Prysmian confirms 2026 targets and hints at AI deals
The Italian cable maker confirmed its 2026 core profit guidance despite a Q1 earnings miss. Management expects upcoming AI hyperscaler deals to drive growth.
PRYSMIAN SPA confirmed its 2026 guidance and signaled imminent contracts with artificial intelligence hyperscalers despite missing first-quarter profit estimates. The Italy-based cable manufacturer expects core profit between €2.63B and €2.78B for the 2026 fiscal year. Investors are weighing the company's expansion into data center infrastructure against a €36M headwind from foreign exchange volatility.
### Hyperscale Demand Drives Data Center Pivot PRYSMIAN SPA is currently negotiating long-term agreements to supply internal data center infrastructure. CEO Massimo Battaini stated during a media call that the group is nearing finalized deals with major hyperscale providers to support future growth.
