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2. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 89

GE Vernova Inc. (NYSE:GEV) is an energy equipment manufacturing firm that offers products and services essential for the generation, transmission, and storage of electricity worldwide. On January 28, Engine No. 1, Chevron U.S.A. Inc., and GE Vernova Inc. announced a partnership to build a new company that will develop scalable, reliable power solutions for US-based data centers running on U.S. natural gas. The initiative aims to launch the first multi-gigawatt-scale co-located power plant and data center during President Trump’s second term. The initial “power foundry” projects will utilize seven U.S.-made GE Vernova 7HA natural gas turbines and are anticipated to serve co-located data centers in the U.S. Southeast, Midwest, and West regions. Together, the companies will leverage the project to provide affordable, reliable energy to meet the significant demand for electricity to power U.S. data centers. The plans will deliver up to four GW, equal to powering 3-3.5 million U.S. homes. The initial in-service targeted is by the end of 2027.

“We are excited to enable the advancement of data center growth in the U.S. by supporting delivery of critical power needs to customers using innovative solutions. GE Vernova is uniquely positioned to provide the energy systems and support required to make this large-scale endeavor possible, as the leading U.S. energy manufacturer.”

– Scott Strazik, chief executive officer for GE Vernova.