AI Boom Fuels Earnings Growth For Europe’s Industrial Giants
- ABB, Siemens, Schneider Electric see data-center orders surge
- Revenues from data centers reached €20 billion last year
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The artificial-intelligence boom is giving some of Europe’s biggest industrial companies a welcome lift as they weather weaker manufacturing demand from Asia to North America.
ABB Ltd, Siemens AG, Legrand SA and Schneider Electric SE have seen a surge in orders for data-center infrastructure — server racks, electrical equipment and cooling technologies — that enable AI giants like Nvidia Corp. to build faster and more efficient computing models.