Blackrock’s 30 Most Important AI Stocks

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12. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 89

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. Following are some compelling reasons that make this company a promising investment opportunity. Firstly, in the report for the third quarter of 2024, GE Vernova orders of $9.4 billion increased 17% organically, driven by services growth of 28%, with strength across all segments and equipment growth in Power and Electrification. Revenue of $8.9 billion was up 8%, 10% organically, with growth in equipment and services. Secondly, the company launched AI-based software, Proficy, for Sustainability Insights, designed to operationalize manufacturers’ goals toward sustainability while helping maximize productivity and profitability. Moreover, the company was selected for award negotiations by the US Department of Energy’s (DOE) Hydrogen and Fuel Cell Technologies Office (HFTO), a $1 million project to develop an AI Assistant trained for safe hydrogen (H2) handling and permitting and training focused on the safety for hydrogen development.

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