GE Vernova Stock Quadruples Amid AI Energy Surge

- Stock up over 300% since April 2024 debut, becoming a top S&P 500 performer. - AI-driven electricity demand fuels growth in gas turbine and grid equipment sectors. Since separating from General Electric in April 2024, GE Vernova has surged onto the S&P 500 leaderboard as the company benefits from record-breaking electricity demand driven by artificial intelligence applications. On September 21, 2025, Cryptopolitan reported the company's stock skyrocketed over 300% since its New York Stock Exchange debut, making it the index's second-best performer. Several critical drivers underpin GE Vernova’s meteoric rise. The company is experiencing such high demand for its gas turbines and grid equipment that both sectors are sold out through 2028, leading to unprecedented backlogs. By June 2025, the gas turbine business reported a 55-gigawatt backlog, and to meet this demand, GE Vernova plans to increase production from 48 heavy-duty gas turbines in 2024 to 80 annually by 2026. Its grid equipment division also recorded a $24 billion backlog in Q2 2025, a nearly 40% increase year-over-year, while the company projects orders from data centers alone will hit $1 billion by the end of 2025. GE Vernova’s financial health has also strengthened significantly. The company doubled its cash reserves to $8 billion by the end of 2024 and projects further growth to $14 billion by 2028. Revenue forecasts also show a steady climb, rising from $35 billion in 2024 to an expected $45 billion by 2028. Nuclear energy is another pillar of GE Vernova's growth strategy. The company aims to add five gigawatts of nuclear power in the U.S. by restarting inactive plants and upgrading current reactors. In addition, the company is constructing small modular reactors (SMRs), a segment it projects will generate over $2 billion in annual revenue by the mid-2030s. However, GE Vernova’s wind energy division faces significant setbacks. Despite the company's success in other areas, the wind sector reported a $588 million loss in 2024. Challenges include high interest rates, regulatory hurdles, and production issues with turbine blades that cost $700 million. As a result, GE Vernova has indicated it will avoid new large-scale offshore wind projects unless economic conditions improve. Additionally, the company expects onshore wind revenue to decline by 15% in 2026.