Siemens raises outlook as CEO touts AI shift
German industrial giant Siemens on Thursday raised its outlook for the year after a strong first quarter boosted by spending on artificial intelligence.
Along with other industrial firms including France’s Schneider Electric, Siemens — which makes electrical gear — has benefitted from a buildout of data centres in the United States that provide the computing power for artificial intelligence.
Core earnings at the firm rose 15% in its first quarter to end December to reach 2.9 billion euros ($3.4 billion), it said, while revenue rose 4% to 19.1 billion euros.
