Solaris Energy Infrastructure, (SEI) Stock Price & How to Invest
Short answer
SEI is Solaris Energy Infrastructure, a Houston-based provider of mobile, scalable power generation for data centers plus oilfield logistics equipment, and it trades as a fast-growing AI-power infrastructure play carrying a rich valuation and heavy reliance on a small set of large technology customers. Anyone weighing SEI is really deciding whether its multi-gigawatt power contract backlog justifies a stock priced well above trailing earnings.
SEI stock price
As of 2026-07-08, Solaris Energy Infrastructure, (SEI) last closed at $66.27, up 113.3% over the past year. Over the past 52 weeks it has traded between $24.92 and $82.88.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Solaris Energy Infrastructure, 's investor relations page. Walnut is informational, not investment advice.
What does Solaris Energy Infrastructure, (SEI) do?
Solaris Energy Infrastructure (NYSE:SEI), formerly Solaris Oilfield Infrastructure (ticker SOI until September 2024), operates two segments. Solaris Power Solutions leases mobile natural-gas turbine power generation, control, and distribution equipment to data centers, energy operators, and industrial customers, while Solaris Logistics Solutions provides sand-handling and material-management systems used to complete oil and gas wells. The company has pivoted hard toward distributed power as demand from AI and data center buildouts has surged, expanding its power fleet and signing multiple long-term contracts with large technology firms, including one investment-grade customer for more than 600 MW under a 10-year term.
The investment picture is a high-growth, high-multiple one. Revenue nearly doubled in 2025 to roughly $622 million and Q1 2026 revenue of about $196 million rose around 55 percent year over year, with power capacity expanding past 3.1 gigawatts and management guiding to further Adjusted EBITDA growth. The market has rewarded this with a valuation well above trailing earnings, so the stock behaves like an AI-infrastructure growth name rather than a traditional oilfield-services company. The offsetting concerns are a rich multiple, a balance sheet that took on roughly $1.3 billion of senior notes to fund fleet expansion, and meaningful concentration in a handful of anchor power customers.
What's driving Solaris Energy Infrastructure, (SEI)?
1. AI and data center power demand
SEI's power solutions segment is riding surging electricity demand from AI training and data center buildouts, where behind-the-meter and bridge power is scarce. The company has signed multiple long-term contracts, including a third agreement for more than 600 MW over a 10-year term, and expanded operated fleet capacity past 3.1 gigawatts. This backlog is the core reason the stock re-rated.
2. Fleet expansion and long-term contracts
Management is scaling toward an operated fleet of roughly 3,100 MW by the end of 2029, backed by contracted capacity with technology customers. Long-duration contracts with extension options provide revenue visibility that traditional oilfield equipment leasing lacks. Execution on delivering and commissioning this equipment on schedule is the central driver of forward results.
3. Legacy logistics cash generation
The Solaris Logistics Solutions segment continues to supply sand-handling and material-management systems to oil and gas completions, providing a base of cash flow that partly funds the power buildout. It is now the smaller and slower-growing side of the business, but it anchors the company's roots and relationships in energy end markets.
4. Financing capacity for growth
SEI raised close to $2 billion in 2025 and 2026, including a $1.3 billion 6.375 percent senior notes offering, to fund turbine purchases and fleet growth. Ample liquidity lets the company pursue additional contracts, though it also introduces interest cost and leverage that must be serviced from contracted cash flows.
What are the risks to Solaris Energy Infrastructure, (SEI)?
Customer concentration is the dominant risk: as of late 2024 a single large customer accounted for the vast majority of power solutions revenue, so any contract change, delay, or non-renewal could sharply affect results. The valuation is demanding, with the stock trading at a large multiple of trailing earnings, leaving little room for execution stumbles or slowing AI-power demand. Rapid fleet expansion funded by roughly $1.3 billion of debt raises leverage and interest expense, and turbine delivery timelines are subject to supply chain and commissioning delays. The legacy logistics business remains tied to volatile oil and gas activity, and cash generation has historically been sensitive to commodity price swings. Broader risks include competition from larger equipment and power providers and the possibility that hyperscalers build or procure power capacity in-house.
How is Solaris Energy Infrastructure, (SEI) valued? (approximate, MAY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Solaris Energy Infrastructure, 's investor relations page or your broker.
- Revenue (TTM): ~$690M
- Revenue (FY2025): ~$622M
- Q1 2026 revenue: ~$196M (up ~55% YoY)
- Adjusted EBITDA (TTM): ~$283M
- Market cap: ~$6-7B
- Net debt / EBITDA: ~1.3x
SEI trades at a rich trailing P/E in the roughly 80 to 95 range, reflecting expectations that its contracted power fleet drives large forward earnings growth. Q1 2026 delivered record revenue near $196 million and Adjusted EBITDA of about $84 million, ahead of consensus, and management raised near-term EBITDA guidance. The company carries roughly $1.3 billion of net debt after refinancing, keeping leverage near 1.3 times EBITDA.
Who competes with Solaris Energy Infrastructure, (SEI)?
Distributed and mobile power providers
In power solutions SEI competes with equipment and rental power specialists such as Aggreko and Caterpillar, plus other providers of behind-the-meter and bridge power to data centers and industrial sites. These firms have larger scale and equipment fleets, though few are as focused on the mobile, contract-based data center power niche.
Oilfield logistics and services peers
In its legacy logistics segment SEI competes with oilfield service and equipment names including ProPetro Holding, Ranger Energy Services, Select Water Solutions, Archrock, and Nabors Industries. Competition centers on sand handling, material management, and completions support, where activity levels track oil and gas drilling.
In-house and hyperscaler power procurement
A structural competitive threat is that large data center operators and hyperscalers may build, buy, or contract power capacity directly rather than lease it, or turn to utilities and independent power producers. This alternative supply channel could pressure demand for SEI's leased fleet over time.
How to invest in Solaris Energy Infrastructure, (SEI)
There are three common ways to get SEI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so SEI sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where SEI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Solaris Energy Infrastructure, (SEI)
SEI is a genuine, rapidly scaling AI-power and oilfield-logistics operator whose long-term contracts have re-rated the stock, but the premium valuation and concentrated customer base mean the story hinges on flawless fleet execution.
More on Solaris Energy Infrastructure, (SEI)
Whether SEI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is SEI a buy?, and where the stock could go from here in the SEI stock forecast.
For income investors, whether SEI pays a dividend and how the payout looks is covered in does SEI pay a dividend?
Build a basket around SEI with Walnut
Use Solaris Energy Infrastructure, as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Solaris Energy Infrastructure (SEI) do?
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SEI provides mobile, scalable power generation and distribution equipment, primarily natural-gas turbines leased to data centers and industrial customers, alongside a legacy logistics business that supplies sand-handling systems for oil and gas well completions.
Why did the ticker change from SOI to SEI?
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The company was renamed from Solaris Oilfield Infrastructure to Solaris Energy Infrastructure to reflect its expansion into distributed power. Its Class A shares stopped trading as SOI and began trading as SEI on the NYSE on September 12, 2024.
How does SEI make money?
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SEI earns revenue from two segments: Solaris Power Solutions, which leases power generation and distribution equipment under long-term contracts, and Solaris Logistics Solutions, which provides sand-handling and material-management systems to oilfield completions.
How fast is SEI growing?
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Revenue nearly doubled in 2025 to about $622 million, and Q1 2026 revenue of roughly $196 million rose around 55 percent year over year, driven mainly by expansion of the power generation fleet and new data center contracts.
Why is SEI's stock valuation so high?
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As of May 2026 SEI traded at a trailing P/E roughly in the 80 to 95 range because investors price in large forward earnings growth from its multi-gigawatt contracted power backlog serving AI and data center demand. The premium leaves little margin for execution missteps.
What is SEI's biggest risk?
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Customer concentration is the largest risk. A single large technology customer has historically driven the bulk of power solutions revenue, so any contract change or delay could materially affect results. The rich valuation and roughly $1.3 billion of debt add to the risk profile.
Who are SEI's main competitors?
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In power, SEI competes with rental and equipment power providers like Aggreko and Caterpillar. In logistics, it competes with oilfield service peers such as ProPetro, Ranger Energy Services, and Select Water Solutions. Hyperscalers procuring power in-house are a structural threat.
Does SEI pay a dividend?
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SEI has historically paid a small quarterly dividend carried over from its Solaris Oilfield days, but the investment story is centered on power fleet growth rather than income. Investors should check the latest filings for the current dividend rate, since Walnut is not an investment adviser.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Solaris Energy Infrastructure, 's investor relations page or your broker before making investment decisions.