Gas turbines & grid
Siemens Energy
A gas-turbine, grid and transformer major. AI-datacenter power demand drove 194 gas-turbine sales in 2025 (up from 100), with €2B+ in grid orders from hyperscalers. A record €146B backlog (58GW). A $1B US investment (its largest grid factory worldwide in Mississippi). With GE Vernova, a generation and grid axis.
ENR.DE Updated Jul 12, 2026 3 AI consumers
Per the valuechain.wiki graph, Siemens Energy is directly linked to 2 companies (0 supply, 1 revenue, 1 investment relationships) and reaches 5 companies within two hops; the links are backed by 8 dated sources, 4 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · €39.1bn (FY2025, +15.2% comparable)
- Customer concentration · €146B backlog; 194 gas turbines; datacenter power surge. Turbines and grid surge on datacenter power.
- Segments · Gas turbines · Grid/transformers · Wind (Gamesa)
Revenue from
- Utilities · hyperscalers (turbines · grid) High confidence
Utilities and hyperscalers order gas turbines, grid and transformers — the €146B backlog pre-commits several years of revenue, and the crux is the capacity to turn it into deliveries.Mentions EN Yahoo Finance Published Nov 19, 2025: Siemens Energy Q4 FY2025 — record revenue and raised mid-term outlook (analysis)Confirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines)Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand - Digital Realty Medium confidence
Data-center REIT Digital Realty sources onsite power and grid equipment — an emblematic customer of AI-datacenter electrification demand.Confirms EN Siemens Energy Annual Report Published Nov 19, 2025: Siemens Energy Annual Report — siemens-energy resultsConfirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand - 데이터센터 그리드 인프라 (변압기·차단기) Medium confidence
Siemens Energy's Grid Technologies supplies data centers with transformers, circuit breakers and onsite power equipment, and the AI data-center boom drove FY2025 orders in this segment.Confirms EN Siemens Energy Published Nov 19, 2025: Siemens Energy FY2025 (ended Sep 2025) results — revenue EUR 39.1B (+15.2% comparable), Grid +25.4%Confirms EN Energy Connects Published Nov 1, 2025: Siemens Energy boosts outlook on turbine and datacenter demand
Pays to
- components, materials & manufacturing (undisclosed) Low confidence
Turbine and grid parts, materials and manufacturing.Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines) - capacity expansion · personnel (undisclosed) Low confidence
$1B US capacity and workforce.Confirms EN Power Engineering Published Nov 1, 2025: Siemens Energy $1B US investment (grid, turbines)
Investors
- Siemens AG (former parent, ~10% residual) High confidence· ownership 10%
After the 2020 spin-off, former parent Siemens AG holds ~10% as a financial-asset residual stake and is gradually monetizing it — a purely financial, non-controlling relationship.
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 |
|---|---|---|---|---|---|---|---|
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Amazon | lead2 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +6.3 |
| Digital Realty | lead1 | +30.7 | -41 | +39.9 | +35.9 | -10.1 | +18.2 |
| Siemens Energy | node | -35.4 | -2.7 | -27 | +314.2 | +149.9 | +5.7 |
| Siemens AG | benef1 | +12.2 | +5.1 | +20.1 | +28 | +26.4 | +8.7 |
YTD as of 2026-07-10 · source: Yahoo Finance
A prime beneficiary as AI-datacenter power demand explosively lifts the gas-turbine and grid cycle — 2025 gas-turbine sales jumped to 194 units from 100, and a record €146B backlog (58GW) effectively pre-commits several years of revenue. The profit thesis hinges on the capacity and execution to convert that backlog into deliveries, addressed by expansions like the world's largest grid factory in Mississippi ($1B). Risks are the structural weakness of wind (Gamesa) and large-project execution, and in graph terms hyperscaler/utility power orders transmit into turbine and transformer demand. Former parent Siemens AG's residual ~10% stake is a purely financial relationship being gradually monetized.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target €217 · Price €152.12 (07-10) · Upside +43%
Analyses covering this node
- Power is the next bottleneck: where the chain crosses into the clock of generation, transmission and cooling Jun 23, 2026