Keep pulling the thread on Scott Strazik.
GE Vernova plans to invest $11 billion in R&D and CapEx over the next three years to expand its business and meet rising power demand.
Industrial projects and new semiconductor foundries currently under construction in the U.S. are at risk of not becoming operational due to a lack of available electricity.
The primary driver of rising electricity bills in the U.S. is the need to reinvest in grid infrastructure that has been underfunded for the past 50 years and is reaching the end of its useful life.
GE Vernova spent $5.3 billion in its deal with Prolec to acquire five transformer factories, three of which are in the U.S. and two in Latin America.
Scott Strazik predicts that GE Vernova's nuclear business will become a very valuable part of the company between 2030 and 2040.
GE Vernova is currently building its first new nuclear plant in Canada, with commissioning expected in 2029.
Scott Strazik expects GE Vernova to begin construction on its first new nuclear plant in the U.S. before the end of 2026.
Scott Strazik expects GE Vernova to be building or in deep engineering for new nuclear plants in at least two European countries by the end of 2026.
NVIDIA's CEO stated a few months prior to the Semafor World Economy Summit 2026 that his company was a bottleneck for the entire AI ecosystem and the broader economy.
GE Vernova is not concerned about overbuilding power generation capacity because the United States has a fundamental need for more electrical infrastructure.
The United States has approximately 1,200 gigawatts of total power generation capacity, of which 200 gigawatts is from coal.
Scott Strazik predicts that the 200 gigawatts of coal power capacity in the U.S. will be retired due to unfavorable economics.