Skeleton Technologies surpasses $1B valuation with Siemens backing for US expansion

Skeleton Technologies today announced a strategic investment from Siemens, bringing Skeleton’s valuation to more than $1 billion. The investment will primarily accelerate the expansion of Skeleton’s US manufacturing footprint and R&D activities in Silicon Valley to meet growing demand from hyperscalers for AI data-centre power systems. Check out our earlier interview with  Skeleton Technologies CEO Taavi Madiberk  Global data-centre electricity consumption is expected to nearly double from around 485 TWh in 2025 to 950 TWh by 2030, according to the International Energy Agency, while electricity use by AI-focused data centres is expected to triple.  AI workloads also change how power is consumed. GPU clusters can shift between power states in milliseconds, creating rapid load swings, peaks and harmonics. Skeleton’s high-power systems address these challenges by eliminating harmonics and managing rapid power fluctuations close to the workload, delivering up to 40 per cent energy savi