Schneider Electric tops revenue forecast as it rides AI data centre wave
Schneider Electric beat first-quarter revenue expectations due to growing demand for its data centre equipment, driven by the global artificial intelligence buildout. The company confirmed its full-year targets and expects a reduced negative impact of foreign exchange fluctuations on revenue.
Schneider Electric narrowly beat first-quarter revenue expectations, boosted by the global artificial intelligence data centre buildout. Revenue grew 11.2% organically to 9.77 billion euros. Large cloud providers are expected to invest over $600 billion into data centres and AI-related infrastructure this year. Schneider makes power equipment, server racks, and cooling systems for data centres. The company acquired U.S. liquid cooling specialist Motivair last year, expanding its product portfolio. Schneider confirmed its full-year targets and expects the negative impact of foreign exchange fluctuations on revenue to be between 750 million euros and 850 million euros in 2026.
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