GE Vernova Stock Rebounds as AI Optimism Counters SoftBank Concerns

GE Vernova Inc. (NYSE:GEV) shares rose Wednesday morning, rebounding after a sharp Tuesday sell-off tied to concerns over SoftBank’s revised U.S. data center plans.

The recovery also came alongside improved sentiment around AI infrastructure after CoreWeave, Inc. (NASDAQ:CRWV) raised guidance, supporting expectations for continued data-center spending and related power demand.

• GE Vernova stock is moving in positive territory. Why is GEV stock advancing?

SoftBank Changes Put Turbine Demand In Focus

GE Vernova shares fell on Tuesday after SoftBank revised power-equipment procurement plans for its U.S. data center projects, Reuters reported.

JPMorgan said the changes contributed to a $3.7 billion second-quarter charge and could affect the SoftBank-backed Pike County, Ohio, project.

The project was described as a 10-gigawatt AI server warehouse supported by 9.2 gigawatts of new natural gas generation, putting potential turbine demand tied to AI infrastructure buildouts under scrutiny.

Grid Projects Provide Broader Demand Context

Outside data centers, GE Vernova continues to expand its exposure to grid infrastructure and power-equipment demand.

The company announced a $34.5 million investment to expand transformer manufacturing at its Shreveport, Louisiana, facility, citing growing demand for electrical infrastructure.

The project will add new manufacturing equipment, process improvements, and supporting infrastructure across key production areas, with the upgrades expected to increase output of industrial and renewable-energy transformers.

GE Vernova expects the expansion to create 175 direct jobs. Louisiana Economic Development estimates another 185 indirect jobs, bringing the total potential impact to 360 positions across the region.

The facility is expected to reach full production capacity in 2028.

Fresh Analyst Call Adds To Wednesday’s Setup

In a fresh analyst action reported Tuesday, GLJ Research analyst Gordon L. Johnson reiterated a Sell rating on GE Vernova and maintained a $540 price forecast.

GLJ’s stance remains notably more bearish than the broader Wall Street view. Argus Research maintained a Buy rating and lowered its forecast to $1,100 on Nov. 3, while Guggenheim kept its Buy rating and cut its forecast to $1,400 on Nov. 2.

GE Vernova carries a consensus Buy rating with an average consensus price forecast of $1,114.15.

GEV Technicals Remain Under Pressure

GE Vernova trades below its key moving averages, keeping the short- to medium-term technical trend bearish. The stock sits 2.6% below its 20-day SMA and 8.3% below its 50-day SMA, while also remaining below its 100-day and 200-day averages.

RSI stands at 40.44, indicating neutral momentum, while MACD remains below its signal line, pointing to continued downside pressure.

The technical setup also remains weighed down by an October Death Cross, when the 50-day SMA fell below the 200-day SMA.

Despite gaining 38.36% over the past 12 months, GE Vernova is currently positioned at 47% of its 52-week range, underscoring the contrast between longer-term gains and recent weakness.

GEV Price Action: GE Vernova shares were up 1.48% at $809.34 at publication on Wednesday, according to Benzinga Pro data.

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