GE Vernova stock has surged 674% since its spinoff from General Electric, driven by surging demand for its power equipment from data centers. The company's power segment saw organic orders skyrocket 134% in the second quarter, led by gas power equipment volumes, and its gas-powered equipment backlog jumped from 100 GW to 116 GW. GE Vernova secured 20 GW of new gas equipment contracts in the quarter, with agreements extending through 2031 across roughly 100 customers in 26 countries. The company is priced at around 34 times forecast 2026 earnings per share and 30 times forecast 2028 earnings per share, and it has raised its full-year revenue guidance with a $176 billion backlog.
