GE Vernova sees rising interest amid surging AI power demand

GE Vernova Inc. is seeing significant attention from analysts and investors amid surging power demand driven by artificial intelligence. The company recently reported second-quarter revenue of $11.1 billion, a 22% year-over-year increase, supported by a massive $176 billion backlog driven by utility demand for gas power equipment.

Financial analysts have provided mixed but generally positive outlooks. While Wall Street Zen recently lowered its rating from “buy” to “hold,” several other firms including TD Cowen, Sanford C. Bernstein, and Royal Bank of Canada have raised their price targets, with some maintaining “outperform” or “buy” ratings. The stock recently saw a 3% trading increase, reaching highs near $974.20.

In contrast to GE Vernova’s commercial scale, NuScale Power Corporation has faced challenges. Despite interest in modular nuclear technology, NuScale reported second-quarter revenue of just $75,000, a sharp decline from $8.1 million in the same period last year. Analysts note the inherent difficulties in the construction of nuclear power plants compared to more established energy solutions.