German industrial giant Siemens on Thursday raised its profit outlook for the second time this year after a quarter boosted by AI spending, but its shares plunged after the forecast fell short of investors' hopes.But Siemens shares dropped six percent in early Frankfurt trading, with analysts pointing to expectations of higher full-year profits, as well as fears that new AI tools will disrupt Siemens's own software business.
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AFP7d agobearish
Siemens shares plunge on disappointing guidance raiseBarrons.com13d agobearish
Fears of an AI Spending Crash Aren’t Showing Up in Earnings, Far From ItEarnings from Schneider Electric and several other companies beyond Microsoft can give nervous investors some comfort about the direction of the AI trade.