Siemens reported record quarterly figures on Thursday, yet its shares dropped 4.21 percent to 273.85 euros, a day after touching a fresh 52-week high of 291.25 euros, as investors banked profits following an AI-fueled rally. In the third quarter of fiscal 2025/26, covering April through June, order intake climbed 13 percent to 27.9 billion euros, a company record, with comparable growth of 14 percent. Revenue rose 7 percent to 20.8 billion euros, and the book-to-bill ratio was 1.34. Industrial profit jumped 25 percent to 3.5 billion euros, with the margin improving to 17.3 percent. Net income came in at 2.6 billion euros, up 15 percent year on year, while earnings per share reached 2.93 euros. Free cash flow surged 42 percent to just over 4.1 billion euros, and the order backlog set a new benchmark at 132 billion euros. Over the first nine months, Siemens booked more than 6 billion euros in orders tied to AI data centers, double the level of the comparable period a year earlier, while revenue from data center customers grew by half to 3.1 billion euros. Smart Infrastructure saw order intake jump roughly 40 percent to 8.0 billion euros, revenue advance 12 percent to 6.39 billion euros, and segment profit rise 19 percent to