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GE Vernova’s Stock Surge Fueled by AI-Driven Electricity Demand
GE Vernova’s Stock Surge Fueled by AI-Driven Electricity Demand
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BTCCSquare news:
GE Vernova has emerged as the S&P 500's second-best performer, with its stock quadrupling since April 2024. Analysts maintain bullish price targets averaging $686.68, reflecting a 10% upside from recent closes. The rally stems from AI's insatiable electricity needs—a trend CEO Scott Strazik accurately forecasted during the company's pre-launch phase.
The energy infrastructure firm reports explosive growth in gas turbine orders, now sold out through 2028 with a 55-gigawatt backlog. Quarterly orders tripled year-over-year as data center power requirements escalate. Vernova's cash reserves doubled to $8 billion in 2024, with ambitions to reach $14 billion by 2028 alongside $45 billion revenue targets.
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