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◆ TESSARA JULY 23, 2026 Power is the binding constraint 100GW BACKLOG GE Vernova Gas Power orders and backlog. Bridge fuel demand for 24/7 AI datacenter power. 0.0GW 20GW 40GW 60GW 80GW 100GW Prior peak 83GW FY2025 Q1 FY2025 Q2 FY2025 Q4 FY2026 Q1 tessara.tech Source: GE Vernova quarterly filings

Power is the binding constraint

GE Vernova now sits on a 100 gigawatt gas-turbine backlog. When data centers cannot get grid power fast enough, they order their own generation. The backlog is a read on how hard power has become to secure.
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