German giant Siemens is another company benefiting from the artificial intelligence investment boom, reporting its highest-ever quarterly industrial profit and raising its full-year guidance on Thursday.
Siemens said it was seeing strong demand for data centers used to process AI, as well as for AI-enabled software and devices used to control factories and buildings.
Sentiment was also improving from aerospace, defense and machine-building customers, prompting the company to raise its full-year profit guidance after beating third-quarter expectations.
"Our sharp focus on driving industrial AI and our strong positioning in attractive markets give us a solid foundation for our success," CEO Roland Busch told reporters.
The company's industrial AI products, which help customers speed up innovation and improve productivity, were driving growth, he added.
