GE Vernova reports $176 billion backlog and 21.8% revenue growth, driven by AI-driven data center demand.
GE Vernova posted Q2 revenue of $11.10 billion, a 21.8% year-over-year increase, with a $176 billion backlog. Data center orders contributed $2.7 billion, while electrification revenue surged 68%. The company expects to deliver 20 GW of annual gas turbine output by Q3 2026, scaling to 30 GW by 2030.
NextEra Energy reported adjusted EPS of $1.15, up 9.5%, marking its fifth consecutive earnings beat. Revenue of $7.53 billion missed estimates by 7.58%, though net income rose 55% to $3.14 billion. The company’s Duane Arnold nuclear restart, backed by a 25-year Google PPA, targets Q1 2029 to support long-term AI power demand.
Both companies are positioned to capitalize on AI-driven energy needs, with GE Vernova supplying critical infrastructure and NextEra providing utility-scale power solutions.