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Celestica $CLS: The Hidden Layer of AI

Why Celestica is becoming critical to hyperscale infrastructure

Author

George Babis
May 06, 2026

Research Type:

Risk Level:

Ideal Allocation: 

FY2026 Price Target: 

AI infrastructure spending continues accelerating, and much of the attention has gone toward the obvious winners — GPU manufacturers, hyperscalers, and semiconductor companies. But underneath that layer sits another group of businesses quietly enabling the physical infrastructure required to scale modern AI systems. Celestica $CLS ( ▼ 3.05% ) is increasingly becoming one of them.

The company has transformed itself from a traditional electronics manufacturing services provider into a critical supplier of networking and compute infrastructure for hyperscale AI deployments. That shift is beginning to reshape the entire financial profile of the business.

$CLS ( â–Ľ 3.05% ) 1-year stock performance

The market has noticed. Shares have significantly outperformed over the past year as investors recognized Celestica’s growing role in the AI supply chain. But despite the rally, the underlying story continues to strengthen. Revenue growth is accelerating, margins are expanding, hyperscaler demand remains elevated, and the company’s partnership with AMD $AMD ( ▲ 14.91% ) may position Celestica even deeper inside the next generation of AI infrastructure. Here’s what you need to know.

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