AI Power/GEV/NEE/Utils rotation
Key Questions
What were GEV's Q1 results and backlog?
GEV reported a Q1 beat with a $200B backlog, up +76% YTD. Price targets are $1350-1400.
How have NEE and VRT performed recently?
NEE reported +10% EPS, while VRT surged +44%. This supports utilities rotation amid AI power demand.
What is IREN's AI pivot and risks?
IREN pivots to AI with 1.4GW Sweetwater and MS GPU ramp, but faces mining risks. Power rotation favors semis/oil/value shifts.
GEV Q1 beat $200B backlog +76%YTD PT$1350-1400; NEE+10%EPS VRT+44%; IREN AI pivot 1.4GW Sweetwater MS GPU ramp mining risks; power rot semis/oil/value APLD data center bets cash/debt risks.
Sources (2)
Updated Apr 27, 2026