13 AI News That Broke the Internet

6. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 89

GE Vernova Inc. (NYSE:GEV) provides a range of energy solutions, including gas, nuclear, and wind technologies, along with grid, solar, and storage systems. The company focuses on electrification and power conversion, offering solutions to support the growing demand for electricity driven by AI and other technologies.

GE Vernova (NYSE:GEV) has signed multiple contracts for natural gas turbines to power large data centers, with plans for 5-gigawatt campuses expected to begin operating by 2028, as reported by Bloomberg on December 12. In the past month alone, the company secured 9 gigawatts of turbine reservations from data center and power plant developers.

The growing demand for electricity, driven by AI and other technologies, is forecast to significantly increase U.S. power consumption, and fossil fuels, especially natural gas, are expected to play a major role in meeting this demand. GE Vernova is also planning to integrate carbon capture technology at its facilities in the coming decade to reduce emissions.