Flex (FLEX) Is Up 5.7% After New NVIDIA-Aligned 800 VDC AI Power Rack Launch - Has The Bull Case Changed?

• In March 2026, Flex announced new reference designs for NVIDIA’s Omniverse DSX Blueprint and an 800 VDC Power Rack to accelerate giga-scale AI factory and data center deployments, combining prefabricated power, high-density IT racks and advanced liquid cooling into modular, factory-integrated systems.
• A key insight is that Flex’s disaggregated 800 VDC architecture, developed with NVIDIA, is aimed at enabling existing data centers to support much higher power-density AI racks without extensive retrofits, potentially deepening its role in next-generation AI infrastructure buildouts.
• Next, we will examine how Flex’s 800 VDC Power Rack collaboration with NVIDIA could influence the company’s existing AI-focused investment narrative.

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Flex Investment Narrative Recap

To own Flex, you need to believe it can turn its AI-focused power and cooling expertise into durable relationships with hyperscalers while steadily improving thin margins. The new 800 VDC Power Rack and Omniverse DSX reference designs reinforce Flex’s AI infrastructure positioning, but do not remove near term risks around customer concentration and the possibility that large cloud customers could still insource critical power and cooling solutions.

The 800 VDC Power Rack collaboration with NVIDIA looks most relevant here, because it directly targets high power density AI racks that traditional in-rack power cannot support. By offering disaggregated power, optional backup units, and in-region manufacturing, this product sits squarely at the intersection of Flex’s key AI catalyst and its biggest risk: remaining an essential partner to hyperscalers rather than seeing those customers shift production elsewhere.

But while this AI progress is encouraging, investors should also be aware that ...

Read the full narrative on Flex (it's free!)

Flex's narrative projects $29.1 billion revenue and $1.3 billion earnings by 2028. This requires 3.7% yearly revenue growth and about a $0.4 billion earnings increase from $891.0 million today.

Uncover how Flex's forecasts yield a $76.12 fair value, a 10% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts already expected Flex to reach about US$29.7 billion in revenue and US$1.4 billion in earnings by 2028, so you should expect very different opinions on whether this new NVIDIA aligned AI push strengthens that bullish case or heightens concerns about relying so heavily on a small group of hyperscaler customers.

Explore 5 other fair value estimates on Flex - why the stock might be worth 8% less than the current price!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Flex research is our analysis highlighting 1 key reward and 1 important warning sign that could impact your investment decision.
• Our free Flex research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Flex's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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