GE Vernova's Backlog Is Bigger Than Some Countries' GDP. Here's What's Actually Inside the $176 Billion.

GE Vernova's backlog has reached an impressive $176 billion, making it larger than the GDP of several countries, including Kuwait, Ecuador, and Slovakia. This substantial figure reflects strong demand for the company's power equipment, particularly in the context of the AI data center boom. The backlog, tracked as the remaining performance obligation (RPO), has increased by $13 billion since the second quarter and has grown by 37% year-over-year.

This growth is attributed to a global electricity investment supercycle, providing GE Vernova with visibility into earnings well into the 2030s, which bodes well for investors.

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