FRANKFURT (dpa-AFX) - The record chase of Siemens Energy shares gained new momentum on Wednesday after a break of a few days. The share price shot up by 9.4 percent, which was justified on the market with fantasies for the global expansion of data centers. The shares went up to 56.68 euros over the course of the day. This was in line with the positive share price performance of competitor GE Vernova in New York the previous evening. The latter is expected to publish its quarterly figures at midday.
Analyst Ajay Patel from the investment bank Goldman Sachs pointed to the megatrend of artificial intelligence, which requires massive investment in infrastructure, as the reason for the rally on Wednesday. The ChatGPT developer OpenAI alone wants to invest USD 500 billion in data centers together with technology partners such as Oracle and the Japanese Softbank Group. US President Donald Trump announced the Stargate project, in which an initial 100 billion dollars are to be invested as a first step. Patel pointed out that Siemens Energy does around 20 percent of its business in the USA, for example with gas turbines and grid components.
The project also boosted Oracle shares in New York by almost eight percent. Softbank Group shares also traded 12 percent higher in Frankfurt Tradegate trading.
Shares in construction group Hochtief also continued to benefit from AI and infrastructure fantasies. They rose by a good three percent to a high since 2019. The company also specializes in the construction of data centers./tih/mis