Siemens Shares Hit Record as Data Center Boom Drives Orders
- AI spending has driven demand for electrification business
- Shares rise most since March 2022, 12-month gain reaches 40%
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Siemens AG’s shares rose to a record after the company said the boom in power hungry data centers will drive demand for its transformers and grid technology in the coming year.
Comparable revenue is expected to rise as much as 7% this fiscal year, after rising 3% in the 12 months through the end of September, Siemens said Thursday. Siemens raised its dividend 11% to €5.20 ($5.48) per share.