial, and civil infrastructure markets, including transmission, distribution, substations, renewable energy, data center, and utility-related projects.

While we acknowledge the potential of MTZ 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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