{
  "id": 19621123,
  "title": "AI boom powers Siemens to record annual profit",
  "url": "https://urgent.news/2026/11/12/ai-boom-powers-siemens-to-record-annual-profit-19621123",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-12T07:34:08.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/12/ai-boom-powers-siemens-to-record-annual-profit"
  },
  "original_language": "en",
  "account": "German engineering company Siemens reported record annual profits and announced ambitious growth targets on Thursday, citing the artificial intelligence boom as a key driver of success. The AI boom has boosted companies in Siemens' supply chain, particularly those that manufacture electrical and cooling equipment for AI data centers. US tech giants Microsoft and Meta have invested billions in AI data centers, contributing to Siemens' financial growth.\n\nSwiss competitor ABB reported a 40% increase in orders for the three months ending September, while France's Schneider Electric saw sales growth that exceeded expectations. Siemens' core industrial profit rose 13% to €13.3 billion for the fiscal year ending September, exceeding expectations. The company expects continued growth in 2027, guiding for sales growth of 9-11% and earnings per share growth of at least 10%, up from previous single-digit projections.\n\nCEO Roland Busch expressed satisfaction with the company's performance, stating that Siemens is providing an ambitious outlook for 2027 and raising its group-level mid-term targets. The company's smart infrastructure business saw a 40% increase in orders to €8.67 billion, driven by larger contracts from data center customers. Orders at Siemens' digital industries division, which provides software for engineering and automation, grew by 16% to €6.41 billion. Through its \"Industrial AI\" strategy, Siemens has shifted focus towards higher-margin software products under Busch's leadership.",
  "summary": "The German engineering giant makes electrical and cooling equipment needed to operate data centres.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "European shares log record close on Siemens, CoreWeave-fuelled AI optimism",
        "url": "https://urgent.news/2026/11/11/european-shares-log-record-close-on-siemens-coreweave-fuelled-ai",
        "published": "2026-11-11T21:56:44.000Z"
      },
      {
        "outlet": "Economic Times Tech",
        "title": "AI boom powers Siemens to record annual profit",
        "url": "https://urgent.news/2026/11/12/ai-boom-powers-siemens-to-record-annual-profit",
        "published": "2026-11-12T06:52:26.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}