33 Most Important AI Companies You Should Pay Attention To

26. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 18

YTD Return as of August 1: 32%

GE Vernova Inc. (NYSE:GEV) is an energy company that engages in the provision of various products and services that generate, transfer, orchestrate, convert, and store electricity. There has been an increase in demand for electricity as hyperscalers build AI data centers to power their AI software offerings. GE Vernova, as one of the foremost power firms in the US, is in a good position to take advantage of this boom. The company is also using AI to manage power more efficiently, recently releasing AI-powered autonomous inspection software designed to transform energy asset inspections.

Scott Strazik, the CEO of GE Vernova Inc. (NYSE:GEV), said during the first quarter earnings call that macro trends were continuing to create meaningful opportunities for the company to lead in energy transition. He noted that there was increasing demand for power generation driven by manufacturing growth, industrial electrification, and emerging AI data center needs. He added that there was a significant need for grid infrastructure investments to support both energy security and reliability goals.