GE Vernova to Power City-Sized Data Centers With Gas as AI Demand Soars [Yahoo! Finance Canada]
GE Vernova Inc. (GEV)
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Big technology companies are reserving turbines — the engines at the heart of gas-fired power plants — for their planned 5-gigawatt data center campuses, GE Vernova Chief Executive Officer Scott Strazik said Wednesday. The companies aim to get some of these massive facilities up and running as early as 2028, he said. In the last 30 days alone, GE Vernova has signed 9 gigawatts of reservations for gas turbines from customers including data center developers, Strazik said. “That's just scratching the surface to what's coming,” he said in an interview at Bloomberg News headquarters in New York. Artificial intelligence, new factories and the electrification of everything from vehicles to home heating is forecast to send power consumption soaring. That demand may be met primarily by fossil fuels, complicating major tech companies' climate goals. In the US, electricity consumption is projected to surge by almost 16% over the next five years, according to a
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