Siemens's Net Profit Rises as AI Boom Lifts Demand.

Siemens, the German industrial giant, reported higher net profit and revenue in the third quarter, attributing the growth to the boom in artificial intelligence (AI) and the energy transition. The company stated that it continued to benefit from high demand for electrical infrastructure, particularly in the smart infrastructure segment. Siemens executives expect AI-driven growth to continue, although not at current levels, and anticipate that the demand for electrical power will triple by 2050. Despite a difficult economic situation in China and Europe, Siemens delivered orders from its backlog and expanded profitability. [Extracted from the article]