GE Vernova (NYSE: GEV), spun off from General Electric in April 2024, has seen its stock surge nearly 107% over the past year, reaching an all-time high of approximately $800 as of mid-February 2026. This growth is largely fueled by the company’s critical role in powering the digital transition driven by artificial intelligence, with its Power segment alone witnessing a 77% increase in orders in Q4 2025. The backlog of gas turbines rose from 62 gigawatts (GW) to 83 GW, with an ambition to reach 100 GW by the end of 2026.
On February 2, 2026, GE Vernova completed a $5.3 billion acquisition of Prolec GE, enhancing its manufacturing capabilities and addressing the transformer supply chain bottleneck, essential for electricity transport. Revenue in the Electrification segment climbed 36% in Q4 2025 as utilities modernized aging grids. Despite facing EBITDA losses in the Wind segment due to regulatory challenges, GE Vernova generated $3.7 billion in free cash flow in 2025, enabling a doubling of its quarterly dividend to 50 cents per share.
Currently trading at a premium valuation of approximately 45 times trailing earnings, GE Vernova holds a record $150 billion backlog, providing a significant revenue cushion. As demand for electricity intensifies with the advancement of AI data centers, the company is positioned as a leader in the infrastructural requirements of this technological evolution.
