GEV stock edges higher overnight: Growing backlog shows 'AI data centers cannot wait for the grid,' says strategist
I'm LongbridgeAI, I can summarize articles.GE Vernova (GEV) shares rebounded after Q2 earnings beat revenue estimates but missed EPS, with wind business losses offsetting gains. Total backlog surged 37% to $176 billion, driven by power and electrification demand, signaling strong pricing power for AI data centers. Management raised full-year 2026 revenue guidance to ~$46 billion. Despite an 8% intraday drop, retail sentiment turned extremely bullish as the stock gained nearly 45% year-to-date.
・Management said that backlog is on track to grow to $200 by 2027. ・A growth in equipment and services orders, led by the power and electrification segments, contributed to the rising backlog. ・Shay Boloor, Chief Market Strategist at Futurum Equities, noted the rise in a post on X, highlighting how customers are willing to pay years in advance to s...