Key Points
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Amazon.com and Alphabet have announced a combined capital spending commitment of $385 billion for AI growth by 2026, significantly higher than the previous $222 billion set for 2025.
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GE Vernova (NYSE: GEV) anticipates more than doubling its earnings and achieving mid-teens revenue growth from 2025 to 2028, driven by strong demand for gas turbines and electrification equipment.
The recent commitments from Amazon and Alphabet have positively impacted investor confidence in GE Vernova, which saw its stock rise by over 5% in late trading. The company expects robust demand from data centers, allowing it to sell slot reservation agreements for future gas turbines.
