How did GE Vernova become one of Wall Street’s energy darlings? (Semafor)
Since spinning off in 2024, the company’s stock has quadrupled, pushing its market cap to nearly $200B—higher than the market value of the entire GE conglomerate before leadership announced plans to break it into three parts in 2021.
CEO Scott Strazik attributes the surge to shedding the conglomerate tax—it’s no longer siphoning power profits to fix jet engines or MRI machines, meaning it can reinvest strictly at the "point of impact" for the grid.