FRANKFURT, Jan 10, 2026, 21:41 CET — The market has closed.
- Siemens shares ended Friday on an upswing, holding close to their highs for the month.
- Soluna launched a new U.S. pilot focusing on power controls for AI workloads. Fitch, meanwhile, flagged a planned withdrawal of its rating.
- Traders are now eyeing next week’s inflation figures and Siemens’ upcoming earnings as the key catalysts ahead.
Shares of Siemens Aktiengesellschaft ended Friday in Frankfurt up 0.95%, closing at 254.20 euros. (Investing)
That holds the stock close to a recent peak following a strong start to the year for German blue chips. Siemens operates in a segment sensitive to rate expectations and the industrial cycle, yet it occasionally gets caught up in the “AI spend” trade as well.
Why it matters now: European stocks have hit new peaks as investors pour into sectors tied to infrastructure, semiconductors, and power equipment. On Friday, Germany’s DAX climbed 0.50%, while the pan-European STOXX 600 added 0.4%, reaching record levels. (Trading Economics)
On Thursday, Siemens’ Smart Infrastructure unit announced a memorandum of understanding (MoU) with Soluna Holdings for a 2-megawatt pilot project at Soluna’s Project Grace site in Texas. The companies plan to test a “behind-the-meter” system, where power is consumed on site rather than fed into the grid, to handle fluctuations in demand from GPU-driven AI and high-performance workloads. “One of the biggest challenges to scaling AI technology is the amount of compute power it demands,” said Soluna CEO John Belizaire. Siemens executive Brian Dula added the pilot aims to break down “today’s roadblocks” so AI can expand “responsibly.” (Siemens Digital Industries Software)
Fitch Ratings announced on Friday it will pull Siemens AG’s ratings around Feb. 9, citing commercial reasons. This move is a coverage decision rather than a downgrade, but it remains significant for investors and lenders relying on external credit assessments. (Fitch Ratings)
The stock is hovering near its 52-week peak of 258.60 euros, significantly above its 50-day moving average of roughly 235.89 euros, per Yahoo Finance data. At these lofty levels, even minor daily fluctuations can seem compressed amid heavy positioning. (Yahoo Finance)
Siemens shares fluctuated between 249.35 and 255.55 euros on Friday, with roughly 1.0 million shares traded, according to data from Yahoo. The stock hit its weekly intraday peak at 258.60 euros on Thursday. (Yahoo Finance)
Siemens is typically lumped in with European electrification and automation firms supplying the hardware and software powering data centres and factory modernizations. Investors often point to ABB and Schneider Electric as the go-to peers when discussing capex cycles and power gear.
Still, the Soluna project remains a pilot and just an MoU — no sure bet for significant revenue. It could be a while before any orders materialize, if they come through at all. Plus, any dip in manufacturing demand or another jump in bond yields could rattle a stock already hovering near its 52-week peak.
Markets will soon get a fresh glimpse of rate expectations with the U.S. CPI report for December 2025 dropping on Jan. 13. On Jan. 19, full inflation figures for the Euro zone arrive, followed by the ECB’s policy meeting on Feb. 4-5. Siemens is eyeing its next major event with Q1 results due Feb. 12. (Bureau of Labor Statistics)
