GE Vernova

When GE Vernova separated from its parent in April 2024, it carried $119 billion in backlog orders and technology generating a quarter of the world's electricity. The $35 billion revenue company books $44 billion in new orders annually, yet those numbers mask a deeper story about infrastructure organisms and energy flows.

Grid infrastructure functions like a vascular system—not just moving electrons, but enabling the metabolism of entire economies. Vernova's Grid Solutions division saw 25% revenue growth in 2024, driven by $900 million in hyperscale data center orders since January 2025 (doubling 2024's full-year total). Each new AI training cluster demands 100+ megawatts, forcing utilities to upgrade transformers, switchgear, and transmission lines that Vernova manufactures.

The biological parallel runs deeper than metaphor. Power grids exhibit keystone species dynamics: remove one critical component and cascading failures ripple across the network. Vernova's equipment doesn't just sit passively in substations—it maintains homeostasis across frequency, voltage, and load balancing. When electricity demand in the US is predicted to grow 50% over 20 years, that's not just expansion, it's ecosystem engineering at continental scale.

The company invested $5.3 billion to acquire the remaining 50% of Prolec GE, its electrical equipment joint venture, closing mid-2026. It raised R&D spending 20% in 2025 and doubled internal AI investment. These aren't growth moves—they're regenerative responses to phase transitions in energy infrastructure.

Vernova's three segments (Power, Electrification, Wind) mirror specialized organs: Power generates, Electrification distributes, Wind diversifies energy sources. Wind improved EBITDA losses by nearly 50% in 2024, showing resource reallocation from failing to viable tissue. The organism survived calving but now faces the harder challenge: thriving in an ecosystem being rewired by AI, electrification, and grid modernization.