Power management & automation · datacenter infrastructure
Schneider Electric
A global leader in power management and industrial automation, and one of the few players that sells the entire datacenter power-and-thermal stack — from switchgear to UPS to liquid cooling. Datacenters are its top growth driver (Q1 revenue €9.77bn, +11%), and it co-developed reference designs with NVIDIA for GB200/GB300 NVL72 (132kW per rack), pre-empting the next-generation rack power and cooling standard. Galaxy VXL UPS, Motivair liquid cooling and large deals (Switch $1.9B, Digital Realty) show a business riding hyperscaler capex directly.
SU.PA Updated Jul 12, 2026 2 AI consumers· 1 recurring
Per the valuechain.wiki graph, Schneider Electric is directly linked to 4 companies (0 supply, 4 revenue relationships) and reaches 28 companies within two hops; the links are backed by 3 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Q1 revenue €9.77B (+11%)
- Customer concentration · Datacenter is top growth; NVIDIA partnership.
- Segments · Datacenter power/UPS · Liquid cooling (Motivair) · Electrical/automation
Revenue from
- Alphabet (Google) Medium confidence
Supplies power, UPS and cooling infrastructure to Google (Alphabet) datacenters — a high-growth revenue line where NVL72-class dense racks raise switchgear and UPS content.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA - Amazon Medium confidence
Supplies power, UPS and cooling to Amazon AWS datacenters — revenue riding the world's largest cloud capex, where the build pipeline is order visibility.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA - Microsoft Medium confidence
Supplies switchgear, UPS and liquid cooling to Microsoft Azure datacenters — revenue tied directly to hyperscaler capex, with power-and-cooling content per site growing as rack density rises.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA - Meta Platforms Medium confidence
Supplies power, UPS and cooling to Meta datacenters — AI training-cluster expansion raises per-rack power, lifting the value of power-and-cooling content.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA - Colocation · industrial · buildings (power · automation) Medium confidence
Baseline demand in colocation, industry and buildings for power management and automation — less explosive than datacenters but a structural base underpinned by electrification and energy-efficiency regulation.
Pays to
- power components & materials (undisclosed) Low confidence
Purchases of power-electronics and distribution components/materials are the cost core — copper and semiconductor input swings pass into margin; suppliers undisclosed. - R&D · software (undisclosed) Low confidence
R&D in EcoStruxure and AVEVA software — the cost of building the software moat that layers recurring revenue and margin onto hardware.Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +89.4 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +76.9 |
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +59.7 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +45 |
| Planet Labs | lead2 | · | -29.3 | -43.2 | +63.6 | +388.1 | +32.1 |
| Starbucks Corp | lead2 | +11.1 | -13.2 | -1.2 | -2.5 | -5.3 | +27.4 |
| Johnson Controls | lead2 | +77.4 | -19.3 | -7.6 | +39.8 | +53 | +20 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +19.2 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +9.5 |
| Costco Wholesale | lead2 | +51.8 | -19 | +49 | +39.6 | -5.4 | +6.6 |
| Procter & Gamble | lead2 | +20.5 | -5 | -0.9 | +17.3 | -12.3 | +4.1 |
| Walmart Inc | lead2 | +2 | -0.5 | +12.9 | +74 | +24.5 | +2.6 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | -7.8 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -8 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -8.8 |
| McDonald's | lead2 | +27.8 | +0.5 | +15.1 | +0.1 | +7.9 | -9 |
| LVMH Moet Hennessy Louis Vuitton | lead2 | +46.6 | +12.7 | -1.8 | -7.3 | -20.4 | -9 |
| Recursion Pharmaceuticals | lead2 | · | -55 | +27.9 | -31.4 | -39.5 | -13 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -15.3 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -20.3 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -21.7 |
| ServiceNow | lead2 | +17.9 | -40.2 | +82 | +50.1 | -27.7 | -29.7 |
| Alphabet (Google) | lead1 | +65.3 | -39.1 | +58.3 | +36 | +66 | +14.3 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +6.3 |
| Meta Platforms | lead1 | +23.1 | -64.2 | +194.1 | +66 | +13.1 | +1.6 |
| Microsoft | lead1 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | -20 |
| Schneider Electric | node | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +13 |
YTD as of 2026-07-10 · source: Yahoo Finance
The thesis is how long Schneider can dominate the AI datacenter power-and-cooling capex cycle. It is one of few players selling the entire rack power-and-thermal stack — from switchgear to UPS (Galaxy VXL) to liquid cooling (Motivair) — and it co-developed the NVL72 reference design with NVIDIA to pre-empt the standard. Revenue is tied directly to hyperscaler capex (Microsoft, Google, Amazon, Meta), so both its upside and downside hang on their datacenter investment plans. EcoStruxure and AVEVA software layer recurring revenue onto hardware sales, buffering margins even if the capex cycle rolls over.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target €335 · Price €269.65 (07-10) · Upside +24%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Barclays · George Featherstone | Overweight | €350 | Jul 6, 2026 | Report ↗ |
| BofA Securities | Buy | €320 | Jun 11, 2026 | Report ↗ |
On the data-center electrical equipment supercycle (TAM peaking at $140bn in 2028), Barclays lifted its target to EUR 350 and BofA reiterated Buy, underpinning a strong buy consensus.