GE Vernova Accelerates Growth Targets as AI Power Demand Drives Record Backlog

GE Vernova (NYSE: GEV) continues its aggressive upward trajectory, with shares climbing 14.6% this week following a stellar first-quarter earnings report. The company's role as a critical provider of electrification and power solutions has positioned it as a primary beneficiary of the global build-out of AI infrastructure. CEO Scott Strazik revealed that the company added $13 billion to its total backlog in the last 90 days. This surge has allowed the firm to pull forward its growth projections, now expecting to reach a $200 billion backlog by 2027, a full year earlier than the previous 2028 estimate. Demand is particularly acute for gas power equipment. The combined backlog and Slot Reservation Agreements (SRAs)—where customers pay upfront to secure future equipment—rose to 100 gigawatts (GW), up from 83 GW. Specifically, SRAs grew from 44 GW to 56 GW, signaling a high level of urgency among hyperscalers to secure power for data centers. Beyond equipment sales, the company is leveraging a long tail of services revenue generated from its expanding installed base. Momentum remains strong into the second quarter; Strazik noted that power equipment orders booked in April alone have already exceeded the total value of orders booked throughout the entire first quarter of 2026.