Siemens Energy Sees Data Centers Driving Demand Into 2030s

Siemens Energy AG expects the artificial intelligence boom that’s driving data center construction to bolster its sales for years to come.

The manufacturer is sold out in major parts of its business until 2030 and beyond as the electrification trend is proving structural, Chief Financial Officer Maria Ferraro said Tuesday. The company also announced plans to execute its €6 billion ($7 billion) share buyback program faster amid strong orders for its gas turbines and grid products.