Latest news with #GEVernova
Bloomberg
13 hours ago
- Business
- Bloomberg
Singapore's App-Led Car Sharing Offers Relief From Stratospheric Cost
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg's journalists around the world. Today, Benicia Tan addresses her home city's uniquely expensive car ownership and the alternative paths that people have charted with the help of apps. GE Vernova buys AI company: GE Vernova is acquiring French software company Alteia, as the maker of power generation equipment looks to use AI for ways to strengthen the electric grid.
Yahoo
15 hours ago
- Business
- Yahoo
GE Vernova to buy French AI software provider Alteia
GE Vernova has announced the acquisition of French software company Alteia, which offers AI-driven visual intelligence to enhance electric grid management. In a statement issued on 21 July 2025, the power equipment maker stated that the deal will enhance its ability to provide utilities with visual data solutions, which offer situational intelligence and actionable insights. Financial details of the deal remain undisclosed, with completion anticipated on 1 August 2025. GE Vernova's GridOS suite, part of its electrification software division, equips utilities to manage and maintain power grid stability amid disruptive events such as storms and wildfires. The company already provides Alteia's software via GridOS Visual Intelligence, which uses AI and visual data to help utilities monitor electric grids, assess damage and inspect assets across extensive power lines. GE Vernova cites multiple benefits from purchasing Alteia, which uses AI, computer vision and machine learning to analyse visual data. The deal enhances AI-powered visual data integration with operational systems, improving grid visibility, damage assessment and asset inspection to boost situational awareness, reduce risks and speed up grid restoration. GE Vernova electrification software business CEO Scott Reese stated: 'With this acquisition, we are excited to increase our investment in a critical element of our GridOS offering. 'Together with the Alteia team, whose expertise will help to advance our AI and data-centric vision for GridOS, GE Vernova will be able to solve for critical pain points that our utility customers face every day and help them use visual data and AI in an actionable way to prevent disruptions or restore power quickly. 'This acquisition aims to solidify further our position as a data and AI leader in grid orchestration software and pave the way for additional use cases that could enhance the visual precision needed for modern grid operations.' Alteia CEO Michael de Lagarde stated: 'We started Alteia with the mission to simplify visual data integration and analysis for utilities, a vision that aligns perfectly with GE Vernova's GridOS portfolio. This acquisition is more than just a strategic step - it enhances our ability to deliver cutting-edge solutions to our clients while accelerating our AI roadmap for smarter, more efficient infrastructure operations.' In July 2025, GE Vernova was awarded a contract by TransnetBW to upgrade the Kühmoos substation in southern Germany. The initiative aims to enhance frequency control, ensure voltage reliability and improve electrical power transfer between Germany, France and Switzerland. "GE Vernova to buy French AI software provider Alteia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
a day ago
- Business
- CNBC
Stocks rise to a new record, and Linde's space business lands in the spotlight
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks are higher to start the week, with the S & P 500 and Nasdaq Composite hitting new all-time intraday highs during Monday's session. The latest move higher comes as the market continues to digest second-quarter earnings. The rally also coincides with a sharp drop in interest rates, with the yield on the 10-year Treasury down about 7 basis points to 4.362% in the session. Small but smart: Club name GE Vernova announced a deal on Monday to acquire Alteia SAS, a France-based software company that specializes in AI computer vision and machine learning. The power equipment company currently offers Alteia's software to customers through its GridOS portfolio, which is part of its broader electrification software business. Alteia's software provides customers with visual intelligence and is used to help utilities prevent disruptions to the grid and restore power. The deal — likely a small one because financial terms weren't disclosed — is expected to close Aug. 1. However, electrification is GE Vernova's fastest growing segment by revenue, and we are fans of any deal that keeps it a leading innovator in electric grid technologies. Watch this space: Industrial gas giant Linde announced Monday two new long-term agreements to supply the U.S. space industry. The first agreement sees Linde significantly expanding its facility in Mims, Florida, where it provides critical liquid oxygen and nitrogen to support rocket launches at nearby facilities. The company said this new capacity will start up in the first quarter of 2027. The second investment is a new air separation unit that Linde will build, own, and operate in the south Texas city of Brownsville. This project is expected to start in the first quarter of 2026 and deliver liquid oxygen, nitrogen, and argon, to space operations in the region. While Linde's press release did not disclose the name of its customer, it's worth noting that Elon Musk's privately held SpaceX has a huge presence in the Brownsville area, including its Starbase facility. We never really considered Linde a space play, but it turns out the company was involved in more than 100 successful rocket launches last year. It's another example of how Linde's industrial gases are critical to so many different applications. Shares of the company are up about 2% on Monday and trading near their highest levels of 2025. Up next: In a light night of earnings, NXP Semiconductor the only major company reporting after the closing bell. Before the opening bell on Tuesday, we'll see earnings from Danaher , Coca-Cola , Lockheed Martin , Philip Morris , RTX , DR Horton , General Motors , Keycorp , MSCI , Halliburton , and several others. On the data side, we'll see weekly mortgage applications and June existing home sales. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNA
a day ago
- Business
- CNA
GE Vernova to buy France's Alteia for enhancing AI tools for utilities
Power equipment maker GE Vernova will buy France-based Alteia, which makes artificial intelligence-based tools that allow utility companies to review their grids, it said on Monday. GE Vernova already offers Alteia's software to customers through its GridOS Visual Intelligence. The tool helps utilities assess damage and inspect assets along thousands of miles of electrical lines. The acquisition will enhance this system through visual and operational data, allowing the companies to "see and sense" the grid, GE Vernova said. The company did not disclose the financial terms of the acquisition, which is expected to close on August 1. GE Vernova has highlighted that growth in its electrification software segment — which includes the GridOS system — could rapidly accelerate, RBC Capital Markets analyst Christopher Dendrinos said. The segment has been growing at mid-single digit percentage rates in the past couple of years, he said. Surging power demand from data centers used for AI and cryptocurrency technologies has boosted GE Vernova, which was spun off from General Electric last year. The power demand is expected to hit an all-time high this year. The company is expected to release its second-quarter earnings report on July 23 before the bell.
Yahoo
a day ago
- Business
- Yahoo
GE Vernova to buy France's Alteia for enhancing AI tools for utilities
By Sumit Saha (Reuters) -Power equipment maker GE Vernova will buy France-based Alteia, which makes artificial intelligence-based tools that allow utility companies to review their grids, it said on Monday. GE Vernova already offers Alteia's software to customers through its GridOS Visual Intelligence. The tool helps utilities assess damage and inspect assets along thousands of miles of electrical lines. The acquisition will enhance this system through visual and operational data, allowing the companies to "see and sense" the grid, GE Vernova said. The company did not disclose the financial terms of the acquisition, which is expected to close on August 1. GE Vernova has highlighted that growth in its electrification software segment — which includes the GridOS system — could rapidly accelerate, RBC Capital Markets analyst Christopher Dendrinos said. The segment has been growing at mid-single digit percentage rates in the past couple of years, he said. Surging power demand from data centers used for AI and cryptocurrency technologies has boosted GE Vernova, which was spun off from General Electric last year. The power demand is expected to hit an all-time high this year. The company is expected to release its second-quarter earnings report on July 23 before the bell. Sign in to access your portfolio
