Schneider Electric seals $2.3 billion in US data centre deals to power AI boom [Yahoo! Finance]
SCHNEIDER ELEC UNSP/ADR (SBGSY)
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Source: Yahoo! Finance
(Reuters) -Schneider Electric said on Wednesday it had signed new deals worth almost $2.3 billion with ?two U.S. data centre operators, as surging adoption ?of artificial intelligence boosts infrastructure demand. At an industry event in Las Vegas, the French industrial group ?announced a $1.9 billion partnership with privately held tech firm Switch, covering power modules and cooling systems. The second agreement, valued at $373 million and involving uninterruptible power supplies and switchgear, was signed with Texas-based Digital Realty. Schneider, France'?s biggest energy company by ?market value, has emerged as a key data centre supplier, making server racks, cooling and power equipment that form ?the backbone of AI infrastructure. It is also working with chipmaker Nvidia to design cooling systems for its most powerful AI chips. Large-scale cloud service providers, also known as hyperscalers, ?are racing to build AI infrastructure. Amazon, Meta, Google ?and Microsoft a
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