GE Vernova sees 71% order growth and $163B backlog, driven by AI power demand and grid electrification.

GE Vernova Inc. reported a 71% year-over-year increase in orders and a record $163 billion backlog in Q1 2026, fueled by rising demand for power infrastructure supporting AI technology. The company's strong pricing power and reserved hardware capacity through 2030 position it well for long-term growth. Recent acquisitions and $7.1 billion in electrification orders further strengthen its strategic role in the power grid sector. Despite a Buy rating and a $1,338 price target, investors should be cautious as the stock is priced for perfection, leaving little margin for error.