Which companies are buying GE Vernova gas turbines?

Microsoft recently bought seven turbines for its Texas data center project (2.7 gigawatts total capacity), and executives from every hyperscaler, including OpenAI's head of power, have visited the plant to vet output. The order book extends through 2029 to 2031.

What is GE Vernova's revenue guidance for 2026?

Management raised 2026 guidance to $44.5 to $45.5 billion（約7.3兆円） in revenue, 12% to 14% adjusted EBITDA margin, and $6.5 to $7.5 billion（約1.2兆円） in free cash flow.

What are the main risks to GE Vernova's stock outlook?

The stock's five-year return of 691.87% leaves little room for execution slips, the Wind segment is still guided to roughly $400 million（約640億円） in EBITDA losses in 2026, and demand visibility past 2031 thins as small modular reactors and other nuclear options come online.

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Top Companies' AI Moves

Gas turbine prices surge 300% in three years as AI data centers compete for power, making GE Vernova's sold-out backlog through 2029 a potential long-term bet despite a stock that has already more than doubled.

Top Companies AI — US (1/2)4h ago6 min read

Key takeaway

Gas turbine prices have risen roughly 300% over three years as AI hyperscalers compete for power infrastructure, and GE Vernova's order book is now sold out through 2029, extending into 2031. The company reported $18.30 billion（約2.9兆円） in Q1 2026 orders (up 71% organically) and raised full-year 2026 revenue guidance to $44.5 to $45.5 billion（約7.3兆円）, backed by validated demand from Microsoft, OpenAI, and other major cloud providers. Although the stock has already doubled over one year and trades at 40x forward earnings, analysts remain bullish, citing a multi-year sold-out backlog and demonstrated pricing power—though execution risk and declining demand visibility past 2031 remain concerns.

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3 Key Points

What happened
Gas turbine pricing has risen roughly 300% over the last three years, with GE Vernova's order book sold out through 2029 and extending to 2031. In Q1 2026, the company reported $9.30 billion（約1.5兆円） in revenue (up 15.8% year over year) and $18.30 billion（約2.9兆円） in orders (up 71% organically), with management raising 2026 guidance to $44.5 to $45.5 billion（約7.3兆円） in revenue.
Why it matters
Power generation has become the bottleneck in AI infrastructure buildout. Hyperscalers (large cloud providers) including Microsoft, OpenAI, and others are buying GE Vernova turbines in fleets—Microsoft alone purchased seven turbines for a 2.7 gigawatt Texas data center project. This demonstrates validated demand from every major AI buyer, and natural gas remains the cheapest deployable option for AI campuses awaiting grid connection.
What to watch
GE Vernova shares trade at $1,066.01 as of June 24, 2026, with a market cap near $303 billion（約48兆円） and analyst sentiment skewed positive (6 Strong Buy, 23 Buy, 7 Hold ratings). The stock is up 58.65% year to date and 107.6% over one year. The key risk is whether execution through 2029 can support a valuation at 40x forward earnings, and whether demand visibility past 2031 remains solid as small modular reactors come online.

FAQ

Which companies are buying GE Vernova gas turbines?: Microsoft recently bought seven turbines for its Texas data center project (2.7 gigawatts total capacity), and executives from every hyperscaler, including OpenAI's head of power, have visited the plant to vet output. The order book extends through 2029 to 2031.
What is GE Vernova's revenue guidance for 2026?: Management raised 2026 guidance to $44.5 to $45.5 billion（約7.3兆円） in revenue, 12% to 14% adjusted EBITDA margin, and $6.5 to $7.5 billion（約1.2兆円） in free cash flow.
What are the main risks to GE Vernova's stock outlook?: The stock's five-year return of 691.87% leaves little room for execution slips, the Wind segment is still guided to roughly $400 million（約640億円） in EBITDA losses in 2026, and demand visibility past 2031 thins as small modular reactors and other nuclear options come online.

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Gas turbine prices surge 300% in three years as AI data centers compete for power, making GE Vernova's sold-out backlog through 2029 a potential long-term bet despite a stock that has already more than doubled.

Key takeaway

3 Key Points

FAQ

Discussion

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OpenAI unveils its first custom chip, Jalapeño, made with Broadcom to reduce reliance on Nvidia and handle surging demand for AI inference.

Four business leaders at a TIME100 panel in Cannes discussed how AI is reshaping creative work, arguing that success requires both human creativity and AI tools working together, while warning that workers must continuously learn and adapt.

Home Depot is building out AI tools across customer service and delivery—backed by a newly rebuilt tech leadership team focused on three core business priorities.

A Walmart logistics manager built an AI tool to help truck drivers get home faster by finding better loads on their routes, saving both time and empty-mile costs.

Eli Lilly invests $40 million（約64億円） in Absci, a startup developing hair growth medication, signaling Big Pharma's push beyond weight loss drugs into aesthetic treatments.

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Stay ahead with AI news