AdvertisementAdvertisementBusinessFILE PHOTO: The logo of U.S. conglomerate General Electric is seen on the company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler/File Photo28 Jun 2025 05:53AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST U.S. power equipment maker GE Vernova is exploring the sale of its industrial software business, Proficy, in a deal that could fetch as much as $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter.Following its independence last year after a three-way split of General Electric, GE Vernova is benefiting from surging domestic power demand.This demand is expected to hit record highs in 2025, driven by rapid expansions in AI and cryptocurrency data centers, as well as increased energy consumption by households and businesses.The asset could be sold for between $900 million and $1 billion, the report said.The company is working with advisers and has reached out to industrial software firms and private equity investors, according to Bloomberg.GE Vernova declined to comment.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST