# GE Vernova A power generation, wind, and electrification company spun off from General Electric on April 2, 2024. Headquartered in Cambridge, Massachusetts, GE Vernova trades on the NYSE under GEV. CEO Scott Strazik leads a company with approximately $35 billion in 2024 revenue and three operating segments: Power, Wind, and Electrification. GE Vernova is the dominant supplier of gas turbines globally, with an installed base of more than 7,000 units. Its HA-class gas turbines are the workhorses for new gas-fired generation being built to power AI data centers, and its Electrification segment produces the transformers, switchgear, and HVDC systems that connect those plants to the grid. ## Gas Turbine Backlog Data center power demand has driven GE Vernova's gas turbine backlog to unprecedented levels. The backlog reached 100 GW in Q1 2026 after 21 GW of new orders, then climbed to 116 GW by the end of Q2 2026. The company expects to exceed 125 GW under contract by year-end 2026, with turbine slots sold out through 2030. Total company backlog stood at $176 billion as of Q2 2026. ## Data Center Revenue Orders from data center customers reached $2.4 billion in the Electrification segment in Q1 2026 alone — exceeding the full prior year. Through Q2 2026, data center-related orders topped $5 billion year-to-date. GE Vernova is scaling production from 20 GW of annual gas turbine output in 2026 toward 24 GW in 2028 and 30 GW by 2030. ## Wind Segment The Wind segment, which includes onshore and offshore wind turbines, has been in turnaround mode. Wind improved EBITDA losses by nearly 50 percent in 2024, with onshore achieving high-single-digit margins. The segment remains a smaller and less profitable piece of the portfolio relative to the gas turbine and grid businesses. ## KB Relevance GE Vernova is arguably the single most critical equipment supplier for the AI power buildout tracked in [[The Quest for 90 Gigawatts]]. Every new gas-fired plant needs turbines, and nearly every grid expansion needs transformers and switchgear — GE Vernova is the dominant provider of both. Its backlog is the clearest quantitative signal of how much new generation capacity is being committed for [[Artificial Intelligence]] data centers. ## See Also - [[Lancium]] - [[The Quest for 90 Gigawatts]] - [[Artificial Intelligence]] - [[Energy Sector]]