Core Insights - GE Vernova has agreed to acquire the remaining 50% stake in transformer manufacturer Prolec GE for approximately $5.3 billion, driven by the surge in demand for power industry products and services due to the current AI boom [1][2] - The acquisition aligns with GE Vernova's priorities, allowing for increased investment in North America and expansion of services to large-scale enterprises constructing data centers [1] - Data centers are projected to consume about 4.4% of global electricity by 2035, ranking fourth in electricity consumption after China, the United States, and India [1] Company Performance - GE Vernova, which spun off from General Electric, has benefited significantly from the current power surge, with its gas turbine business performing strongly and the company's stock price increasing by approximately 78% this year [2] - The company plans to reinvest the proceeds from the $600 million sale of its industrial software business, Proficy, to focus on its core operations [2] Prolec GE Overview - Prolec GE is a supplier of grid equipment, producing transformers across various power ratings and voltage levels, with seven production bases globally, five of which are located in the United States, and approximately 10,000 employees [2] - The joint venture was originally established in 1995 by General Electric and Mexico's Signus Group, with the latter being the original controlling partner [2] - The acquisition will remove previous restrictions that limited GE Vernova's ability to sell transformers in North America, enhancing its product development decision-making authority [2]