SAN JOSE, Calif., Oct. 14, 2026 – Skeleton Technologies, a global leader in high-power systems for AI infrastructure, 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-center power systems.
Global data-center 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 centers is expected to triple. In the United States, data centers are projected to account for around half of electricity-demand growth through 2030.
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% energy savings and double-digit improvements in GPU performance.
Markus Grabmeier (President of Electrical Products at Siemens AG), Taavi Madiberk (CEO of Skeleton Technologies), Barry Powell (President and Regional CEO of Siemens Electrical Products)
At the core of Skeleton’s technology is its proprietary Curved Graphene material, engineered for extremely fast power delivery, high efficiency and long cell life. Skeleton combines its cells with power electronics and system-level controls to manage the rapidly changing power demands of AI clusters.
“AI is scaling faster than the power infrastructure behind it. The constraint is not how many GPUs you can buy, but how much compute you can extract from every GPU and every megawatt available,” said Taavi Madiberk, CEO of Skeleton Technologies. “In AI infrastructure, supercapacitors are becoming the new semiconductors. They will determine how much performance hyperscalers can deliver from their GPUs. Our systems remove power fluctuations as a constraint, enabling more compute faster while delivering up to 40% energy savings and double-digit improvements in GPU performance. This 9-digit investment round led by Siemens gives us the industrial scale to expand manufacturing in the United States and become the only player in our segment with a full US value chain, from cells to complete systems.”
The investment deepens a long-standing relationship between Siemens and Skeleton, with the new partnership focused primarily on AI data-center infrastructure and growing demand from hyperscalers in the United States. Siemens supported Skeleton’s expansion in 2023, while Siemens Digital Industries designed and automated the company’s Leipzig SuperFactory in Germany.
The companies will combine Siemens’ leadership in industrial electrical infrastructure with Skeleton’s fast-response power systems to develop and commercialize products for next-generation AI data centers. The partnership will address hyperscaler demand from the grid to the rack, while bringing Skeleton’s technology and manufacturing closer to its largest AI infrastructure customers in the United States.
Skeleton plans to invest more than $200 million in operational scale-up and R&D in Silicon Valley working directly with hyperscalers. The US expansion includes plans to establish domestic cell manufacturing, creating a fully integrated US value chain from cells to complete systems.
“Skeleton's portfolio perfectly complements Siemens' comprehensive data center offering. Our combined innovation roadmap will deliver benchmark solutions for the white space of next-generation data centers, delivered by a strong manufacturing network across Europe and the USA,” said Markus Grabmeier, President of Electrical Products at Siemens AG.
