Core Insights - GE Vernova has undergone a significant turnaround, becoming the highest-rated stock among the remaining General Electric companies, previously considered a problem child [1][7] - The company is positioned as an artificial intelligence play, with its enterprise value to EBITDA valuations reflecting this transformation [2][6] - The demand for power driven by AI applications has shifted perceptions of GE Vernova's power operations, which were once viewed as a weak link [4][5] Financial Performance - The power segment has seen a revenue increase from $71.3 billion to $84.1 billion, representing an 18% growth [8] - The electrification segment has experienced a substantial growth of 38%, rising from $21.9 billion to $30.2 billion [8] - The wind energy segment, however, has faced a decline, with revenues decreasing from $25 billion to $21.5 billion, a drop of 14% [8] Strategic Outlook - Management aims to return the renewable energy business to profitability in the coming years, indicating a focus on long-term growth [7] - The backlog growth in the third quarter highlights the increasing demand for power, particularly in relation to AI applications [6]