2 Millionaire-Maker Networking Stocks Powering the AI Buildout

The artificial intelligence (AI) trade has been interesting to watch this year. Some of the biggest names in the industry -- think Nvidia, for example -- have exploded over the past five years as AI went from a niche topic to something you hear about everywhere. Now, investors are chasing companies that seem to put "AI" in their pitches at every opportunity.

But I think the more interesting investment opportunities could be in the companies building the infrastructure that makes all of this possible. If you believe a significant share of the money in AI will eventually flow to the businesses building the metaphorical "roads and bridges" rather than the flashy cars, networking is where things get interesting.

Two companies that stand out to me are Arista Networks (NYSE: ANET) and Ciena (NYSE: CIEN) because they have a straightforward job: helping all this new computing power communicate with itself and connect to the rest of the world.

Image source: Getty Images.

1. Arista Networks: organizing the traffic inside AI data centers

Arista builds equipment that moves information around inside large computing hubs. Think of the racks of servers and chips as a crowded city. Arista's switches and software are the streets, traffic lights, and maps. In 2026, the company introduced a new family of products -- the 7060XE7 series -- designed to handle much heavier data loads in these centers as companies ramp up their AI work. Without getting too technical, the idea is straightforward: Instead of building networks one room at a time, Arista is selling equipment that integrates whole rows of machines as one big system, so information can move quickly and predictably across servers.

Arista also built new optics and cabling platforms that let customers fit more connections into less space and reduce the power and heating required to keep those links running. This matters because the energy costs and floor space requirements are becoming real constraints in the build-out of modern data centers.

Also, Arista isn't relying on one product line. It has built a scaled networking business spanning data centers, office campuses, and routing, with strong cash generation giving it the flexibility to keep investing as AI drives more traffic across networks. Put it all together, and if AI truly becomes as big as many expect, Arista could be one of the companies turning that boom into a millionaire-making investment.

Even after a rough 800% run over the past five years, Arista's valuation still broadly lines up with its growth profile: Shares trade at about 38 times next year's expected earnings with a five‑year price/earnings-to-growth (PEG) ratio near 1.5. Arista is backed by profit margins approaching 40% and operating margins in the mid‑40% range, and its revenues have been growing by close to 30% annually. In short, investors are paying a reasonable premium for a cash‑rich, high‑return business rather than a bubble‑level multiple for one, which fits the idea of a great company at a roughly fair price for its still-growing AI infrastructure play.

2. Ciena: strengthening the long‑distance links

Ciena works more on the long‑haul side of the story. Where Arista focuses on the "city grid" inside a data center, Ciena focuses on providing the highways and rail lines that connect those cities. Earlier this year, the company highlighted new optical systems that can move more data over existing fiber while using less power and equipment. As AI drives more traffic between regions, this gives telecom and cloud companies a way to expand capacity without rebuilding their networks from scratch.

Ciena is also adding smarter tools to manage traffic and spot congestion before it becomes a problem. The company even launched Ciena Ventures, a corporate venture program aimed at backing younger firms working on related problems, which suggests it sees this infrastructure build-out as a long journey, not a sprint.

Ciena has put up multi‑bagger returns, up over 500% in the last five years. But the ticker isn't too expensive yet. The current price still reflects very real growth expectations: Management is guiding to around 35% revenue growth this year and targeting roughly 30% average annual revenue growth through 2029, with gross margins near 45% and improving operating margins.

On the surface, Ciena's stock looks expensive, with forward earnings multiples in the mid‑30s. But when you weigh those metrics against its revenue growth rates in excess of 30%, fast‑rising earnings, and cash‑flow models that still point to upside, it looks more like a solid growth story priced for delivery than a frothy AI gamble.

Neither of these tickers is a sexy, household name, but both sit in places that AI has no choice but to pass through: inside the big computing hubs and across the fibers that connect them. If you're looking for millionaire‑maker candidates in AI networking, these two strike me as businesses that are doing tangible things for the AI era. They make traffic flow, cut energy needs, and improve reliability.

Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Arista Networks, Ciena, and Nvidia. The Motley Fool has a disclosure policy.