Gas Turbine And Grid Backlog Powers GE Vernova (GEV)

Barometer Capital Management, a wealth management firm, detailed GE Vernova Inc. in its second-quarter 2026 investor letter. The company, which generates, transfers, orchestrates, converts, and stores electricity, saw its shares close at $951.04 per share, with a market capitalization of $253.29 billion. Despite a one-month return of -9.37%, GE Vernova's shares experienced a 52-week gain of 49.97%.

The firm praised GE Vernova for its gas turbine and grid backlog, driven by the ongoing multi-year infrastructure build-out due to rising power demand from data centers and electrification efforts. However, Barometer Capital Management noted that the hedge fund's interest in GE Vernova decreased from 118 to 106 holdings by the end of the second quarter.

While the company's potential is acknowledged, Barometer Capital Management believes AI stocks offer greater upside potential with less downside risk.