Shares of industrial and transportation companies rose as bellwethers like GE Vernova report strong order backlogs of equipment used to generate power for AI data centers.

GE Vernova has surged over 500% since its 2024 spin-off, emerging as a key AI infrastructure play. Investors are betting on rising electricity demand from data centres, boosting…

GE Vernova raised its full-year revenue forecast on Wednesday after another quarter of booming demand for gas turbines, grid equipment and AI-driven electricity infrastructure.