GE Vernova (NYSE: GEV) reported a backlog (remaining performance obligations) of $176 billion at the end of the second quarter, a 37% increase year-over-year and a $13 billion increase from the end of the first quarter. The company expects its backlog to reach $200 billion by 2027. This growth is primarily driven by a global power investment super cycle and the rapid construction of AI data center infrastructure, leading to strong demand for power and grid infrastructure equipment such as grid transmission, switchgear, and transformers. Demand for GE Vernova's gas turbine equipment is particularly robust, with capacity expected to reach 30 gigawatts by 2030.