Company File
Gas turbines, grid equipment, offshore wind; multi-year backlog constraints are the bull case.
Plate I — Pillar-Purity Score
Grid-equipment supplier to every DC; backlog visibility.
Methodology — How we score
Plate II — The Thesis
Why it’s on the list.
Spun from GE in 2024, Vernova sells the gas turbines, transformers, and grid gear that every DC buildout needs. The bull case is that backlog and lead times exceed three years — meaning 2026–2029 revenue is already contracted.
Plate III — Supply Chain
Upstream & downstream.
See the full chain plate for all 37 names.
Upstream — what feeds GEV
Top of chain within our coverage.
Downstream — where GEV feeds into
Plate IV — Thesis Breakers
What would invalidate this.
- Risk 01Offshore wind cost blowouts
- Risk 02Turbine quality issues
Plate V — Also on the Power plate
Siblings by pillar.
- TLNScore 10Owns the Susquehanna nuclear and Cumulus data-center campus feeding AWS; post-bankruptcy compound.
- CEGScore 9Largest US nuclear fleet; Three Mile Island restart for Microsoft — the purest nuclear-for-AI trade.
- VSTScore 8Texas nuclear + gas generation signing hyperscaler PPAs; recent top-performing S&P utility.
- OKLOScore 8Small modular reactor pre-revenue moonshot; Sam Altman-chaired — speculative but on-thesis.
- CCJScore 7Largest Western uranium miner; tier-one fuel supplier to the nuclear renaissance.
Close
Next earnings: 2026-04-23.
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