AI boom fuels earnings growth for Europe’s industrial giants

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 40 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 68%
  • Publisher: 50%

Artifical Intelligence News

Business,Company News,Computers

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines