GEV Stock Edges Higher Overnight: Growing Backlog Shows 'AI Data Centers Cannot Wait For The Grid,' Says Strategist

GE Vernova’s total backlog grew to more than $176 billion in the second quarter, a 37% increase year-on-year.

• Management said that backlog is on track to grow to $200 by 2027. 
• A growth in equipment and services orders, led by the power and electrification segments, contributed to the rising backlog.
• Shay Boloor, Chief Market Strategist at Futurum Equities, noted the rise in a post on X, highlighting how customers are willing to pay years in advance to secure scarce manufacturing slots, putting the spotlight on GEV’s pricing power.

GE Vernova Inc. (GEV) shares edged higher overnight, reversing a decline of more than 8% at close, its steepest fall this year, after it reported second-quarter earnings (Q2) results on Wednesday. 

While the company topped Q2 revenue estimates and raised its full-year 2026 revenue guidance, earnings per share missed expectations. The wind business also remained a drag on the company, with wider losses, lower revenue, and a 40% drop in new orders due to permitting delays and market uncertainty.

However, a bright spot for the company was its growth in backlogs, or remaining performance obligations. 

GEV’s Backlog Soars On Higher Demand

The energy equipment and services company said its total backlog grew to more than $176 billion, a 37% year-on-year increase. Management said that backlog is on track to grow to $200 by 2027. 

A growth in equipment orders, which more than doubled, and a 15% increase in service orders contributed to the increase. Total orders grew 88%, led by the power and electrification segments.

“The long-cycle electric power industry is in the early stages of a multi-decade growth opportunity and we are well positioned to create substantial value,” CEO Scott Strazik said on the investor call. 

Shay Boloor, Chief Market Strategist at Futurum Equities, noted the rise in a post on X, highlighting how customers are willing to pay years in advance to secure scarce manufacturing slots, putting the spotlight on GEV’s pricing power.

“That backlog shows AI data centers cannot wait for the grid with gas turbines offering one of the fastest paths to dispatchable power in a market served by only three global suppliers,” he said. 

GEV Q2 Snapshot

GE Vernova reported quarterly revenue of $11.1 billion, up 22% year over year, beating Wall Street estimates, while adjusted earnings per share of $2.47 missed the consensus. 

The company also raised its full-year 2026 revenue guidance to about $46 billion from $45 billion.

GEV Stock: Retail Stance

On Stocktwits, retail sentiment around GEV stock jumped from ‘bullish’ to ‘extremely bullish’ over 24 hours as message volumes increased 590% in the same time, according to platform data. 

One user said, “$GEV sinking 8% to 990 after mixed earnings, wind losses eating into an otherwise solid backlog print. this thing ran so hard the last few months, feels like a classic buy the rumor sell the news. calling it now, no follow-through.”

View this Stocktwits post

Another user said, “$GEV Going to be a big snapback tomorrow.”

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GEV stock has gained nearly 45% so far in 2026. 

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