Here's Why GE Vernova Stock Popped Higher Today (Hint: It's Artificial Intelligence Related)

GE Vernova (NYSE: GEV) shares popped higher by 5.3% as of 3:30 p.m. today. The move comes as the investment thesis for AI infrastructure stocks was strengthened by reports coming from companies with heavy exposure to data center spending. As readers already know, GE Vernova's gas turbine equipment demand is booming, and its backlog is growing so high (up to $150 billion at the end of the year) that the company can sign up customers on slot reservation agreements (SRAs) whereby data center customers are willing to pay upfront to secure production slots for future gas turbines to power data centers. It's an indication of just how thirsty hyperscalers are for power for data centers that service AI-application growth. As such, when two high-profile companies (both with earlier-cycle sales than GE Vernova) report excellent updates, it's understandable that GE Vernova stock pops in sympathy. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool