Qnity raises annual forecast on AI infrastructure demand
Qnity Electronics raised its annual outlook amid high AI demand. The firm reported first-quarter results that beat analyst estimates as its shares gained 5%.
Qnity Electronics Inc raised its annual revenue forecast to a range of $5.23 billion to $5.38 billion. The new outlook exceeds previous guidance of $4.97 billion to $5.17 billion and average analyst estimates of $5.12 billion. Surging AI infrastructure spending is driving record demand for Qnity's data center thermal management and interconnect products.
### AI Infrastructure Fuels Growth Shares in the company rose 5% in early trading following the announcement. Qnity also increased its adjusted profit forecast to between $3.80 and $4.14 per share. This compares to an earlier projection of $3.55 to $3.95 per share.
