Deutsche Telekom Wins Network Test and Signs AI Efficiency Pact as Munich Capacity Doubles
Published on 11/12/2026 at 14:51 | Editorial boerse-global.de
Deutsche Telekom has packed out the first construction phase of its AI factory in Munich's Tucherpark and now intends to scale the site to 20 megawatts, the Bonn-based group said. To add further NVIDIA Blackwell Ultra systems, the company is putting up just under another quarter of a billion euros. No final decision has yet been taken on extending the Bavarian commitment beyond that, according to Telekom.
The AI build-out sits alongside a fresh partnership: T-Systems and Sparxity signed a memorandum of understanding on 3 November at the Digital Summit to collaborate on energy-efficient AI chips and computing systems, covering integration and validation for deployment in Telekom data centres. The arrangement is a declaration of intent for now, with the described work still at the planning stage.
Network Test Crown Caps a Busy Stretch
Telekom also came out on top among four German network operators in the IMTEST and zafaco mobile network test, earning an overall grade of "sehr gut" and a score of 1.24. On the loyalty side, the group introduced "Magenta Wednesday" yesterday as a weekly action day within its Magenta Moments programme, offering promotions and prize draws for members.
Guidance Raised After Strong Third Quarter
The operational numbers, published on 5 November, gave the group room to lift its full-year outlook. Revenue for the third quarter of 2026 came in at EUR 31.1 billion, an organic increase of 5.5%. Adjusted EBITDA AL reached EUR 12.2 billion, up 8.0% organically. Adjusted net profit rose 12.7% to EUR 3.0 billion, while free cash flow AL edged 1.4% higher to EUR 5.7 billion.
Should investors sell immediately? Or is it worth buying Deutsche Telekom?
For the full year, management now expects around EUR 47.6 billion in adjusted EBITDA AL and roughly EUR 20.1 billion in free cash flow AL.
Payout Plan Falls Flat With Investors
Alongside the quarterly release, the board proposed a dividend of EUR 1.10 per share and announced share buybacks of up to EUR 2 billion for 2027. According to media reports, both the distributions and the repurchase programme fell short of market expectations and triggered the negative share price reaction to the results. The modestly raised annual guidance, the reports suggested, was not enough to offset disappointment over the capital returns.
One broker moved in the opposite direction: Barclays lifted its price target for Deutsche Telekom from EUR 32 to EUR 33 yesterday, media reports said, while reaffirming its "Overweight" rating on the stock.
Deutsche Telekom at a turning point? This analysis reveals what investors need to know now.
Investors will get their next set of hard numbers on 25 February 2027, when Telekom reports fourth-quarter and full-year 2026 results.
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