Has Baker Hughes “sold out”? Q4 2025 - 1.26.2026 (020)

Is Baker Hughes still an oilfield services company, or has it quietly become the engine room for the AI revolution?In this episode, Susie and Miro break down a Q4 report that signals a massive identity shift for BKR. While the traditional drilling business treads water in a soft macro environment, the Industrial & Energy Technology (IET) segment is firing on all cylinders, hitting record 20% margins.The real headline? Management revealed that their gas turbines—essential for off-grid data centers—are effectively sold out through 2028. We unpack the implications of this "power bottleneck," the reality behind their doubled $3B data center target, and why the "flat" revenue guidance for 2026 is actually an optical illusion hiding a leaner, more profitable machine. If you want to know why the stock reversed from pre-market lows to close at session highs, this is the breakdown you need. ⚡️📉