Vertiv raised its full-year outlook but said it hit some supply chain snags in the second quarter as it races to keep up with rapid artificial intelligence development.

The company, which makes products to power and cool data centers, on Wednesday posted a profit of $497.8 million, or $1.27 a share, compared with $324.2 million, or 83 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $1.52, ahead of the $1.42 anticipated by analysts, according to FactSet.

Revenue rose 24% to $3.27 billion. Analysts surveyed by FactSet forecast revenue of $3.38 billion.

Shares slid 9.5% to $243.88 in pre-market trading after sales missed expectations. The company said revenue reflected minor timing shifts, primarily due to temporary supply chain congestion and multi-phase project execution as deployments scale in size and complexity.

Vertiv is one of the companies benefiting from the tech industry pouring billions into AI development because data centers are used for the training and deployment models.

"Demand for AI and general compute continues to intensify and with each technology advancement, deployments grow more complex and more infrastructure-intensive," Chief Executive Giordano Albertazzi said.

Vertiv raised its sales outlook to a range of $13.8 billion to $14.2 billion, up from $13.5 billion to $14 billion. It now expects adjusted earnings to be $6.65 to $6.75, up from $6.30 to $6.40.

For the current third quarter, the company is projecting $3.65 billion to $3.85 billion in sales and $1.77 to $1.83 in adjusted earnings per share. Analysts are forecasting $3.71 billion in revenue and $1.79 a share in adjusted earnings.