Siemens' stock achieves a record rise amid optimism about a recovery in demand.

Shares of the German giant Siemens AG jumped to a record level during trading in the European stock market on Thursday, after the energy company stated that the surge in energy-hungry data centers would boost demand for its transformers and network technology over the coming year.

Siemens also revised its profit expectations for this year, forecasting that revenues could rise by up to 7% in this fiscal year. Additionally, Siemens raised its earnings by 11% to €5.20 per share (about $5.48).

In terms of Siemens’ financial year ending in September, the company’s net income reached a record level of €9 billion.

For his part, Roland Busch, CEO of Siemens, stated in a speech that the ongoing prosperity in automation and artificial intelligence, along with the increasing demand and moves toward a fully electric world without carbon emissions, all present huge opportunities for all of Siemens’ services.

In trading on the Frankfurt Stock Exchange today, Siemens' share (SIE.DE) recorded a strong increase of about 5.81% or €10.4, trading near approximately €189.82, after reaching a record level in early trading at €194.