Siemens raised its fiscal-year smart infrastructure outlook after the division won large contracts from data-center customers in the U.S. and Europe, boosting third-quarter profit and orders. The German industrial giant said Thursday that it now targets comparable revenue growth at the smart infrastructure division of between 10% and 11%, up from the previous range of 8% to 10%.

A sharp increase at the smart infrastructure division lifted group orders 14%. The profit margin is now expected to land between 18.5% and 19.5% compared with the previous target range of 18% to 19%. The division produces electrical and grid equipment that is in high demand as companies race to build infrastructure to support the artificial intelligence era.

The group also raised its earnings per share purchase-price allocation guidance to between 11.20 and 11.50 euros from 10.70 to 11.10 euros previously.