Top AI Play Jumps After CEO Touts This Milestone

GE Vernova Brand logo, founded as GE Energy as Equipment manufacturing power services company headquartered in Cambridge, Massachusetts

GE Vernova chief spoke on Wednesday of “strong and durable demand,” with backlog continuing to grow.

Despite widespread AI concerns, GE Vernova (GEV) expects to reach a key backlog target sooner than expected. GEV stock jumped on Wednesday. At a Morgan Stanley conference, GE Vernova CEO Scott Strazik reportedly said the company’s backlog, which ended the second quarter at $176 billion, is on track to hit $200 billion “very early” in 2027. That is earlier than…