GE Vernova shares surge as hedge funds and analysts turn bullish on AI-driven power demand; first-quarter orders rose 71% to $18.3 billion.

GE Vernova reported first-quarter orders rising 71% organically to $18.3 billion, revenue increasing 16% to $9.3 billion, and free cash flow reaching $4.8 billion. The company's backlog expanded to $163 billion, with Gas Power backlog and slot reservations reaching 100 GW, and customers reserving capacity through 2030 and 2031.

The Electrification segment booked $2.4 billion in data center equipment orders in a single quarter, surpassing the entirety of 2025's Electrification order volumes. Management views Electrification as a platform business spanning substations, transformers, grid software, storage, and energy management systems.

Pricing on new turbine orders is running 10% to 20% above late 2025 levels. The company's trailing price-to-earnings ratio stood at 30.35, while its forward P/E reached 37.04, according to Yahoo Finance. Shares were trading at $1,038.74 as of May 25th.

115 hedge fund portfolios held GEV at the end of the fourth quarter, up from 108 in the prior quarter, placing it among the 40 most popular stocks among hedge funds.