GE Aerospace Invests In Supercomputing Talent: Plans To Hire 900 Engineers
Portfolio Pulse from Lekha Gupta
GE Aerospace is partnering with Oak Ridge National Laboratory to enhance supercomputing capabilities for next-gen aircraft engine technologies. GE plans to hire 900 engineers in 2024 and has signed an MoU with Kratos Defense & Security Solutions for small engine development. GE also announced a $1 billion investment in MRO facilities and extended CEO Larry Culp's tenure. GE stock has gained over 80% in the last 12 months.
July 22, 2024 | 11:25 am
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GE Aerospace is enhancing its supercomputing capabilities through a partnership with Oak Ridge National Laboratory and plans to hire 900 engineers in 2024. The company also signed an MoU with Kratos Defense for small engine development and announced a $1 billion investment in MRO facilities.
The partnership with Oak Ridge National Laboratory and the hiring of 900 engineers indicate a strong commitment to innovation and growth. The MoU with Kratos Defense and the $1 billion investment in MRO facilities further solidify GE's position in the aerospace sector. These developments are likely to positively impact GE's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to GE Aerospace through the iShares U.S. Aerospace & Defense ETF, which includes GE stock.
The iShares U.S. Aerospace & Defense ETF includes GE stock, which has gained over 80% in the last 12 months. The positive developments at GE Aerospace are likely to benefit the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Kratos Defense & Security Solutions has signed a Memorandum of Understanding with GE Aerospace to develop and produce cost-effective small engines for unmanned aerial systems and collaborative combat aircraft.
The MoU with GE Aerospace to develop small engines for unmanned aerial systems and collaborative combat aircraft is a significant development for Kratos Defense. This partnership is likely to enhance Kratos' product offerings and revenue potential, positively impacting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Investors can gain exposure to GE Aerospace through the TCW Transform Systems ETF, which includes GE stock.
The TCW Transform Systems ETF includes GE stock, which has gained over 80% in the last 12 months. The positive developments at GE Aerospace are likely to benefit the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50