Legrand Saw ‘Outstanding’ Data Center Growth Amid AI Boom (1)

Legrand SA’s first-quarter sales surpassed expectations as the artificial intelligence boom led to “outstanding” growth for data centers.

The French industrial company reported organic sales growth of 7.6%, ahead of estimates of 5.1%, it said in a statement on Wednesday. Sales rose 20% in the US, “driven by the outstanding performance of our dedicated datacenter offerings,” the company said.

“The demand is super strong and all indicators are green” for the end-market, which accounts for between 20% and 25% of sales, Chief Executive Officer Benoit Coquart said in an interview. That helped offset the “sluggish” European residential and US ...