By David Sachs

Siemens will invest $150 million in a Texas electrical equipment plant.

The German industrial company said Friday that the Dallas-area factory will produce equipment to help power U.S. data centers, whose growth is being driven by the adoption of generative artificial intelligence. The products will also be used for critical electric infrastructure in the U.S., Siemens said.

The investment is part of a 2 billion euros ($2.12 billion) global investment strategy, Siemens said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

November 03, 2023 08:44 ET (12:44 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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