Latest news with #GEVernova
Yahoo
8 hours ago
- Business
- Yahoo
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
(Reuters) -U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Reuters
8 hours ago
- Business
- Reuters
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
June 27 (Reuters) - U.S. power equipment maker GE Vernova (GEV.N), opens new tab is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg Newsreported, opens new tab on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric (GE.N), opens new tab, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
CNA
8 hours ago
- Business
- CNA
GE Vernova explores sale of Proficy software unit, Bloomberg News reports
U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand. This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses. The asset could be sold for between $900 million and $1 billion, the report said. The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg. GE Vernova declined to comment.
Bloomberg
9 hours ago
- Business
- Bloomberg
GE Vernova Is Exploring a Sale of Its Proficy Software Business
GE Vernova Inc. is exploring a potential sale of its industrial software business known as Proficy, according to people familiar with the matter. The company is working with financial advisers on the divestiture, the people said, asking not to be identified because the information is private.
Yahoo
11 hours ago
- Business
- Yahoo
GE Vernova Inc. (GEV) Continues To Shine, Says jim Cramer
GE Vernova Inc. (NYSE:GEV) is one of the . GE Vernova Inc. (NYSE:GEV) is an American industrial equipment company that has benefited from investor attention due to its ability to manufacture nuclear power generation equipment. Nuclear power has emerged as a source of power for large AI data centers and has led to GE Vernova Inc. (NYSE:GEV)'s shares gaining 179% over the past year. It is one of Cramer's few top nuclear stocks as the CNBC host believes the firm is experiencing stable demand for its nuclear reactors and can deliver them for nuclear power generation. GE Vernova Inc. (NYSE:GEV)'s shares have gained 48.3% year-to-date on the back of several catalysts such as analyst upgrades and strong earnings results. Cramer's remarks about the firm involved discussing the firm as one of the quiet stocks that were making investors money. They followed as he discussed Broadcom, which ranks 6th on this list. 'How about GE Vernova. Once again.' Earlier, Cramer discussed why his charitable trust owns GE Vernova Inc. (NYSE:GEV) shares: 'I prefer GE Vernova because they're the ones that will build the reactors, and it's what I call a real company. But this crowd is repelled by the truth. They refuse to believe in and simply think, I'm trying to keep people out of fantastic stocks, little stocks. I'm not. I just think the GE Vernova builds new plants, and that's a good way to play nuclear power building. I mean… that's why my trust owns it.' While we acknowledge the potential of GEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
