US gas turbine manufacturer GE Vernova has seen its order book soar by 96 percent year on year, driven by skyrocketing demand from the data center sector.

The company revealed the order book in its Q3 earnings call, where it reported that its total backlog of orders had reached $197 billion, including $104bn in equipment backlog, up 92 percent, and $93bn in services backlog, up 14 percent.

CEO Scott Strazik said that the company now has around 100 gas power customers across 25 countries, of which 20 percent are data center customers. "Data centers require large electricity loads, driving the increasing need for more efficient high-voltage equipment," Strazik said.

The company said that it has signed 52GW of new gas turbine agreements so far this year, with Strazik stating that he expects the company to have at least 130GW under contract by the end of the year. This is an increase of 83GW from the start of last year.

The huge demand has led to price increases, with Q3 gas equipment orders priced more than 20 percent above Q4 2025 levels. Full-year 2026 gas pricing per kilowatt was said to be almost 50 percent above 2025.

This led the company to report a surge in revenue year on year, with Q3 revenue 18 percent higher than this time last year.

Demand from the data center sector has led to gas turbine orders to extend into the 2030s. This growth in demand led to warnings of a turbine supply shortage, with reports that manufacturers were facing delivery backlogs that stretched into the 2030s.

In addition to its gas turbine order book, the company also announced that it signed its first deployment deal for its medium-voltage UPS with an undisclosed hyperscaler. It also received a hyperscaler award for a 6MW outdoor solid-state transformer.

The company also announced the acquisition of Trench, a manufacturer of high-voltage grid components, for a reported $9bn. The deal is expected to close in late 2027.

It has also been investing in AI systems for its internal business operations. "We have investments in automation and AI with strong use cases that will expand margins over the medium term," Strazik said.

GE Vernova was formed in 2024 from the merger and subsequent spin-off of General Electric's energy businesses. It produces a range of energy equipment, including wind turbines and natural gas generators.