GE Vernova vs. Vistra: One AI Power Stock Has Absolutely Crushed the Other, And Could Continue Doing So

GE Vernova and Vistra are competing in the AI data center power boom, but their business models differ significantly. GE Vernova manufactures turbines for on-site power generation with a $263 billion backlog and strong margins, while Vistra operates a massive generation fleet and retail utility business with higher leverage. The author favors GE Vernova due to its clearer growth path independent of commodity price fluctuations.