Here's what smart money looks like when it's not trying to be interesting: billionaire hedge fund manager Andreas Halvorsen is loading up on a company that doesn't train AI models, doesn't make cutting-edge chips, and barely gets mentioned in the same sentence as artificial intelligence.
The Viking Global founder has been steadily accumulating shares of Regal Rexnord Corp (RRX), deploying approximately $28 million over several months. And here's the tell: he's been buying at an average price well above where the stock traded a year ago. This isn't bargain hunting. This is conviction.
What Regal Rexnord Actually Does
Think motors, actuators, cooling systems, power transmission components, and modular infrastructure. The unglamorous stuff that gets designed directly into data centers, factories, and aerospace platforms. Once it's in, it's not getting ripped out. These aren't discretionary purchases.
The company has secured major hyperscale data center orders, including a $35 million single-site project in North America. That ties Regal Rexnord directly to AI infrastructure spending without exposing it to the risk that someone's large language model turns out to be mediocre.
There's also a secondary angle. Through partnerships with companies like Honeywell International Inc (HON), Regal Rexnord is positioning itself inside advanced aerospace and mobility platforms. That's a long-cycle growth story with zero dependency on whether tech sentiment holds up next quarter.
Why This Makes Sense
The stock has been largely flat over the past year, even as AI spending has exploded. That disconnect is exactly where patient capital shows up. Halvorsen isn't chasing momentum or trading headlines. He's betting on infrastructure demand that compounds quietly while everyone else argues about which AI company will win.
This fits Viking's entire approach: unglamorous, embedded, essential. Everyone wants exposure to AI. Halvorsen is buying what AI literally cannot function without. Regal Rexnord doesn't sell the narrative. It sells the parts. And in this phase of the cycle, that distinction might be the entire point.
