ArcelorMittal S.A. MT has announced a collaboration with Amazon Web Services (“AWS”) to accelerate industrial automation across its global operations through advanced cloud computing, artificial intelligence (AI) and edge technologies.
ArcelorMittal will integrate AWS cloud and AI capabilities into its manufacturing processes to improve safety, asset reliability and energy efficiency. The steelmaker plans to converge portions of its operational technology (OT) and information technology (IT) infrastructure on AWS's secure and scalable platform, extending cloud and AI capabilities directly to production environments.
ArcelorMittal will use AWS services for industrial IoT, real-time data and machine learning to deploy AI-driven applications, including predictive maintenance, quality control, process optimization and digital twins. AWS will also provide training programs to strengthen digital and AI skills across ArcelorMittal's workforce.
Amazon has signed a multi-year agreement with ArcelorMittal to source structural steel across Europe and the U.K. ArcelorMittal will supply lower-carbon XCarb steel for Amazon facilities and AWS data centers, supporting Amazon's goal of achieving net-zero carbon emissions by 2040.
Per AWS, ArcelorMittal is transforming steelmaking through initiatives ranging from predictive maintenance and AI-driven energy optimization to safer and more efficient operations across sites in 14 countries.
Per MT, the next phase of digital transformation in steelmaking lies on the plant floor. He noted that integrating cloud and AI directly into production processes will enable plants to sense, learn and optimize operations in real time, resulting in safer workplaces, more reliable output and more sustainable operations while industrializing AI across the steelmaking value chain.
Shares of MT popped 107.6% in the past year compared with the industry’s 83.1% rise.
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MT’s Zacks Rank & Key Picks
MT currently carries a Zacks Rank of #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Nucor Corporation NUE, L.B. Foster Company FSTR and Albemarle Corporation ALB. NUE, FSTR and ALB carry a Zacks Rank of #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NUE’s current-year earnings stands at $15.68 per share, implying a 103.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average surprise being 8.1%.
The Zacks Consensus Estimate for FSTR’s current-year earnings is pegged at $1.74 per share, implying a 152.2% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed thrice, with the average surprise being 3.62%.
The Zacks Consensus Estimate for ALB’s current-year earnings is pegged at $12.39 per share, indicating a 1,668.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with the average surprise being 74.5%.
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This article originally published on Zacks Investment Research (zacks.com).
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