In late February and mid-March 2026, insiders at two companies that power the AI infrastructure buildout filed Form 4 disclosures for open-market stock purchases totaling $1.72M. These aren't AI software or chatbot companies — they're the physical infrastructure and transportation networks that AI runs on.
One builds the power delivery systems for AI data centers. The other operates the transportation platform positioning itself at the forefront of autonomous vehicles. Here's each filing, our scoring, and what the convergence tells us about where the smart money sees AI heading next.
Signal 1: Babcock & Wilcox (BW) — AI data center power infrastructure
This one features a rare double signal: both the CEO and CFO bought shares on the same day.
CEO purchase
| Field | Details |
|---|---|
| Insider | Kenneth Young, CEO |
| Date | March 18, 2026 |
| Shares | 7,000 |
| Price | $15.15 |
| Total | $106,015 |
CFO purchase
| Field | Details |
|---|---|
| Insider | Cameron Frymyer, CFO |
| Date | March 18, 2026 |
| Shares | 1,285 |
| Price | $14.76 |
| Total | $18,967 |
Company profile: Babcock & Wilcox is pivoting from its legacy industrial power business into AI data center power solutions — and the market is paying attention. The company recently won a $2.4 billion contract, and its pipeline now sits at $12 billion. B&W's stock has surged over 1,000% in the past year and is up 134% year-to-date, making it one of the most dramatic turnaround stories in the energy infrastructure sector.
Why the insiders are buying: When a stock has already run over 1,000%, you might expect insiders to be selling, not buying. The fact that both the CEO and CFO are adding personal capital on the same day suggests they see the current price as a waypoint, not a peak. CEO Kenneth Young has made 10 purchases and zero sells over the past 5 years — that's the kind of one-directional track record that removes ambiguity about intent. The $2.4B contract win and $12B pipeline provide a visibility runway that explains the confidence. The lower financial scores (50 for CEO's signal, 40 for CFO's) reflect the company's legacy balance sheet challenges during its pivot phase, but the fundamental and technical profiles are strong.
Signal 2: Uber Technologies (UBER) — Autonomous transportation infrastructure
| Field | Details |
|---|---|
| Insider | Balaji Krishnamurthy, CFO |
| Date | February 24, 2026 |
| Shares | — |
| Price | — |
| Total | $1,599,780 |
Company profile: Uber's $52 billion in revenue and $9.8 billion in free cash flow make it one of the largest companies in our signal universe this quarter. But what makes this filing relevant to the AI infrastructure thesis is Uber's active pursuit of autonomous vehicle integration. The company is positioning itself as the platform layer for AI-powered transportation — the operating system that autonomous vehicles will run on, regardless of who manufactures the hardware.
Why the CFO is buying: A $1.6M purchase by the CFO — the person with the deepest visibility into Uber's financial trajectory — near the stock's monthly trading range low is a strong conviction signal. Uber's transition from growth-stage ride-hailing company to a free-cash-flow-generating infrastructure platform is still underappreciated by the market. The autonomous vehicle integration work adds an entirely new growth vector that the CFO can see progressing internally but the market has only partially priced in.
The convergence: what these insiders see
Three insiders across two companies — all deploying significant personal capital into AI infrastructure plays within a three-week window. Combined purchases: $1.72M.
| Ticker | Niche | Purchase | Score | Rating |
|---|---|---|---|---|
| BW (CEO) | Data center power | $106K | 60.3 | BUY |
| BW (CFO) | Data center power | $19K | 62.2 | BUY |
| UBER (CFO) | Autonomous transport | $1.60M | 69.6 | BUY |
This isn't cluster buying in the traditional sense (that's the Babcock & Wilcox purchases alone, where CEO and CFO bought on the same day). But it's something arguably more telling: cross-company insider conviction in adjacent parts of the AI infrastructure stack. Executives with intimate knowledge of the physical layer of AI deployment are all saying the same thing with their personal capital: the AI buildout is real, it needs power and transportation infrastructure, and current valuations don't fully reflect the demand pipeline they're seeing internally.
The investment thesis
The AI narrative has gone through distinct phases. In 2023–2024, it was chips and models. In 2025, it was software and applications. In 2026, the market is beginning to price in what these insiders already know: AI needs physical infrastructure at scale.
Babcock & Wilcox represents the power delivery layer. AI data centers consume enormous amounts of electricity, and B&W's pivot from legacy industrial power to data center-specific solutions positions them at the bottleneck. A $2.4B contract win and $12B pipeline demonstrate that this isn't speculative — the demand is contracted.
Uber represents the autonomous transportation layer. As AI moves from data centers into the physical world, the platform that connects autonomous vehicles to riders and delivery requests has infrastructure-level strategic value. Uber's $9.8B in free cash flow gives it the capital to fund this transition without dilution.
When the people building and financing this infrastructure are buying their own stock at prices the market considers fair or cheap, that's data worth paying attention to. The convergence of insider buying across different parts of the AI physical layer suggests these executives see a demand curve that the broader market hasn't fully priced in.