GEV's stronger guidance, backlog growth and AI-driven power demand give it the edge despite FLNC's cheaper valuation and data-center tailwinds.

Power-production solutions provider GE Vernova is experiencing tremendous growth due to the ongoing proliferation of AI data centers. The company's shares already reflect most -- if not all -- of the immediate opportunity.

Time to upgrade GE Vernova to Buy, as the thesis is supported by robust backlog growth and strong demand from AI-driven data center expansion. GEV's $176B backlog provides multi-year revenue visibility, with execution risks primarily still the main bugbear. Forward earnings multiple at 46x remains a premium, justified if GEV successfully converts backlog and sustains margin expansion toward 25% by decade's end.

AI's biggest bottleneck could be an industrial opportunity.

Modern data centers powered by advanced Nvidia chips require significantly more power compared to traditional setups. Technology companies have signed some major long-term power purchase agreements with independent power producers.

The 2026-so-far story in industrial machinery has been about who owns the electrification stack.

Shares of behind-the-meter power names are selling off in unison at midday Tuesday.

JANESVILLE, Wis., Aug. 18, 2026 /PRNewswire/ -- As U.S. nuclear fuel recycling moves toward commercial reality, SHINE, a fusion energy company with a platform serving the nuclear fuel recycling market, is working with GE Vernova on a project to develop a modernized and more efficient system to track spent fuel throughout the recycling process.

GE Vernova's Power and Electrification businesses are firing on all cylinders. Its Wind business is still its weakest link.

GEV's $176 billion backlog and surging orders highlight rising demand for power and grid technologies, supporting stronger growth visibility.