AI boom driving earnings growth for Europe’s biggest industrial companies

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.