Latest news with #GridOS
CNBC
2 days ago
- Business
- CNBC
Stocks rise to a new record, and Linde's space business lands in the spotlight
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are higher to start the week, with the S & P 500 and Nasdaq Composite hitting new all-time intraday highs during Monday's session. The latest move higher comes as the market continues to digest second-quarter earnings. The rally also coincides with a sharp drop in interest rates, with the yield on the 10-year Treasury down about 7 basis points to 4.362% in the session. Small but smart: Club name GE Vernova announced a deal on Monday to acquire Alteia SAS, a France-based software company that specializes in AI computer vision and machine learning. The power equipment company currently offers Alteia's software to customers through its GridOS portfolio, which is part of its broader electrification software business. Alteia's software provides customers with visual intelligence and is used to help utilities prevent disruptions to the grid and restore power. The deal — likely a small one because financial terms weren't disclosed — is expected to close Aug. 1. However, electrification is GE Vernova's fastest growing segment by revenue, and we are fans of any deal that keeps it a leading innovator in electric grid technologies. Watch this space: Industrial gas giant Linde announced Monday two new long-term agreements to supply the U.S. space industry. The first agreement sees Linde significantly expanding its facility in Mims, Florida, where it provides critical liquid oxygen and nitrogen to support rocket launches at nearby facilities. The company said this new capacity will start up in the first quarter of 2027. The second investment is a new air separation unit that Linde will build, own, and operate in the south Texas city of Brownsville. This project is expected to start in the first quarter of 2026 and deliver liquid oxygen, nitrogen, and argon, to space operations in the region. While Linde's press release did not disclose the name of its customer, it's worth noting that Elon Musk's privately held SpaceX has a huge presence in the Brownsville area, including its Starbase facility. We never really considered Linde a space play, but it turns out the company was involved in more than 100 successful rocket launches last year. It's another example of how Linde's industrial gases are critical to so many different applications. Shares of the company are up about 2% on Monday and trading near their highest levels of 2025. Up next: In a light night of earnings, NXP Semiconductor the only major company reporting after the closing bell. Before the opening bell on Tuesday, we'll see earnings from Danaher , Coca-Cola , Lockheed Martin , Philip Morris , RTX , DR Horton , General Motors , Keycorp , MSCI , Halliburton , and several others. On the data side, we'll see weekly mortgage applications and June existing home sales. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
The Star
2 days ago
- Business
- The Star
GE Vernova to buy France's Alteia for enhancing AI tools for utilities
(Reuters) -Power equipment maker GE Vernova will buy France-based Alteia, which makes artificial intelligence-based tools that allow utility companies to review their grids, it said on Monday. GE Vernova already offers Alteia's software to customers through its GridOS Visual Intelligence. The tool helps utilities assess damage and inspect assets along thousands of miles of electrical lines. The acquisition will enhance this system through visual and operational data, allowing the companies to "see and sense" the grid, GE Vernova said. The company did not disclose the financial terms of the acquisition, which is expected to close on August 1. GE Vernova has highlighted that growth in its electrification software segment — which includes the GridOS system — could rapidly accelerate, RBC Capital Markets analyst Christopher Dendrinos said. The segment has been growing at mid-single digit percentage rates in the past couple of years, he said. Surging power demand from data centers used for AI and cryptocurrency technologies has boosted GE Vernova, which was spun off from General Electric last year. The power demand is expected to hit an all-time high this year. The company is expected to release its second-quarter earnings report on July 23 before the bell. (Reporting by Sumit Saha in Bengaluru; Editing by Sahal Muhammed)
Gulf Business
05-03-2025
- Business
- Gulf Business
GE Vernova boosts Saudi energy initiatives with new investments, alliances
Image: Supplied Scott Strazik, CEO of GE Vernova, emphasised the company's commitment to Saudi Arabia's energy transition. 'With a clear roadmap for Vision 2030 and beyond, Saudi Arabia is well placed to lead a new era of energy, and GE Vernova is honoured to play a significant role in these efforts,' the CEO said. The event coincided with GE Vernova's Global Supplier Partnership Summit, which convened more than 300 supplier organisations to strengthen supply chain resilience, support national industrialisation, and foster foreign investment. GE Vernova's key initiatives and investments GE Vernova announced plans to expand its GE Saudi Advanced Turbines ( This move aligns with a Memorandum of Understanding (MOU) signed in November 2024 with National Grid and marks the first facility of its kind in the Middle East. The investment supports Saudi Vision 2030 and aims to modernise the country's electrical infrastructure while generating local employment. GE Vernova will also scale up production at its GE Manufacturing Technology Center (GEMTEC) in Dammam to advance grid automation solutions, further accelerating Saudi Arabia's energy digitalisation and modernisation efforts. In collaboration with Saudi Electricity Company (SEC), GE Vernova marked a milestone with the first-ever heavy-duty gas turbine outage planned and executed entirely by Saudi engineers at the 8th Power Plant in Riyadh. The successful completion underscores efforts to develop local talent in the kingdom's energy sector. GE Vernova's Electrification Software business signed an MOU with SEC to support the kingdom's energy transition by deploying its GridOS software. The partnership aims to digitize and modernise the power grid while establishing a Regional Center of Competency & Excellence in Riyadh. Building on an earlier MOU, GE Vernova and Saudi EXIM Bank announced detailed 'Protocols of Cooperation' to facilitate the export of locally produced energy solutions. The initiative aligns with Saudi Arabia's push to diversify its economy through non-oil exports. GE Vernova executives reaffirmed their commitment to Saudi Arabia by convening in Riyadh within the company's first year as an independent entity trading on the New York Stock Exchange. The company's nearly century-long presence in the kingdom continues to be defined by deep collaboration and investment in energy innovation. Read:
