AI Boom Fuels Sterling Infrastructure’s Jump to a Record

Shares of Sterling Infrastructure Inc. hit an all-time high Tuesday following an earnings blowout that was fueled by the race to buildout artificial intelligence infrastructure. Other construction and engineering firms also soared.

Houston-based Sterling had its best one-day gain since 1998 with the stock climbing 52% to close at a record $806. The civil engineering company’s boosted profit and revenue guidance for the full year far exceeded Wall Street expectations.