On August 12, GE Vernova Inc. rose 3.11% in pre-market trading, trading at approximately $1,044.42/share, with turnover of $8.73 million, extending gains from the prior session.

On the news front, the company recently announced a $166 million investment in Western Pennsylvania to create over 700 high-skilled manufacturing jobs, alongside a separate $138 million expansion plan expected to add 275 positions by 2028. At the industry level, global gas turbine orders are experiencing explosive growth, with GE Vernova's combined formal orders and slot reservations reaching 116GW, representing a 115% year-over-year surge. CEO Scott Strazik stated the company expects at least 125GW of gas equipment under contract by year-end, with production targets of 20GW annual output in Q3, scaling to 24GW by 2028 and 30GW by 2030.

The capacity expansion is underpinned by AI data center electricity demand and grid modernization tailwinds, with the company described as essentially sold out through 2030. In Q2, orders reached a record $24.2 billion with 88% organic growth, and the company raised its full-year free cash flow guidance to $11.5-$12.5 billion from a prior range of $6.5-$7.5 billion.

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