GE Vernova Inc. (GEV) Is The Only One With The Power, Says Jim Cramer

We recently published 10 Stocks On Jim Cramer’s Mind As He Gives Up On Becoming Fed Chair. GE Vernova Inc. (NYSE:GEV) is one of the stocks Jim Cramer recently discussed.

GE Vernova Inc. (NYSE:GEV) is a power generation products provider that has primarily been in the news recently due to its exposure to nuclear power and the resulting catalysts from the AI data center build out. The firm’s shares have gained 86% year-to-date and jumped by a strong 14.6% in July. GE Vernova Inc. (NYSE:GEV)’s shares gained after it raised annual forecasts during its second quarter earnings. Cramer’s been a long-time fan of the stock, and he shared why:

“Well I’m so glad you brought it up because I’ve got to tell you I spoke to Scott Strazik this morning from GE Vernova. Look, you may have trouble getting GPUs, from Jensen, try to get the power, from GE Vernova, which is the only one who really has any. I mean, David, the backlog. Look he’s talking every day to Amazon, he talks to, well actually to every hyperscaler, but ones that are top of mind is Microsoft. David, there’s just not enough power. There’s not enough power.

“I’ll tell you how desperate they are. You know what they’re doing? They’re using aerojet engines, tying them up with other ways to move power to be able to have some sort of stopgap power for people. . .Carl, it maybe, and I saw Ben Reitzes has a piece this morning with Mellius, and it’s bigger like the railroad moment, he’s saying. You can’t get power!”

Previously, the CNBC TV host commented on GE Vernova Inc. (NYSE:GEV)’s earnings report before it was released:

“No, I think at this point, we’re going to wait for GE Vernova to come in. We had a great club meeting on Friday, and I really just kind of hang my head in shame that I didn’t even buy more, but there’s nothing to do. This thing is such a horse. It’s just been a parabolic move, up 70%. We’re going to get a report… next week. Maybe what we say is, let’s hear what they have to say.”

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: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.