GE Vernova makes and services equipment for the electric power industry. The company was spun out of General Electric in April 2024 and operates across the full electricity value chain — from generation to transmission to distribution. GE Vernova's technology generates roughly 25% of the world's electricity, anchored by an installed base of approximately 7,000 gas turbines globally. The company operates three segments: Power (~40% of revenue), Electrification (~30%), and Wind (~30%). Gas Power is the most commercially important business — GE Vernova designs, manufactures, and services gas turbines, with its flagship HA-class turbine being the world's largest heavy-duty gas turbine. The Electrification segment sells high-voltage grid equipment including transformers, switchgear, and HVDC systems; this segment is growing rapidly as grids worldwide are upgraded to handle rising electricity demand. The Wind segment covers onshore and offshore wind turbines; onshore has reached modest profitability, but offshore has been deeply loss-making, and GE Vernova plans to add no new offshore wind backlog. GE Vernova makes money two ways: selling capital equipment and providing long-term services on that equipment. Services represent over 60% of GE Vernova's $150B total backlog, carry higher margins than equipment sales, and grow as the installed base expands. GE Vernova's growth strategy is centered on expanding gas turbine production capacity, scaling grid equipment output, and pursuing a long-term nuclear opportunity through its BWRX-300 small modular reactor program.