Technology companies are purchasing GE Vernova gas turbines to power artificial intelligence data centers as utility grids struggle to keep up with demand.
This has created a major manufacturing backlog and driven a stock surge as of June 2026.
Hyperscalers including Amazon, Google, Microsoft, and Oracle are turning to standalone power sources to meet the immense computational needs of AI infrastructure.
CNBC reported that GE Vernova's order book at its Greenville, South Carolina plant is fully booked through 2029, with some orders extending to 2031.
The massive 280-ton turbines generate substantial electricity to sustain standalone data facilities when local utility grids cannot keep pace.
According to market analysts from Melius, intense global demand has caused individual turbine prices to surge by approximately 300 percent over the last three years.
Industry estimates place single units above $250 million.
"Right now, when you need power at scale and you need firm power, the industrial gas turbine is one of the leading solutions for that," said Pablo Koziner, Chief Commercial and Operations Officer at GE Vernova.
The company expanded its facility workforce by hiring 200 employees last year and plans to add 300 more workers by the end of December 2026 to accelerate production.
Major technology operators have already integrated these systems, including Microsoft purchasing seven turbines for a Texas data center and Elon Musk's xAI deploying them at its Colossus 1 campus in Tennessee.
"When we think of what the world needs for electrification and what we need to power this AI surge that we're living, a lot of that stuff comes right out of this factory," said Koziner.
The commercial momentum has lifted GE Vernova shares by nearly 60 percent over the past six months, outperforming the broader S&P 500 utilities sector.
Competitors such as Caterpillar Inc., Siemens, and Mitsubishi are experiencing similar market gains as tech spending capital expenditures continue rising.
"Today, about 20% of our gas power order book is going to a data center, artificial intelligence-type of application," said Koziner.
Despite the infrastructure boom, data center expansions face localized public opposition and environmental scrutiny over heavy energy consumption.
A Gallup report highlighted growing civic pushback regarding local data center power allocations and potential environmental impacts.
"We also put a lot of time and effort into the sustainability of these machines," said Koziner.
The manufacturer continues engineering design updates to improve emissions performance and mitigate regulatory friction.
"And the turbine that you're looking at here is two times more efficient than a turbine that we would have produced 20 years ago," said Koziner.
Beyond the tech sector, GE Vernova recently secured international infrastructure contracts to supply hardware for the Quang Trach II LNG Power Plant in Vietnam and signed a grid modernization agreement with Venezuela's state-owned utility.
