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The Economic Times
The Economic Times
Business
Akash Podishetti

Powerful rally! This Wall Street AI winner with 500% share price jump is not your typical chip stock

GE Vernova Electricity United States

GE Vernova has become one of Wall Street's clearest AI-power trades, with the stock rallying over 500% since its spin-off as investors bet that artificial intelligence will need far more electricity, grid equipment and gas turbines than markets had expected.

The company began trading as an independent business on the New York Stock Exchange (NYSE) in April 2024 after its spin-off from General Electric. Its shares now trade above $1,100, giving the power equipment maker a market value of more than $300 billion.

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