Fortune· 2h ago· 1 min read
Meet the AI Centurions.
While reporting a story on the extraordinary comeback at GE led by CEO Larry Culp , I was struck by the high-voltage stock performance of GE Vernova. What from the outside looks like the ultimate old economy stalwart, it was once a pillar of the world’s most famous conglomerate. But since it was spun off from GE in early 2024, it has zoomed from a starting market cap of $39 billion to hit $288 billion on July 21. In large part, it was the AI explosion that powered the moonshot. Turns out GE Vernova is not alone—there's a whole cadre of old-line companies that have mined the AI boom to multiply their valuations many times, and sprinted to join the $100 billion-plus valuation club.
As a starting point, I went back three years to mid-July of 2023, the approximate point when hyperscalers began planning for big expansion in AI data centers, or later if the…
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