Siemens Fights Tariffs With US Factory, AI Deals

Siemens AG is countering new 15% US tariffs on EU exports, which could cost up to €500 million, by opening a $220 million factory in North Carolina to build Amtrak rail cars. First-quarter results showed strong momentum, with industrial profit up 15% to €2.9 billion and a record €120 billion order backlog, prompting raised full-year earnings guidance. Despite solid fundamentals, shares trade 18% below January peaks as investors weigh tariff and currency risks. A breakthrough AI chip verification partnership with NVIDIA and a planned internal restructuring into a leaner structure add further intrigue ahead of the May 13 earnings release.