Vernova (NYSE: GEV) manufactures equipment such as wind turbines and natural gas turbines for the energy industry. And according to the International Energy Agency (IEA), global electricity demand has increased: 4.3% in 2024, an acceleration from its 2.5% increase in 2023.
A big driver of that trend is the tech sector’s ambitious construction of artificial intelligence (AI) data centers. The IEA reported that data centers consumed about 1.5% of the world’s total electricity in 2024. Most tellingly, the amount of electricity they demand increased at an annualized rate of 12% between 2020 and 2024.
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GE Vernova’s offerings position it perfectly to capitalize on the growing demand for electricity and network solutions, and not just data centers. Shares have risen about 109% in the past year and more than 470% since the company was spun off from General Electric in spring 2024.
Below are some reasons why GE Vernova could be a good stock to buy for today’s AI energy trading and for the long-term future of the global energy sector.
On January 28, GE Vernova reported blockbuster fourth-quarter earnings of $13.39 per share, beating analyst expectations by more than $10 per share. Part of that outperformance was a result of the company’s growing sales to data centers.
During the fourth-quarter earnings call, CEO Scott Strazik said he is seeing strong demand for data center equipment, primarily in the U.S. market. He also noted that the company signed more than $2 billion in orders directly for data centers in 2025, more than tripling its total in that segment from the previous year.
If AI data centers continue to be built at the current aggressive pace, GE Vernova likely has a bright future. Deloitte research estimates that by 2035, in the US alone, total energy demand from AI data centers could grow by more than 3,000%.
However, this company is more than just an AI energy story. Its revenue rose 9% to $38.1 billion in 2025, but only $2 billion of that came from direct data center orders. More than half ($19.8 billion) came from its power segment, led by strong demand for equipment and growth in services for the natural gas power market.
According to the IEA, global natural gas demand rose 2.7% in 2024 to reach an all-time high, and rose another 1% in 2025. The IEA forecasts global gas demand growth of 2% in 2026, with stronger growth in emerging markets.