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In Good Company
GE Vernova’s riding geopolitics and AI for a spectacular surge
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GE Vernova’s CEO Scott Strazik says that South-east Asia is a promising market for electricity generation as the investment super-cycle kicks off and GEV is prepared.
ST PHOTO: JASON QUAH
Consider this: In November 2021, when General Electric chief executive Larry Culp announced he was splitting America’s best-known engineering firm into three – GE Aerospace, GE Healthcare Technologies and GE Vernova – the combined entity had a market valuation of about US$119 billion (S$151.5 billion).
Today, GE Vernova alone has a valuation of about US$285 billion, much of it on the back of a near 180 per cent share price spurt in the past year – outpacing artificial intelligence-related stocks such as Nvidia and Palantir. Investors who bought GE Vernova’s shares on April 2, 2024, the day it began trading on the New York Stock Exchange with an opening price of US$142, could sell them today at US$1,063.
