Stock market today: Dow, S&P 500, Nasdaq wobble as Netflix slides, Tesla earnings loom

Two industrial companies that provide power equipment to data centers — GE Vernova (GEV) and Vertiv Holdings (VRT) — saw their stocks surge on Wednesday morning after reporting strong order pipelines and backlogs.

Shares of GE Vernova, which spun off from General Electric in 2024, climbed 4%, while Vertiv gained 6% ahead of the opening bell.

In the latest sign of demand for data center and AI infrastructure, GE Vernova said its orders rose 55% during the quarter, led by its power and electrification equipment division. Vertiv, meanwhile, touted an order growth rate of approximately 60% in Q3.

It’s not just the orders, however. — the companies said they saw favorable pricing, in excess of inflation and tariff costs. Profits at Vertiv were up about 63% year over year. GE Vernova swung to a profit of $1.64 per share after reporting a $0.35 loss per share the year before.

“This era of increased electricity investment has just started,” CEO Scott Strazik said in the earnings release. “The digital age is just beginning,” Vertiv executive chairman Dave Cote echoed in that company’s earnings.