Frankfurt, Germany, Aug 5, 2026 (AFP) - Siemens Energy triples profit as AI boosts power demand

NAMPA / AFP

2026-08-05

German turbine-maker Siemens Energy said Wednesday that its core profit had tripled as the company gains from surging electricity demand driven by the AI boom. Excluding one-offs such as last year's sale of a business in India, Siemens Energy's profit surged to 1.62 billion euros ($1.87 billion) in the three months to end-June, up from 497 million euros in the period last year. Order intake -- a measure of future sales -- rose 8.5 percent to almo......

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