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数据库Siemens Energy sees strong demand from AI data centers into 2030s
Germany-based power equipment maker Siemens Energy said on May 12 that strong demand from AI data centers and wider electrification has filled major parts of its order book through 2030.
The company also said the demand has prompted it to accelerate its 6 billion euro (US$7.06 billion) share buyback plan.
Demand for gas turbines and grid products should extend into the next decade, with the US a key market as some data centers turn to turbines when grid constraints slow new connections, said Maria Ferraro, CFO, Siemens Energy.
The company booked 179 turbine orders in the first half of its fiscal year versus 194 in all of fiscal 2025 and said it may repurchase up to another 1 billion euros (US$1.18 billion) of shares this fiscal year without raising the 6 billion euros (US$7.06 billion) cap set for fiscal 2028.
🔗 Source: Bloomberg
🧠 Food for thought
Implications, context, and why it matters.
AI power spending is lifting energy company results
- Siemens Energy turned strong orders into net profit of 746 million euros (US$878 million) in the first quarter, up from 252 million euros (US$296 million) a year earlier 1.
- That run has pushed the company to sixth among Germany’s listed firms by market value, at about 130 billion euros (US$153 billion) 1.
- Demand reaches beyond Siemens Energy. GE Vernova, the energy equipment company spun out of General Electric, says turbine reservations are on track to sell out through 2030 2.
- Energy forecasts have shifted fast. Projected U.S. power demand growth to 2030 rose from 24 gigawatts in 2022 to 166 gigawatts in the latest Federal Energy Regulatory Commission (FERC) projection, largely because of AI data center demand 2.
Large cloud companies turn to on-site power as grid delays grow
- Grid bottlenecks are severe. In some markets, data center operators face interconnection waits of more than six years, which leaves some sites built but still without power 2.
- Some large cloud and internet companies now use a bring your own power approach. That means behind-the-meter, or on-site, generation with equipment such as gas turbines or fuel cells to cut reliance on the grid 2.
- Energy companies are gaining a new kind of buyer. Oracle plans to run its Project Jupiter campus in New Mexico entirely on Bloom Energy fuel cells, with capacity of up to 2.45 gigawatts 2.
- The money behind this push is huge. Annual spending by hyperscalers, or large cloud computing companies such as Microsoft, Amazon, Alphabet (Google), and Meta, is on pace to top US$700 billion 2.
