James

Coin

<ul class="news-points wp-block-list" wp-block-list>
 <li>AI-driven demand doubles data center revenue for top European industrial firms to €20B.&nbsp;&nbsp;</li>
 <li>Schneider Electric leads in data center growth with 17% revenue from secure power division.&nbsp;&nbsp;</li>
 <li>Power supply delays challenge AI’s impact on data center expansion, despite growing demand.</li>
</ul>
Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-08-20/ai-boom-fuels-earnings-growth-for-europe-s-industrial-giants" target="_blank" rel="noopener noreferrer nofollow">reports</a> that the growth of artificial intelligence (<a href="https://coinedition.com/artificial-intelligence-takes-center-stage-at-blockchain-futurist-conference-2024-in-toronto/" rel="noopener noreferrer nofollow">AI</a>) is significantly boosting revenue for some of Europe’s biggest industrial companies. While global manufacturing demand weakens, particularly in Asia and North America, companies like ABB Ltd, Siemens AG, Legrand SA, and Schneider Electric SE are seeing an increase in orders for data center infrastructure.
In the past year, the six largest electrical companies saw their data center revenues reach €20 billion ($22.2 billion). This figure has shown a doubling of revenue compared to five years ago, indicating a strong growth trajectory in the sector.&nbsp;
Redburn Atlantic analyst James Moore predicts sales will keep growing by about 15% annually through 2027. This growth is not limited to just <a href="https://coinedition.com/european-market-watchdog-advises-crypto-firms-to-prepare-for-rules/" rel="noopener noreferrer nofollow">European</a> firms; US companies like Vertiv Holdings Co. and Eaton Corp Plc are also benefiting from the AI-driven demand.
Data c…
The post <a href="https://coinedition.com/the-surprising-winners-of-the-ai-boom-not-just-big-tech/" rel="noopener noreferrer nofollow">The Surprising Winners of the AI Boom: Not Just Big Tech</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

The Surprising Winners of the AI Boom: Not Just Big Tech

Coin Edition

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