Key Takeaways VRT's organic orders rose 60% year over year, with a solid 1.4x book-to-bill ratio in Q3 2025. Backlog climbed 30% from 2024-end to $9.5B, supported by AI and data center expansion. Rising competition from SMCI and HPE poses a challenge to VRT's AI infrastructure momentum. Vertiv (VRT) is benefiting from strong order growth and a robust pipeline, reinforcing its position as a leader in the data center and AI infrastructure market. In the third quarter of 2025, Organic orders (excluding foreign ...