FRANKFURT (dpa-AFX) - The expansion of cooperation with Nvidia in the field of Artificial Intelligence (AI) pushed Siemens shares to a record high on Wednesday. The stock traded up as much as 2.50 percent, reaching as high as €253.80, surpassing the €253 mark for the first time in its history. According to one trader, the statements reminded investors that Siemens is sometimes overlooked as a major German company with significant AI potential.
In the keynote address opening the CES technology fair, Siemens CEO Roland Busch, together with Nvidia CEO Jensen Huang, announced several initiatives aimed at using AI not only for simulating workflows and design changes, but also to bring AI applications more strongly into physical reality. "We are at the beginning of a new industrial revolution," said Huang. Both companies declared their goal to jointly create a kind of operating system for industrial AI deployment.
In addition, the research firm Bernstein Research expressed optimism by resuming coverage of Siemens with an "Outperform" rating. Siemens is expected to benefit from a recovery in the automation segment, wrote expert Alasdair Leslie in his report./tih/mis
