Microsoft buys seven GE Vernova turbines for Texas data center with Chevron
Speakers
Seema Mody
— Technology and Global Markets Correspondent, CNBC
Summary
CNBC's Seema Mody reports from GE Vernova's South Carolina gas turbine plant on surging demand from data centers. Turbine prices have tripled, and Microsoft recently ordered seven units with Chevron for a Texas data center. AI accounts for only 20% of the order book, signaling significant growth runway.
- GE Vernova shares up 60% in 2024 on data center demand.
- Gas turbine prices have risen 300% to $250–300 million per unit.
- Microsoft bought seven turbines with Chevron for a Texas data center project.
- Data center developers are increasingly buying standalone power assets to bypass grid bottlenecks.
- AI currently represents only 20% of GE's gas turbine order book.
- Executives from major AI firms are spending more time at the factory, signalling deepening energy infrastructure focus.
Ideas
GE Vernova benefits from AI power demand.
The cost of GE Vernova gas turbines has risen 300%, and demand is building as data center developers seek standalone power to bypass grid bottlenecks. AI currently accounts for only 20% of GE's gas turbine order book, leaving significant room for growth as AI companies invest heavily in energy infrastructure. This positions GE Vernova for continued strong demand and pricing power.
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This CNBC video, published June 24, 2026, features Seema Mody discussing GEV. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Seema Mody · Tickers: GEV