Studsvik, GE Vernova Hitachi and Samsung C&T commit to advancing 1.2 GW nuclear power project in Sweden

Constellation Energy (CEG) secured 30% of its nuclear output in long-term contracts, BWXT's backlog surged 40% to $8.4B, and GE Vernova's backlog reached $176B. CEG, BWXT, and GEV operate in distinct segments of the nuclear power supply chain, with unique cash flow profiles. CEG's Q2 EPS was $2.55, and full-year guidance was raised to $11.50-$12.50. BWXT's Q2 revenue was $902M, up 18% YoY, and GE Vernova's Q2 bookings hit $24.2B, up 88% YoY.

GE Vernova (GEV) reported $38B revenue in 2025, expecting $45.5B-$46.5B in 2026. Q2 2026 saw $24.2B orders, up 88%, with a $176B backlog. Growth driven by power, electrification, and AI-related demand. Challenges include wind business losses and valuation concerns. Management targets 20% EBITDA margin by 2028.

Studsvik chose GE Vernova Hitachi Nuclear Energy and Samsung C&T as partners for a 1.2-gigawatt nuclear project in Sweden. The partners will help develop a new facility at an existing or new site, aiming to boost Sweden's nuclear energy capacity. The decision followed a competitive evaluation process.

The global power-equipment industry is experiencing a boom driven by AI, data centers, and renewable energy. Companies like GE Vernova, Siemens Energy, Eaton, and Schneider Electric are expanding capacity and reporting strong demand. GE Vernova's backlog reached $176 billion, while Siemens Energy committed $1 billion to US manufacturing. Eaton's global backlog surged 103%, and Schneider Electric reported €11.459 billion in Q2 2026 revenue.

AI data centers face power shortages, with Anthropic estimating future models may need gigawatts of electricity. GE Vernova (GEV) is benefiting from surging demand for its gas turbines, with orders jumping fourfold in Q2. The company's backlog reached $176 billion, and it's involved in projects like Texas's Project Kilby for Microsoft's AI data center.

Anthropic highlights electricity as a major constraint for AI data centers, with the U.S. AI sector potentially requiring 50 GW by 2028. GE Vernova (GEV) is positioned to benefit, offering power solutions like gas turbines. GEV's orders surged in Q2, with a $176B backlog. It's involved in Project Kilby, a power facility for Microsoft's AI data center.