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Gotrade News - Flex (FLEX) introduced Axiom, the planned spin-off of its Cloud and Power Infrastructure business, at its Innovation Day in Austin, Texas, on Tuesday, November 10, 2026, according to Flex's presentation filed with the SEC. The presentation estimates Axiom's calendar 2026 revenue at about $10 billion.
Regular-session close on November 10, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
What Flex Announced
The presentation describes Axiom Solutions International, Inc. as the independent publicly traded company Flex plans to form from the Cloud and Power Infrastructure business, and lists Revathi Advaithi as its expected Chief Executive Officer. For Axiom it lists about 35,000 employees, about 5,000 engineers, 19 manufacturing locations and 8 R&D and service locations, with a portfolio spanning power, cooling, compute and services.
In a second presentation filed the same day, Flex said it is on track to complete the planned spin-off of Axiom in calendar Q1 2027, establishing two focused, independent public companies. The filings' legal notices also refer to an agreement under which GC Venture XIII (ASI), L.P. and other investors agreed to collectively purchase 200,000 shares of Axiom's Series A Convertible Preferred Stock in a private placement.
Michael Hartung, named in the presentation as Chief Executive Officer, set out the investment case for Flex after the spin-off. The presentation cites $21 billion in fiscal 2026 net sales from the Regulated Manufacturing Solutions and Integrated Technology Solutions segments, 110,000 employees and operations in 30 countries.
Why It Matters for FLEX
Flex said the separation creates two companies: an advanced manufacturing business serving healthcare, industrial, automotive, communications and lifestyle markets, and Axiom, which the company describes as a leader in critical digital infrastructure for AI data centers and mission-critical applications. The company said each would be purpose-built for its market, with capital and focus directed to where each business has the strongest right to win. Flex noted that it previously executed the Nextracker spin-off.
The presentation places Axiom within what it calls a multiyear AI investment cycle, citing S&P Global Market Intelligence and EEI figures of more than $1 trillion in estimated average annual hyperscaler capital spending, more than 200 GW of new power for data centers and $1.4 trillion of planned US utility investment from 2026 to 2030. Flex also said its adjusted operating margin almost doubled from fiscal 2019 to more than 6% in fiscal 2026, and that adjusted EPS grew about 3x over the same period.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
