When investors think about the AI trade, they often think of specialized chips, memory, critical software, or neoucloud companies. But it is increasingly becoming an electricity and power story. The enormous gigawatt-scale data centers that the hyperscalers are counting on cannot run on GPUs alone. They need turbines, substations, transmission upgrades, grid equipment, and above all, reliable power at a scale the U.S. grid was never built to deliver.
That realization has made GE Vernova (NYSE: GEV) one of the clearest derivative plays on AI infrastructure in the market, and the stock's performance reflects it. Not just in the short term, but also over the past couple of years. And it’s shown no signs of slowing down. Over the year, the stock has surged by almost 76%, vastly outperforming its sector and the market benchmark. Zooming out, it’s even more impressive, with the stock up approximately 120% over the previous 12 months.
