While Wall Street crowds into obvious AI winners, hedge fund billionaire Andreas Halvorsen is doing something far less flashy — and far more revealing.

The founder of Viking Global has been quietly building a sizable position in a company that doesn't design chips, train models, or dominate AI headlines. Instead, it sits deeper in the stack — supplying the physical infrastructure that AI simply cannot run without.

This Is Accumulation, Not A Trade

This isn't a quick dip. Viking has steadily increased its stake, deploying roughly $28 million over several months at an average price well above where the stock traded a year ago. That timing matters. Halvorsen isn't chasing a drawdown — he's buying into strength.

The stock itself has been largely flat over the past year, even as AI spending has surged. That disconnect is exactly where long-term capital tends to step in.

The AI Exposure Hiding In Plain Sight

The company is Regal Rexnord Corp (NYSE:RRX). Its products — motors, actuators, cooling systems, power transmission components, and modular infrastructure — are designed directly into data centers, factories, and aerospace platforms.

Once embedded, they're hard to replace and rarely discretionary. Regal Rexnord has secured large hyperscale data center orders, including a $35 million single-site project in North America, tying it directly to AI infrastructure buildouts without taking AI-model risk.

There's also a second growth lever. Through partnerships with players like Honeywell International Inc (NASDAQ:HON), Regal Rexnord is positioning itself inside advanced aerospace and mobility platforms, adding a long-cycle tailwind unrelated to short-term tech sentiment.

Why This Fits Halvorsen's Playbook

This is classic Viking: unglamorous, embedded, and essential. It's a bet on infrastructure demand that compounds quietly while others chase narratives.

Everyone wants to own AI. Halvorsen is buying what AI can't function without. Regal Rexnord doesn't sell the story — it sells the parts. And in this phase of the AI cycle, that distinction may matter more than most investors realize.

Image created using artificial intelligence via Midjourney.