Schneider Electric to buy AI software firm Cognite for $3.1 billion

Schneider Electric announced a cash acquisition of US software maker Cognite for $3.1 billion. Cognite, based in Tempe, Arizona, employs about 800 staff and generated over $170 million in revenue last year. Schneider plans to integrate Cognite with its Aveva industrial software platform to strengthen AI-driven automation in factories, a move mirrored by competitors such as Siemens. The announcement sent Schneider’s shares down roughly 2–3% in Paris.

In parallel, a German‑Danish industrial consortium comprising hp‑TECHNIK GmbH and the Danfoss Group injected a seven‑figure capital increase into the startup embraceable Technology. The funding is aimed at accelerating the development of cognitive systems—autonomous software architectures designed to overcome the limits of generative AI by reducing compute load while improving reliability. Early adopters include RWE, and the technology targets sectors such as industrial engineering, energy, finance and defence.