(Reuters) -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.

(Reporting by Arunima Kumar in Bengaluru; Editing by Mohammed Safi Shamsi)