AI boom fuels earnings growth for Europe’s industrial giants

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Artifical Intelligence News

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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.

A logo sits on display outside the Siemens AG headquarters in Munich, Germany, on Friday, Jan. 10, 2020. --

“The AI gold rush is nothing that I have seen in the last 20 years in the data center industry,” Pankaj Sharma, executive vice president of the secure power division at Schneider Electric, said in an interview. The division provides both the hardware and supporting software for data centers. Schneider has 17 per cent revenue exposure to data centres, with cooling technologies a key part of its offering. Liquid cooling in particular – where a coolant passes through a pipe that is physically adjacent to the server – can lower temperatures in high-density data centers more effectively than simple air cooling.

“Right now, more of our pipeline of opportunity is AI related than is traditionally related,” said Ciaran Flanagan, Siemens’ global head of data center solutions.

 

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