GE Vernova will spend $5.275 billion to fully acquire power transformer-maker Prolec GE as artificial intelligence continues to gobble up electricity and drive up demand for power.

The acquisition comes as GE Vernova has seen increased demand for its electrification services, especially from electricity-hungry hyperscalers racing to meet demand to power artificial intelligence applications . The demand has offset its soft wind turbine segment as wind projects face an uncertain regulatory environment and impacts from tariffs.

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