Kuehne+Nagel said it sees double‑digit growth in its technology and data‑center logistics segment through at least 2029. The outlook is based on increased demand from major technology firms that are expanding AI infrastructure. Chief Executive Stefan Paul noted that customers have provided sufficient visibility on equipment requirements to support demand forecasts for 2027‑2029.
AI‑related goods accounted for roughly 15% of global commerce in 2025 after export volumes reached $3.8 trillion, rising to about 20% in 2026, according to Bloomberg data. Six of the so‑called “Magnificent Seven” technology companies are already customers of Kuehne+Nagel, and large cloud operators are seeking services beyond basic transport, including vendor management, customs clearance and direct‑to‑site delivery for data‑center equipment.
The company highlighted a new seven‑year logistics agreement with Amazon. The existing relationship generates hundreds of millions of dollars in revenue, with the potential to grow into the billions. The contract includes volume‑milestone incentives that allow Amazon to receive Kuehne+Nagel shares or cash, but the maximum value of these incentives is capped at less than 3% of Kuehne+Nagel’s market capitalisation prior to the agreement. To manage exposure, Kuehne+Nagel has hedged the economic value of the share‑call options at a cost of several million dollars per quarter.
Kuehne+Nagel’s shares have risen more than 30% in 2026, reflecting investor optimism about the AI‑driven logistics opportunity. The firm also announced a partnership with Chinese battery maker Contemporary Amperex Technology Co. (CATL) and noted that rival DHL is expanding its own data‑center logistics operations.
The company’s guidance underscores the broader trend of AI‑related trade expanding rapidly, with AI‑related goods representing a growing share of global commerce. Kuehne+Nagel expects its logistics capabilities to capture a significant portion of this growth, leveraging its global network and specialized services for high‑value technology equipment.
