GE Vernova Soars as Quarterly Orders Topped All of Last Year

GE Vernova Inc., one of the world’s only makers of big natural-gas turbines, soared the most in intraday trading since mid-December after its electrification unit sold more grid equipment, including substations and transformers, to data center customers in the first quarter than all of last year.

Even as doubts creep in about the scale of the boom in artificial intelligence, there’s still big demand from data centers for new electric capacity, especially from natural gas. BloombergNEF estimates the US has 106 gigawatts of new data-center-driven demand by 2035.