GE Vernova CEO Scott Strazik highlights state-level pushback and tariff pressures slowing data center projects, spooking investors.
GE Vernova’s stock fell nearly 3% after CEO Scott Strazik warned of growing resistance to data center projects at a Bernstein conference. Shares dropped as much as 5% intraday before closing down 2.7%, extending losses over the following sessions to $968, below its 52-week high of $1,181.95.
Strazik cited intensifying state-level opposition and tariff pressures as key challenges for data center growth, a critical revenue driver. Customers are struggling to complete projects amid regulatory and cost hurdles, diverging from earlier market optimism.
The remarks contrasted with typical reassurances on demand, triggering a sell-off as investors recalibrated expectations for the energy technology firm’s near-term outlook.