GE Vernova Inc. (GEV)

GE Vernova is one of the world's largest power generation and grid equipment companies, spun off from General Electric in April 2024. The company manufactures gas turbines, wind turbines, grid solutions (transformers, switchgear, substations), and power conversion equipment that collectively generate and deliver approximately one-third of the world's electricity. The explosive growth of AI data centers has created an unprecedented surge in power demand — a single large AI training cluster can consume 100+ megawatts, equivalent to powering a small city. GE Vernova's gas turbines and grid infrastructure equipment are critical to meeting this demand.

The AI power demand thesis has transformed GE Vernova from a steady industrial company into an AI-adjacent growth story. Hyperscalers including Amazon, Microsoft, Google, and Meta are racing to secure power generation capacity for new AI data centers, driving a multi-year order boom for gas turbines, grid transformers, and electrical infrastructure. GE Vernova's HA-class gas turbines are the most efficient heavy-duty turbines in the world, and order backlogs have surged as utilities and data center operators scramble to add generation capacity. The company's grid solutions segment is equally critical — the US electrical grid requires an estimated $2+ trillion in upgrades over the next decade to handle AI-driven load growth, electrification, and renewable integration.