Track market-moving stories before they get noisy

Bloom Energy (BE -3.08%) is a clean energy company that makes solid oxide fuel cell systems. These fuel cells, to put it simply, chemically remove electrons from natural gas and route them through a circuit to produce electricity. The cells live in giant boxes -- Bloom Boxes -- that can be used as mini on-site power plants for data centers, factories, and other facilities that can't wait years to gain access to a grid connection.

This advantage -- on-site power generation -- has become enormously valuable in the age of artificial intelligence (AI). Bloom's share price is up 136% so far in 2026 and over 344% over the past year.

That's a huge run for any stock. And yet the numbers underneath that rally suggest there's plenty of room for further growth.

Image source: Bloom Energy.

Bloom is filling a gap in the grid To frame Bloom's opportunity properly, it helps to understand a significant mismatch at the heart of the AI build-out.

In a nutshell, power-intensive facilities, like data centers, are being built faster than the U.S. grid can expand to accommodate them. As a result, the developers of these facilities can't build them just anywhere; they have to pick places where there's enough power to support their projects. And even then, there could still be a delay between when a data center is constructed and when it can actually get power.

Depending on the grid is cumbersome, and data centers tend to increase a community's electricity bills due to the enormous amount of power these server farms guzzle.

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In short, it would be best if these AI factories could generate their own power. Bloom Boxes, which can be installed within 90 days, are exactly the kind of energy solution they need.

Bloom's growth is enormous; so are expectations That preamble leads me to the opportunity. Few companies can offer what Bloom does. And it's showing up not only in today's revenue but also in what analysts are expecting over the next two years.

Data by YCharts.

Bloom generated about $2 billion in total revenue in 2025. It has already produced about that much (roughly $1.8 billion) through the first two quarters of 2026, and it projects it will finish the year with $3.9 billion to $4.2 billion, which would roughly double last year's revenue.

Analysts are expecting that figure to more than triple over the next two years, but that's a generous estimate for a company with a pipeline like Bloom's. The company entered 2026 with a roughly $20 billion backlog, but that figure has likely gone up. CEO KR Sridhar recently commented that Bloom's backlog was "growing faster than revenue." That could be a problem -- Bloom's manufacturing capacity could be limited -- but it's not a bad problem when your company is profitable.

There is, however, one big catch: Bloom's valuation. With a roughly $70 billion market cap, and just $251 of trailing-12-month net income, Bloom stock trades at around 280 times trailing earnings. That's expensive by any measure, and it assumes years of strong execution.

For most long-term investors, Bloom is still a buy, but only for those willing to accept some volatility along the way. Bloom stock looks poised for growth, but keep in mind the immense expectations already built into today's price and the downside that could follow if Bloom slips on its promises.

For well over a year, Bloom Energy (BE -1.14%) has been one of the energy sector's top-performing stocks.

And for no small reason: The solid oxide fuel cell maker's energy systems -- sleek grey boxes that generate power on-site -- allow data centers to sidestep what could be a years-long wait to connect to the grid.

Bloom calls this its "time-to-power" advantage. Indeed, Bloom can make an energy system operational within 90 days, so it claims, and its deployment of a system for Oracle (ORCL +0.71%) within 55 days is testimony to how fast it can move. Few companies can deliver on-site power generation as fast as Bloom -- and a new deployment system could make that time advantage even stronger.

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Bloom is moving electrical work into the factory. Bloom's energy technology is pretty ingenious. Inside the box, Bloom's fuel cells use an electrochemical reaction to oxidize a fuel, such as natural gas, thereby releasing electrons. Those electrons then flow through an external circuit, generating an electric current. That current is then converted into usable electricity and delivered to a customer's facility.

These boxes are mass-produced in factories and shipped to clients for on-site installation. The installation phase, when the systems are wired and integrated, can involve extensive work and, therefore, considerable time. It follows, therefore, that if Bloom can reduce installation time, it could potentially deliver power to its clients faster.

And that's exactly what Bloom is doing.

On Aug. 19, 2026, it announced a new deployment system, "Power Connect." Unlike Bloom's current process, this one arrives "pre-connected, pre-wired, tested and ready for installation." Bloom believes the new system can cut onsite power installation time by over 40%. That makes an already speedy process that much faster.

Image source: Bloom Energy.

A faster installation process could help clear one of Bloom's bottlenecks. As I've written about before, Bloom's biggest problem isn't demand. In fact, it's the opposite problem: It has too much demand. As CEO K.R. Sridhar put it in Bloom's second-quarter earnings call, Bloom's "backlog [is] growing at a faster pace than revenue." That's not a bad problem to have, but it does create some limit on how quickly Bloom can turn its project backlog into revenue.

Power Connect could, in this sense, help speed up the process tremendously. Under the old model, Bloom had to rely on skilled electricians to install energy systems. This is a problem because skilled electricians are in short supply across the U.S. By moving electrical work into the factory, Bloom can potentially scale its deployments without having to scale its installation workforce. It reduces a potential bottleneck, and, as a result, could put more servers in operation in a shorter time.

Don't miss that last point. A shorter deployment time is great for clients, but it's also great for Bloom: It means Bloom can convert more of its roughly $20 billion backlog into sales. Likewise, it could improve its installation margin by shifting electrical work into the factory, which could lower installation costs.

Bloom has been a market favorite: It's more than quadrupled over the past year, and it now trades at roughly 270 times its trailing earnings. That's not cheap by any measure. That said, if Power Connect allows Bloom to work through its backlog faster, while also reducing installation costs, today's lofty valuation could be easier to justify. I think it makes Bloom a compelling buy, albeit one I'd approach with patience, given how much future growth is already priced in.

Hydrogen and fuel cell stocks are sliding Tuesday morning as the 10-year Treasury note yield sits near the top of its 52-week range. Plug Power (NASDAQ:PLUG) stock is down 5% to $2.17.

Meanwhile, Bloom Energy (NYSE:BE) stock is falling 8% to $214.44. FuelCell Energy (NASDAQ:FCEL) stock is holding relatively steady, as it’s only down 0.5% to $22.25.

Plug Power, Bloom Energy, and FuelCell Energy fund plants, manufacturing capacity, and long-duration projects, so higher discount rates compress their valuations while higher borrowing costs raise the price of buildout. Both effects push the same way.

The Yield Backdrop The 10-year Treasury yield at 4.728% sits below the 52-week high of 4.747% and inside a 52-week range that starts at 3.947%. Rate-sensitive corners of the market feel this immediately, and Plug Power, Bloom Energy, and FuelCell Energy sit at the sharp end given cash burn and long project horizons.

A higher discount rate compresses the present value of profits that management projects years out. Higher borrowing costs raise the tab on capital these companies need to build capacity.

Plug Power’s Q2 2026 Cushion Plug Power stock trails its peers on YTD gains despite a Q2 2026 report showing margin progress. The company’s revenue reached $178.3M, representing 2.5% year over year (YoY) growth from $168.8M. The company’s adjusted earnings were -$0.07, essentially in line.

The margin picture told a sharper story. The company’s adjusted EBITDA margin was negative 25.4%, and service margin reached 27%. CEO Jose Luis Crespo described a “meaningful step” in gross margin, approaching breakeven, and attributed it to improved service reliability and better utilization at hydrogen production plants.

On the earnings call, Crespo told Colin Rusch of Oppenheimer that better unit reliability, more efficient technician coverage, and recent service price adjustments drove the service margin gain. He told Eric Stine of Craig Hallum that refreshes for two major customers follow normal fleet renewal timing, with roughly 2,000 units expected in 2026 and further activity across the next three years. CFO Paul Middleton, replying to Manav Gupta of UBS, pointed to equipment volume growth, manufacturing cost reductions, and service reliability improvements as the main levers for the second half.

Rate exposure runs directly through liquidity at Plug Power. Middleton told Sameer Joshi of H.C. Wainwright that Plug Power’s convertible debt is long-dated and low cost, and that asset monetization and working capital improvements are supporting liquidity needs for the foreseeable future. A business running a negative 25.4% adjusted EBITDA margin that leans on asset monetization for cash faces more exposure to the price and availability of capital than a self-funding peer.

Peers Diverge: Bloom Energy and FuelCell Energy Bloom Energy stock is falling 8% to $214.44 Tuesday, giving back a slice of a year to date (YTD) advance of 167% through Monday’s close. The company makes solid oxide fuel cell systems for onsite power and has become a meaningful supplier to AI data center operators, including major U.S. hyperscalers and neocloud and colocation operators.

FuelCell Energy stock is essentially flat, down 0.5% to $22.25, with a YTD gain of 206% through Monday. Its business designs and operates carbonate fuel cell systems for distributed power generation, with a generation portfolio of approximately 62.8 MW across U.S. sites under long-term power purchase agreements.

Selling in Bloom Energy is heaviest despite AI data center exposure, while selling in FuelCell Energy is minimal. This points to a rate event rather than a demand event.

Plug Power’s 16% YTD gain through Monday trails both of the company’s peers by wide margins. A smaller run-up means less air to give back in a derating. PLUG stock has not been rewarded for the operational progress the second quarter showed, and the low absolute share price means small dollar moves produce large percentage swings.

Meanwhile, the Global X Hydrogen ETF (NASDAQ:HYDR) is up 44% year to date through Monday’s close. This narrow thematic vehicle carries significant concentration risk. A single-theme hydrogen basket offers little protection when the entire theme derates on rates.

What to Watch Investors could look for signs that the 10-year yield breaks above its 52-week high, as another leg higher can keep pressure on the group. Plug Power management has guided to positive gross margin in the second half, a key operational milestone for the stock. The material handling refresh cycle and its 2,000-unit 2026 target are the concrete milestones behind that path.

Plug Power’s bull case rests on margin progress, the 27% service margin, reduced cash burn, and long-dated, low-cost convertible debt. The bear case is real: a negative 25.4% adjusted EBITDA margin, continued losses, reliance on asset monetization for liquidity, and 2.5% revenue growth that is modest for a company still valued on future scale.

Given the low share price and volatility in Plug Power stock, your position sizes should stay moderate (we wrote a free playbook on speculating with just 5% of a portfolio, here: Small Stakes, Big Swings). Market action into the close and any further move in yields could set the tone for the hydrogen group through the rest of the week.

Contact [email protected] for any questions or corrections.

NEW YORK, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Bloom Energy Corporation (NYSE: BE) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Bloom Energy securities between February 27, 2026 and July 8, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/BE.

Bloom Energy Case Details

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:

that Bloom Energy obtained scandium through intermediaries who sourced the metal from China;that, as a result, the Company understated the extent to which it relied on scandium from China; andthat, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What's Next for Bloom Energy Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/BE. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Bloom Energy you have until September 28, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Bloom Energy Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Bloom Energy Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

Bloom Energy Corp. (NYSE:BE) shares are trading higher during Friday’s premarket session as traders keep leaning into the AI data center power-demand theme tied to CoreWeave’s expansion.

Bloom Energy shares are trending higher. Why are BE shares climbing? What Is Driving Bloom Energy’s Stock Today?CoreWeave posted second-quarter results that beat Wall Street estimates, including $2.58 billion in revenue and a $104 billion revenue backlog tied to AI infrastructure demand. The read-through for Bloom is that CoreWeave’s high-density data centers can lean on Bloom’s solid oxide fuel cell systems for faster on-site power.

Bloom is also catching a macro tailwind this week after July CPI came in as expected, with headline CPI up 3.4% YoY and core inflation at 2.5%, while the CME FedWatch September hike probability slipped to 42% from 45%. Lower yields after the print have helped reopen risk appetite for growth-linked infrastructure names.

CoreWeave Hits Strategic Inflection Point Fueled by Enterprise AI Demand“CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage. Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform,” said Michael Intrator, co-founder and CEO of CoreWeave.

“CoreWeave is built on the conviction that AI is foundational to every industry and that realizing its full potential requires a purpose-built platform. This quarter reinforced that conviction.”

Bloom Energy Stock: Key Levels To WatchFrom a trend perspective, the stock is trading 13.6% above its 20-day SMA ($210.73) and 30.1% above its 200-day SMA ($183.96), which keeps the longer-term uptrend intact after a huge 12-month run of 423.65%. At the same time, it’s trading 3.6% below its 50-day SMA ($248.39), a reminder that the intermediate trend is still working through a consolidation phase.

RSI is 52.51, which is basically neutral and fits a "digesting gains" setup rather than an overbought chase. RSI measures how stretched the recent move is, and this reading suggests buyers and sellers are closer to balanced right now than they were during the May overbought push.

The chart also has a mixed moving-average message: the 20-day SMA is below the 50-day SMA (a bearish near-term crossover), but the 50-day SMA remains above the 200-day SMA (a bullish longer-term structure). With the most recent swing high in June and swing low in July, traders will likely treat any bounce as needing follow-through back above the 50-day area to confirm momentum is rebuilding.

Key Support: $230.50 — a nearby pivot zone that sits just below the 100-day SMA ($238.63), making it a practical "line in the sand" if the pullback deepens Bloom Energy’s Benzinga Edge Scorecard BreakdownBelow is the Benzinga Edge scorecard for Bloom Energy, highlighting its strengths and weaknesses compared to the broader market:

Momentum: Bullish (Score: 98.8/100) — The stock is still screening as a market leader despite the recent consolidation under the 50-day average. Value: Weak (Score: 2.57) — The setup implies a pricey stock relative to fundamentals, which can raise the bar for execution. Growth: Bullish (Score: 98.67/100) — The market is rewarding the company’s growth profile, which fits the AI power-demand narrative. The Verdict: Bloom Energy’s Benzinga Edge signal reveals a classic High-Flyer setup, with very strong momentum and growth scores paired with a very weak value profile. For longer-term holders, that usually means the trend can stay powerful, but pullbacks can be sharper if expectations cool or the next catalyst disappoints.

Bloom Energy Stock Price Movement in PremarketBE Stock Price Activity: Bloom Energy shares were up 0.92% at $238.40 during premarket trading on Friday, according to Benzinga Pro data.

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Key Takeaways Bloom Energy has gained 143% YTD, outperforming its industry, sector and the S&P 500.BE is benefiting from AI data-center demand, grid constraints and growing adoption of onsite power.Bloom Energy's 2026 and 2027 earnings estimates have risen 25% and 12.5%, respectively, in the past 30 days. Bloom Energy Corporation (BE - Free Report) has gained 143% year to date, outperforming the Zacks Alternative Energy - Other industry’s increase of  6.3%, the Zacks Oil & Energy sector’s increase of 28.6% and the S&P 500’s gain of 12.5% in the same time frame.

Bloom Energy is a global leader in onsite power generation, gaining from increasing demand for clean energy from AI-driven data centers, as well as from customers increasingly adopting distributed energy solutions to bypass transmission and distribution constraints.

BE vs Industry, Sector, S&P 500 YTD
Image Source: Zacks Investment Research

Shares of other industry players like Talen Energy (TLN - Free Report) have lost 4.6% in the past three months, while those of Plug Power (PLUG - Free Report) have gained 12.7%.

Is Bloom Energy Expensive?Bloom Energy is currently trading at a premium valuation. Its forward 12-month price-to-sales (P/S) ratio of 11.14X stands higher than the industry’s 5.03X and the median of 2.81X over the last five years.
 

Image Source: Zacks Investment Research

 BE is expensive compared with other industry players like Talen Energy and Plug Power.

The Case for Bloom EnergyBloom Energy is expanding its onsite power platform to address electricity shortages, lengthy deployment timelines and rising energy costs. The company is positioned to benefit from several long-term trends, including rapid growth in AI infrastructure, grid capacity constraints, increasing demand for dependable and affordable electricity, and government support for energy independence and domestic manufacturing.

Its Energy Server platform provides scalable on-site electricity by connecting directly to customers’ electrical systems, thus reducing dependence on traditional transmission networks. Powered by Bloom Energy’s proprietary solid oxide technology, the platform generates electricity through an efficient electrochemical process, delivering reliable and cleaner energy to commercial and utility customers. Its adoption is expected to increase among AI data centers, cryptocurrency mining operations, advanced manufacturers and other energy-intensive industries.

Management highlighted the company’s accelerating growth on its latest earnings call. Bloom Energy took 21 years to record its first $1 billion revenue year in 2022 and another three years to double that figure. It now expects to double revenues again in just one year.

Bloom Energy and Brookfield also recently expanded their strategic partnership, raising planned investment in AI-related power infrastructure from $5 billion to $25 billion. This fivefold increase reflects surging electricity demand driven by the global development of hyperscale AI data centers.

Meanwhile, Bloom Energy continues investing in research and development to improve system performance, lower manufacturing costs and strengthen profitability. Over the long term, the company aims to establish its solid oxide fuel-cell technology as the preferred on-site power solution for data centers, critical infrastructure and other energy-intensive applications.

Optimistic Growth Estimate for BEThe Zacks Consensus Estimate for 2026 and 2027 revenues implies 104.3% and 57% year-over-year increases, respectively.

The consensus estimate for 2026 and 2027 earnings implies 239.5% and 85.16% year-over-year increases, respectively.  The company has a Growth Score of A. The expected long-term earnings growth rate is pegged at 38%, much higher than the industry average of 17.1%.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Bloom Energy’s 2026 and 2027 earnings has moved 25% and 12.5% north in the last 30 days, reflecting analysts' optimism in the stock.

The Zacks Consensus Estimate for 2026 EPS of Talen Energy has moved south, but the same for 2027 has moved north in the last 30 days. 
On the other hand, the Zacks Consensus Estimate for 2026 and 2027 EPS of Plug Power witnessed no movement in the last 30 days.

BE Stock Returns Better Than Its IndustryReturn on equity (“ROE”) measures how well a company is utilizing its shareholders’ funds to generate profits. ROE compares net income with shareholders' equity.

ROE of Bloom Energy was 54.8% compared with the industry average of 7.2%.

Parting Thoughts on BEBloom Energy continues to deliver strong results, supported by rising demand for cleaner energy and its ability to provide reliable, rapidly deployable power solutions. Its customized onsite energy systems enable customers to reduce their reliance on traditional grid infrastructure, creating a solid foundation for future growth. The company also presents an attractive investment opportunity, backed by improving earnings expectations, strong share-price momentum and a return on equity above the industry average.

Thus, despite premium valuation at the current levels, we recommend investors add this Zacks Rank #1 (Strong Buy) stock to their portfolios. You can see the complete list of today’s Zacks #1 Rank stocks here.

Bloom Energy (BE +0.28%) has become a standout performer amid the booming energy demands from artificial intelligence (AI) data centers. With its fuel cells powering new data centers for industry giants like Oracle, the stock has skyrocketed 153% since the beginning of the year.

Bloom has emerged as a crucial power provider in the rapidly growing artificial intelligence sector, and over the past few years, the narrative surrounding the stock has shifted dramatically. However, it's been a volatile ride for Bloom Energy's stock, which is down 37% from its 52-week high.

With its impressive gains, investors are wondering: Can Bloom Energy keep the momentum going? Let's explore its growth prospects to find out more.

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How Bloom Energy is capitalizing on data centers' massive power needs AI data centers require a massive amount of baseload power, and those needs are only growing. According to data from Gartner, a global business intelligence firm, data center electricity consumption is projected to grow 26% from last year to 565 terawatt-hours (TWh) in 2026. Bank of America notes that the U.S. power grid could face a 100-gigawatt (GW) capacity deficit by the year 2030.

Traditional utilities could take years to bring capacity online. This is where Bloom Energy stands out. Bloom's fuel cells utilize an electrochemical process to generate electricity without combustion and can run on natural gas, biogas, or hydrogen.

Its solid oxide fuel cells can also be rapidly deployed in less than two months. This gives Bloom a massive "time-to-power" advantage, especially as many hyperscalers look to secure on-site power generation to avoid further strain on the power grid. Bloom proved its time-to-power advantage by deploying a system for Oracle Cloud Infrastructure in just 55 days, crushing its 90-day promise.

Image source: The Motley Fool.

Bloom Energy's July 28 earnings announcement revealed stellar results, with both revenue ($1.07 billion vs. $827 million consensus) and adjusted earnings per share ($0.78 vs. $0.41 consensus) coming in ahead of analyst estimates. The company also raised its revenue outlook to a range of $3.9 billion to $4.2 billion.

Strong growth is expected to continue. At the end of June, Bloom and Brookfield Asset Management expanded on their strategic partnership to finance power projects for AI infrastructure, scaling it from $5 billion to $25 billion, a fivefold increase.

Building on this momentum, on July 16, Oaktree and Industrial Development Funding (IDF) announced a $1.7 billion investment to deploy Bloom's fuel cell technology in support of Nebius's AI cloud platform compute capacity.

Is Bloom Energy stock still a buy? Bloom Energy has emerged as a massive winner from the data center energy boom, and the stock reflects that with its massive gains in recent years. However, as with most growth stocks, Bloom Energy is vulnerable to significant price swings and has a beta of 3.8, meaning it is nearly four times as volatile as the S&P 500.

With that said, as long as hyperscalers continue to build out data centers and make massive capital expenditures, Bloom Energy should continue to benefit from these historical tailwinds.

Courtney Carlsen has positions in Bloom Energy and Oracle. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Oracle. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.

The massive investment in building AI data centers is one of the biggest storylines this year. It coincides with a similar headline. Power is the biggest bottleneck in developing this crucial AI infrastructure. That's driving robust demand for all forms of power, including gas, nuclear, and battery storage.

However, data centers aren't the only AI infrastructure that requires power. The companies manufacturing the chips, servers, and other equipment vital to these facilities also need energy. That's providing an additional opportunity for Bloom Energy (BE -4.20%) to cash in on the AI power story. The hydrogen fuel cell company recently expanded its partnership with MiTAC Computing Technology, a leader in high-performance, energy-efficient server solutions for AI data centers.

Image source: Getty Images.

Setting the standard for AI onsite power beyond data centers Bloom Energy will deploy fuel cell systems for an islanded microgrid at MiTEC's AI server manufacturing campus in Fremont, California. It's an expansion of its existing partnership with MiTEC. Bloom has also installed a fuel cell microgrid at the company's San Jose manufacturing facility.

Companies like MiTEC are facing the same power constraints as AI data center developers. They need more power quickly, which is an issue given the time required for permitting and grid interconnection. They can't wait for the grid to supply their needs, which is why they're turning to Bloom Energy's rapidly deployable onsite power solutions.

MiTEC is one of the nearly two dozen AI infrastructure companies now deploying Bloom Energy's solutions. It's currently providing them with about 250 megawatts (MW) of contracted capacity, up from about zero for this segment two years ago. That's in addition to the hundreds of MWs of fuel cell technology Bloom has deployed at data centers. This number will grow rapidly, driven in part by the expansion of several strategic partnerships. Cloud giant Oracle expanded its strategic partnership with Bloom in April to deploy up to 2.8 gigawatts (GW) to accelerate AI infrastructure build-out. Meanwhile, global investment firm Brookfield Asset Management expanded its strategic AI partnership with Bloom fivefold to $25 billion in June.

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Why this matters for Bloom Energy Deploying fuel cells at data centers is a massive opportunity for Bloom Energy. Power demand by U.S. AI data centers alone could top 100 GW by 2035.

However, the overall opportunity is much larger for Bloom as the AI infrastructure megatrend extends well beyond data centers. Advanced manufacturing facilities, such as MiTEC's AI server campus, also face the same power, timing, and water constraints. Those are issues Bloom Energy's onsite power solutions address. That's adding another growth engine for the company.

Non-data-center AI infrastructure power is still a small part of Bloom's business and will remain in the shadows of that massive opportunity. However, the expansion of its partnership with MiTAC indicates that the total addressable market for Bloom's fuel cells is much larger.

Bloom is becoming the standard for AI on-site power The data center power boom will continue to dominate the headlines in the coming years as developers ink deals for all forms of electricity. However, when it comes to providing rapidly deployable power solutions, Bloom's fuel cells are becoming the standard for on-site power for companies building AI data centers and AI hardware. Bloom's ability to quietly cash in on the even larger AI infrastructure power story enhances the long-term investment thesis.

Matt DiLallo has positions in Brookfield Asset Management and has the following options: short August 2026 $150 puts on Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Oracle. The Motley Fool has a disclosure policy.

© STPDC Studio / Shutterstock.com

Bloom Energy (NYSE:BE) has been one of 2026’s most electrifying stories, riding the AI onsite-power thesis to a 151.26% year-to-date gain. After a 19.41% pullback over the past month, the setup looks compelling again.

Our 24/7 Wall St. price target for Bloom Energy is $242.95, implying roughly 11.28% upside from $218.32. The recommendation: Buy, at 90% model confidence.

24/7 Wall St. Price Target Summary Metric Value Current Price $218.32 24/7 Wall St. Price Target $242.95 Upside 11.28% Recommendation BUY Confidence 90% From $45 to $218 in a Year: The AI Power Rerating Bloom is up 494.55% over the past year and 16.02% in the last week alone, closing at $218.32 on August 3, 2026. Shares sit 22% below the $351.28 52-week high.

The Q2 2026 report on July 28 was the fourth straight EPS beat. Revenue hit $1.065 billion, up 165.5% year over year and beating consensus by 28.82%. Non-GAAP EPS of $0.78 nearly doubled the $0.41 estimate.

Product revenue jumped 215% to $935.4M, and management raised FY2026 revenue guidance to $3.9B to $4.2B. A July 8 short-seller report on scandium sourcing triggered multiple class action filings.

The Case for $315 and Above Our bull-case model points to $314.68 over 12 months, a 44.14% gain. CEO KR Sridhar told investors “all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories.”

The $5 billion Brookfield AI infrastructure partnership and Oracle customer win provide “major milestone,” anchor multi-year revenue visibility against a $20 billion total backlog. With guidance raised twice in six months and PEG at 0.864, bulls argue the stock screens cheap on growth.

What Could Go Wrong The bear case centers on valuation and litigation risk. Bloom trades at a trailing P/E of 271 and forward P/E near 79. The scandium supply-chain lawsuits have a lead plaintiff deadline of September 28, 2026.

Our bear scenario carries the stock to $179.74, a 17.67% drop. Reported EPS fell 98.8% year over year on a headline basis, though bulls counter this reflects one-time items and heavy reinvestment. Non-GAAP EPS guidance of $2.55 to $2.85 tells the truer story.

How Bloom Compares to GE Vernova and Plug Power GE Vernova (NYSE:GEV | GEV Price Prediction) sells turbines competing directly with Bloom for hyperscaler onsite-power dollars. GEV carries a forward P/E of 35, a $263.7 billion market cap, and analyst target of $1,231. Bloom’s forward multiple of 79 looks aggressive against GEV, but Bloom’s 165.5% revenue growth dwarfs GEV’s 21.9%, keeping our target defensible.

Plug Power (NASDAQ:PLUG) is the closest fuel-cell peer. PLUG posts a -$1.39 trailing EPS, operating margin of -63.6%, and market cap of just $2.87 billion. The gulf highlights how far ahead Bloom is on profitability and scale.

Bloom Energy Price Prediction 2026-2030 The 24/7 Wall St. price target of $242.95 with a buy rating and 90% confidence reflects real edge over spot, tempered by valuation risk.

The bull thesis holds if supply-chain lawsuits stay contained and Q3 delivers another guidance raise. The setup weakens if related-party Brookfield revenue shrinks or hyperscaler capex signals soften.

Year 24/7 Wall St. Price Target 2026 $242.95 2027 $242.16 2028 $269.41 2029 $290.43 2030 $312.92 These projections assume Bloom converts its $20 billion backlog into revenue at current margins. Significant upside or downside could come from AI capex cycles, IRA tax credit changes, or litigation resolution.

Contact [email protected] for any questions or corrections.

Bloom Energy shares are experiencing downward pressure. Why are BE shares declining? What Is Driving Bloom Energy’s Recent Performance?Bloom Energy last week posted second-quarter EPS of 78 cents versus a 42-cent consensus estimate, while revenue came in at $1.065 billion versus $851.4 million expected – its first quarter above $1 billion in sales.

The company also lifted FY 2026 revenue guidance to a range of $3.9 billion to $4.2 billion, while Brookfield increased its commitment to finance Bloom deployments to $25 billion from $5 billion.

What Management Is SayingBloom Energy leadership emphasized that rapid expansion across AI infrastructure is creating unprecedented structural demand for on-site power solutions.

Founder and CEO KR Sridhar highlighted the shift in market adoption during the call. “The demand for Bloom Energy’s solutions keeps accelerating every quarter as customers who traditionally defaulted to combustion technologies are now proactively choosing Bloom as a superior power solution,” Sridhar said.

“Today, all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories. Bloom is now a standard for AI onsite power.”

Sridhar underscored the urgency facing data centers, noting that “chips without power are just inventory” and contextualized the growth milestone: “It took Bloom 21 years to deliver its first billion-dollar year in 2022. It took us another three years to double our 2022 revenue. Now, we are guiding to double that revenue in just one year, having achieved our first $1 billion quarter.”

The Durability DebateBE Shares Edge Lower Wednesday MorningBE Price Action: Bloom Energy shares were down 2.77% at $221.80 during premarket trading on Wednesday, according to Benzinga Pro data.

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Bloom Energy (BE +6.08%) has been one of the hottest energy stocks to own over the past 12 months, rising around 500% during that stretch. Many growth investors see tremendous potential for the business given the mammoth energy needs of data centers, making it a compelling option for artificial intelligence (AI) investors seeking to profit from the tech build-out.

Shares of Bloom, however, have been coming under pressure in recent months, giving back some gains as broader market conditions are impacting many tech-related investments. On Monday, the energy stock closed at around $218 -- down 38% from its 52-week high of more than $351. Is now a good time to buy it?

Image source: Getty Images.

Bloom Energy's business is booming Last week, Bloom Energy reported its second-quarter earnings for the three-month period ending June 30. It was a tremendous performance for the energy company, whose revenue totaled just over $1 billion, representing a 166% year-over-year increase. On top of that, it raised its full-year guidance, now expecting revenue to be in the range of $3.9 billion to $4.2 billion, which, at the midpoint, translates to a 100% growth rate.

Bloom's CEO, KR Sridhar, says that demand "keeps accelerating every quarter" and that "Bloom is now a standard for AI onsite power." The company's solid oxide fuel cell systems can be relied on to deliver continuous electricity, making them extremely valuable for data centers. Bloom has been capitalizing on those needs as its business has taken off.

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Does the pullback in Bloom's price present a great buying opportunity for investors? Bloom's business is experiencing significant growth and is profitable, reporting $196 million in net income this past quarter, representing a solid margin of around 18%, and a big improvement from a year ago when it incurred a loss of $43 million. Its top and bottom lines have been progressing well, and if its earnings continue to improve, its valuation should look much more attractive in the future, as the big concern with Bloom is that, given its significant run-up in value, it isn't a cheap stock to own -- it trades at around 80 times its projected future earnings (based on analyst expectations).

At that kind of valuation, there's virtually no margin of safety for investors if things go awry and tech companies pull back on data center spending and investment. However, for investors willing to take on the risk and uncertainty associated with AI-related stocks, Bloom could be a compelling long-term option to consider right now.

Bloom Energy stock is taking a breather. Where is BE stock headed? What Is Bloom Energy’s Latest Quarterly Update?The latest quarterly update featured second-quarter revenue of $1.07 billion and adjusted EPS of 78 cents, both ahead of consensus expectations of $822.77 million and 40 cents. Management also lifted full-year 2026 revenue guidance to $3.90 billion to $4.20 billion and raised its adjusted EPS outlook to $2.55 to $2.85.

Bloom Energy’s tape is also being shaped by a debate over durability and performance claims after Hunterbrook pointed to 15 years of U.S. and South Korea generation data and alleged systems degrade faster than advertised.

In New York, the report calculated 37 metered systems fell below an efficiency benchmark at a median of 20 months, and said Bloom’s 95% output benchmark was missed almost universally across evaluated regions.

BE Stock: Key Technical Levels To WatchFrom a trend perspective, BE is still in a "pullback within a bigger uptrend" posture: it’s trading 10% below the 20-day SMA ($221.70), 23.5% below the 50-day SMA ($260.71), and 14.2% below the 100-day SMA ($232.50), but 11.6% above the 200-day SMA ($178.72). That mix often keeps shorter-term rallies choppy until price can reclaim at least the 20-day/100-day area.

RSI is the cleaner momentum read right now at 45.01, which points to neutral-to-soft momentum rather than an oversold "snapback" condition. In plain terms, RSI helps gauge whether recent buying or selling has become stretched; here it suggests sellers have cooled, but buyers haven’t fully taken control yet.

June marked the recent swing high (and the 52-week high at $351.28), while July set the recent swing low, so traders are watching whether the post-earnings narrative can rebuild a higher-low structure. With the stock up 470.11% over the past 12 months, the 200-day line remains the key longer-term "trend test" if volatility returns.

Key Resistance: $221.70 — the 20-day SMA is the nearest overhead trend line the stock would need to reclaim to improve the short-term tape Key Support: $178.72 — the 200-day SMA area is the main longer-term trend reference after the recent pullback Bloom Energy Benzinga Edge Rankings ExplainedBelow is the Benzinga Edge scorecard for Bloom Energy, highlighting its strengths and weaknesses compared to the broader market:

The Verdict: Bloom Energy’s Benzinga Edge signal reveals a classic High-Flyer setup—very strong Growth and Momentum paired with a weak Value score. For longer-term holders, the key question is whether fundamentals keep compounding fast enough to justify the premium while the chart works through its post-run consolidation.

Bloom Energy Stock Price Activity TodayBE Stock Price Activity: Bloom Energy shares were trading lower by 3.45% to $198.71 Monday morning, according to Benzinga Pro data.

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Artificial intelligence is driving unprecedented electricity demand for data centers. According to Gartner, a global research and advisory company, data center electricity consumption is projected to reach 565 terawatt-hours (TWh) in 2026, a staggering 26% year-over-year increase.

Power is becoming a huge hurdle for technology companies, and "time-to-power" has become the critical new bottleneck, as data center developers face agonizing multi-year waits for traditional utility grid upgrades and interconnection build-outs.

To bypass these extensive delays, operators are increasingly turning to plug-and-play power solutions like Bloom Energy's (BE +26.48%) solid-oxide fuel cells. These on-site power generators can be rapidly deployed in less than two months, and more hyperscalers are turning to Bloom's solutions to address these challenges.

Image source: The Motley Fool.

Why hyperscalers are turning to Bloom Energy's fuel cells Data centers are facing severe capacity deficits, and Goldman Sachs reports that U.S. data center demand will outpace available capacity through 2028. As a result, 30% to 50% of the large-scale data center capacity originally expected to come online in 2026 faces major delays, according to a July 2026 analysis by energy intelligence firm Currence.

The power grid is struggling to keep up. Upgrading the aging grid and adding more capacity involves costly transmission improvements and multi-year interconnection queues. In contrast, solid oxide fuel cells offer a quick-to-deploy alternative. These fuel cells run on natural gas, biogas, or hydrogen, provide reliable baseload energy, and operate independent of the electric grid.

Bloom Energy has emerged as a winner amid the data center energy crunch. The company has secured several megadeals worth billions of dollars with companies such as Oracle, Brookfield Asset Management, and American Electric Power.

The company demonstrated its time-to-power advantage in 2025 when it deployed its fuel cells for Oracle Cloud Infrastructure facilities in 55 days, well ahead of its 90-day target. This proof of concept convinced Oracle to scale up its deal to a 2.8 gigawatt (GW) master agreement. The company also recently expanded its infrastructure agreement with Brookfield Asset Management to $25 billion, a staggering increase from its $5 billion agreement from one year ago.

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In the second quarter, Bloom Energy's revenue surged 166% to $1.065 billion, marking the company's first billion-dollar quarter. Meanwhile, its blended gross margin was 34%, up by over 6% year over year, while diluted earnings per share came in at $0.62. The company raised its full-year revenue guidance of $3.9 billion to $4.2 billion, driven by booming demand from hyperscalers, neoclouds, and colocation operators.

Is Bloom Energy a buy right now? Bloom Energy's solid-oxide fuel cells address a key pain point for many data center operators, and the stock has surged 583% since the start of 2025. However, it has experienced significant volatility as investors weigh the sustainability of the hyperscaler build-out, and its stock is down 54% from its recent high of $351.

Bloom Energy is a key partner that will help data center operators meet their power demands right now. However, if broad macroeconomic stress or low returns on AI software investments cause hyperscalers to slow or pause infrastructure spending, Bloom's growth trajectory could slow significantly. That said, the ongoing AI build-out has a long runway for growth, making Bloom Energy an appealing stock for investors looking to capitalize on the explosive growth in AI infrastructure.

Courtney Carlsen has positions in Bloom Energy, Goldman Sachs Group, and Oracle. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, Goldman Sachs Group, and Oracle. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.

Speaking on the company’s second-quarter earnings call, Sridhar dismissed the industry’s tendency to celebrate years-long order books.

“Legacy suppliers celebrate backlog stretching to 2029 and beyond,” he said. “We think a four-year backlog is not a trophy; it’s a confession of constrained supply.”

The remark summed up Bloom’s broader message: in the AI economy, customers aren’t rewarding suppliers that can deliver eventually—they’re rewarding those that can deliver now.

AI Is Turning Speed Into A Competitive AdvantageBloom believes every delay in bringing power online comes at a cost for AI developers.

“Time to power is really time to token revenue,” Sridhar said, arguing that data centers cannot generate returns until electricity is available. “Chips without power are inventory, not intelligence.”

That urgency, he said, is reshaping customer behavior. Companies that once planned to rely on traditional grid connections or combustion-based alternatives are increasingly looking for on-site power that can be deployed in months rather than years.

Bloom said it has become an approved power provider for all major U.S. hyperscalers, along with more than a dozen AI labs, neocloud providers and colocation data-center operators. Sridhar also said some customers have canceled competing power solutions and switched to Bloom after concluding its systems could be deployed faster.

Scaling Before The Orders ArriveBloom says its ability to move quickly isn’t accidental. The company has been expanding its U.S. manufacturing footprint in what Sridhar described as “copy-exact” increments, allowing production capacity to scale ahead of committed orders instead of after demand materializes.

Management also pointed to financing as another competitive edge. Last month, Brookfield increased its commitment to finance Bloom deployments from $5 billion to $25 billion, while additional funding support has come from Industrial Development Funding, Oaktree, MUFG Bank and Morgan Stanley.

For investors, Bloom’s message extends beyond one earnings quarter. The company is betting that as AI infrastructure spending accelerates, the winners won’t necessarily be the suppliers with the fullest order books—they’ll be the ones capable of turning power into a deployable product before customers start looking elsewhere.

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Bloom Energy (BE - Free Report) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.1 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this developer of fuel cell systems would post earnings of $0.09 per share when it actually produced earnings of $0.44, delivering a surprise of +388.89%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Bloom Energy, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $1.07 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 30.88%. This compares to year-ago revenues of $401.24 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Bloom Energy shares have added about 116.6% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Bloom Energy?While Bloom Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Bloom Energy was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $926.58 million in revenues for the coming quarter and $2.10 on $3.72 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Energy Vault Holdings, Inc. (NRGV - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 11.

This company is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +9.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Energy Vault Holdings, Inc.'s revenues are expected to be $17.3 million, up 103.3% from the year-ago quarter.

Bloom Energy (BE -11.81%) stock went parabolic, with investors anticipating billions in revenue coming from data center operators using its fuel cells. As with most moves like that, reality is setting in after too much growth was priced into the stock.

Now, Bloom shares have been more than cut in half since they reached an all-time high last month. That includes the 13.8% tumble the stock had today as of 10:15 a.m. ET.

Image source: Getty Images.

What will earnings bring? Bloom will report second-quarter financial results after the market closes today. Even after the stock has crashed from the June high, Bloom shares are still up by over 80% this year. Some investors who are getting nervous that the growth story might not pan out as anticipated are locking in the large 2026 gains, it seems.

The Bloom Energy story relies on big tech continuing to increase capital spending to build out data center compute capacity. Much of the stock's gains came after announcements of plans to build and finance power for data centers, with billions of dollars being allocated. In late June, Bloom and Brookfield Asset Management announced an expansion of their strategic data center partnership. The original $5 billion in planned financing was quintupled to $25 billion.

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Yet there are still concerns among investors that those plans will fizzle out, leaving Bloom without billions in orders that were already priced into the stock. Don't expect Bloom management to sound pessimistic in its report later today, though. Hyperscalers and AI infrastructure developers are still announcing spending increases. And while Bloom stock got ahead of itself, the recent correction is exactly what investors should want to see.

If Bloom's capacity expansion plans remain intact with order backlogs filling its production lines, now may be a good time to own Bloom stock at a much more reasonable valuation.

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy and Brookfield Asset Management. The Motley Fool has a disclosure policy.

Bloom Energy stock rose by over 5% in the premarket session as investors bought the dip ahead of the upcoming financial results on July 28. It rose to $194.5, up modestly from Friday’s low of $184. Even so, the stock remains nearly 50% below the highest point this year. So, will it rebound or continue falling further?

Bloom Energy is one of the fastest-growing companies in the energy industry, where it is used by firms across various industries like power and data centers. It generates electricity using solid oxide fuel cells (SOFCs), an electrochemical process rather than combustion.

The company has benefited substantially from the ongoing data center boom as electricity demand has surged. It has inked major deals with companies like Oracle, Nebius, and Brookfield. 

READ MORE: Bloom Energy stock has slumped: buy the dip or sell the rip ahead of earnings?

As a result, analysts expect its business to continue growing as the number of data centers in the US rise. The average estimate among analysts is that its revenue jumped by 106% in the second quarter to $827 million. 

For the third quarter, analysts expect the results will show that revenues jumped by 80% to $933 million. These are strong numbers for a company that has been in the industry for over two decades.

The annual revenue is expected to move from $2.02 billion last year to $3.74 billion this year. This growth is expected to accelerate next year, reaching $6.46 billion as it starts making money from its recently announced deals.

The most recently announced results revealed that Bloom Energy’s revenue jumped by 130% YoY to $750 million. Its gross margin also continued rising, reaching 30%, while the operating income hit $72.2 million.

Analysts are largely optimistic about Bloom Energy stock as the AI boom gains momentum. For example, JPMorgan boosted its target from $267 to $346, while Susquehanna boosted the target from $293 to $298. Baird sees the stock rising to $310, with the consensus target among analysts being $254. 

The options market, however, expects heightened volatility after its earnings release this week. It has an implied volatility of 264%, with its open interest rising to 160,000. It has a put/call ratio of 2.65, a sign that there are more puts than calls, which is usually highly bearish sign.

Bloom Energy stock chart | Source: TradingView

The daily chart shows that the BE stock has plunged from the year-to-date high of $350 to a low of $184.90. It is hovering around the strong, pivot, reverse level of the Murrey Math Lines tool.

The stock has plunged below the crucial support level of $231, its lowest level on June 10 this year. It remains below the 100-day moving average, while the Average Directional Index (ADX) has jumped to 25, its highest level since June 3. 

Therefore, the stock will likely continue falling after its earnings this week. If this happens, the stock may fall to the ultimate support of $125. However, a rebound, potentially to the Major S/R pivot point is possible after earnings.

HomeStock IdeasLong IdeasIndustrial 

SummaryBloom Energy is positioned as a critical AI infrastructure enabler, addressing hyperscaler power constraints with modular, on-site fuel cell solutions.Q1 2026 results proved BE’s scalable model, with 130% YoY revenue growth, expanding margins, and credible upward guidance for 2026.Strategic partnerships—especially Brookfield’s $25B commitment and Oracle’s multi-GW deployments—underscore BE’s moat in rapid, financed power delivery.Despite valuation volatility and customer concentration risks, BE’s operational leverage and AI-driven demand support a long-term Buy rating. da-kuk/E+ via Getty Images

Elevator Thesis The conversation around AI infrastructure has changed, to say the least.

Semiconductors remain important as Nvidia (NVDA) continues to scale supply, and Taiwan Semiconductor (TSM) continues to add

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Artificial intelligence has turned power infrastructure into one of the market’s hottest investment themes in 2026. As hyperscale data centers multiply, companies that can supply electricity quickly have become Wall Street favorites. That enthusiasm has lifted everything from utilities to turbine manufacturers and fuel cell providers. 

Yet the same growth story that fueled many of those gains is beginning to run into a less predictable obstacle: local opposition. For investors, the next phase of the AI infrastructure buildout may depend as much on regulators and communities as it does on technology. That shift matters for Bloom Energy (NYSE:BE).

Momentum Is Moving the Wrong Direction Bloom Energy has delivered an enviable return in 2026, with the stock climbing 149% year to date. Yet that headline figure hides a growing loss of momentum. Shares now sit roughly 39% below the June peak after investors began reassessing how quickly the company’s biggest opportunities can translate into revenue.

The first blow came earlier this month when a short seller questioned Bloom’s long-term growth assumptions and customer concentration. While the market didn’t fully embrace the bearish thesis, it added another layer of uncertainty just as expectations for AI infrastructure spending had become increasingly optimistic.

Now another development has put the spotlight back on execution risk.

Project Jupiter Faces Another Roadblock Oracle‘s (NYSE:ORCL | ORCL Price Prediction) proposed Stargate campus in New Mexico, called Project Jupiter, represents a planned $165 billion investment, making it one of the largest AI infrastructure projects under development. The project originally planned to rely on a natural gas-fired power plant, but following concerns from local officials and residents over emissions and water consumption, that was abandoned in favor of deploying up to 2.45 gigawatts of Bloom Energy’s solid oxide fuel cell technology.

That made the project one of Bloom’s most visible growth opportunities. Unfortunately for shareholders, the project was rejected by New Mexico regulators for a second time. Although the fuel cell approach remains under consideration, the required air permit application is still pending. The New Mexico Environment Department has ordered a public hearing, but as of mid-July no hearing date has been scheduled.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bloom Energy didn't make the cut. Grab the names FREE today.

That doesn’t necessarily kill the project. It does push revenue further into the future, which matters for a stock priced around aggressive growth expectations.

A Bigger Trend Could Matter Even More Project Jupiter may be only one facility, but it highlights a broader challenge. Communities across the country are becoming more vocal about data center construction because of concerns over electricity demand, water consumption, land use, and environmental impacts. Until recently, most opposition remained local.

Now the issue has expanded. New York recently became the first state to approve a one-year statewide moratorium on new data center construction, raising the possibility that other states could adopt similar policies.

For Bloom Energy, that’s an important development because its growth narrative depends heavily on the rapid expansion of AI data centers. Delays don’t eliminate demand for electricity, but they can postpone orders for fuel cells, stretching out revenue recognition and making quarterly growth less predictable.

Key Takeaway In short, Bloom Energy remains well positioned to benefit from AI-driven power demand, and its fuel cell technology still offers advantages over traditional natural gas generation in locations where emissions and water use are major concerns. That said, investors should recognize that regulatory approvals are becoming just as important as technological advantages.

A 149% gain this year shows investors continue to believe in Bloom’s long-term opportunity. A 39% decline from its June high shows the market is also beginning to price in execution risk. Ultimately, if more data center projects encounter permitting delays or community resistance, Bloom’s growth could arrive more slowly than many shareholders have been expecting. That’s a risk investors shouldn’t ignore, even if the long-term demand for AI power infrastructure remains intact.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bloom Energy didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

, /PRNewswire/ -- Industrial Development Funding ("IDF") and Oaktree today announced $1.7 billion in project investment as part of a broader commitment to support the deployment of Bloom Energy's (NYSE: BE) fuel cell technology for the build-out of AI cloud infrastructure. Once complete, the project will provide dedicated behind-the-meter power, helping Nebius meet demand for the compute capacity underpinning its AI cloud platform. Nebius selected Bloom for its speed to power, clean technology, and ability to support the performance and availability demands of AI workloads.

IDF is the lead developer of the Nebius project, with minority equity participation from Oaktree. Morgan Stanley served as sole tax equity investor and placement agent for the tax equity financing, and MUFG Bank provided the senior debt financing.

"By bringing together institutional capital and critical power infrastructure, IDF and Bloom are unlocking the next generation of energy solutions and are proud to help Nebius meet the energy demands of the AI economy," said Nik Nunes, Chief Executive Officer of IDF.

Austin Pearson, Oaktree Managing Director, said, "Oaktree is focused on investing in infrastructure assets delivering critical power to the digital space. This transaction reflects our confidence in Bloom's fuel cell technology and those relying on it."    

"AI infrastructure customers need more than innovative technology," said Aman Joshi, Chief Commercial Officer of Bloom Energy. "They also need a path to finance and deploy power rapidly. Our collaboration with IDF demonstrates how institutional capital can help accelerate the build-out of AI infrastructure."

"Morgan Stanley is proud to partner with IDF, Bloom Energy and Nebius on this landmark behind-the-meter transaction delivering rapid power solutions to critical AI infrastructure," said Jorge Iragorri, Co-Head of Infrastructure Capital Markets at Morgan Stanley.

"MUFG is pleased to support Nebius, IDF, and Bloom on this landmark transaction, which provides an innovative and efficient solution for data center power demand while meeting the needs of the local community," said Fred Zelaya, Managing Director – Project Finance.

Today's announcement reflects IDF's broader strategy to invest in clean energy, digital infrastructure, transportation, and industrial sectors through bespoke capital solutions. It expands collaboration between IDF and Bloom Energy that has enabled multiple transactions and a diversified portfolio of over $2.6 billion in Bloom Energy projects.

About Industrial Development Funding
Industrial Development Funding, LLC ("IDF") is an investment advisor registered with SEC that manages capital for Qualified Institutional Buyers. IDF's proprietary funding solutions enable large industrial companies to sell existing products or introduce new products to the marketplace. IDF provides bespoke capital solutions to companies across the digital infrastructure, power and transportation sectors. Website: www.indevfunding.com.

About Oaktree Capital Management
Oaktree is a leader among global investment managers specializing in alternative investments, with $224 billion in assets under management as of March 31, 2026. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,500 employees and offices in 26 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.

Media contacts
Industrial Development Funding
Doug Rivenburgh ([email protected])

Oaktree Capital Management
Rachel Wood ([email protected])

SOURCE Industrial Development Funding, LLC

Editor’s note: This story has been updated to include a statement from Bloom Energy.

Bloom Energy told Benzinga that the company is aware of the report “published by a media outlet affiliated with an investment firm that has disclosed it may hold positions designed to profit from a decline in Bloom’s stock,” and plans to issue a response.

“We are reviewing the report and will correct the record. Bloom’s fuel cell platform is supported by a diversified, multi-country supply chain built over two decades, long-standing commercial relationships, and proprietary materials-recovery technology, as described in our public filings and our July 7 blog post on scandium oxide,” a Bloom Energy spokesperson said.

Executive Supply Chain Claims ContradictedThe decline follows findings by Hunterbrook challenging statements made by Bloom Energy CEO KR Sridhar regarding the company’s independence from Chinese materials.

Sridhar stated during an April 2025 earnings call, “We are not dependent on China for scandium,” adding, “there is no China supply chain for us.”

However, global trade data, corporate filings, and satellite imagery analyzed by the news outlet indicate that the fuel-cell manufacturer continues to rely on Chinese-sourced scandium, said Hunterbrook.

Hidden Routes And Supplier ConnectionsHunterbrook traced four separate China-linked routes delivering scandium into the manufacturer’s supply chain.

Deliveries involve direct shipments of scandium oxide from Hunan Oriental Scandium to a Delaware plant, as well as intermediaries routing materials through Thailand, Japan, and South Korea.

A sales representative from Hunan Oriental Scandium told reporters, “We are also BE’s largest supplier of scandium,” noting the material is “not exported directly.”

Widening Deficits And Delayed ProjectsHunterbrook’s supply-demand model indicates a looming global deficit for fuel-cell-grade scandium oxide.

The research shows Bloom Energy alone requires roughly 220 tons of scandium oxide to meet the 5 gigawatt production expectations modeled by Wall Street, while the total projected global supply reaches approximately 240 tons.

BE Stock Price Activity: Bloom Energy shares were down 9.89% at $242.91 at the time of publication on Wednesday, according to Benzinga Pro data.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Shares of Bloom Energy (BE 6.47%) are up more than 250% so far this year. That quick rise may make some investors cautious, but there are plenty of solid reasons for the stock's ascendance. The company is at the nexus of renewable energy and artificial intelligence (AI), as its fuel cell energy solutions are increasingly used by hyperscalers to address bottlenecks in powering new data centers.

Are there risks to the stock? Most definitely. It trades at more than 140 times forward earnings, as investors have largely priced in its backlog. Even so, here are three reasons why Bloom Energy is worth buying -- and why the stock should continue to generously reward investors.

Image source: Getty Images.

Bloom's solid oxide fuel cells can be deployed quickly Microsoft, Alphabet, Meta Platforms, and Oracle are spending billions on next-generation AI data centers, but traditional electrical grids are severely bottlenecked. Expanding a localized grid or waiting on a nuclear plant can take years.

Bloom's solid oxide fuel cells generate on-site electricity and can be deployed and operational in as little as 90 days. By bypassing traditional power grids, tech companies ensure their high-dollar AI chips don't sit idle waiting for power.

These fuel cells use renewable natural gas, biogas, or hydrogen, converting it to electricity without combustion and with minimal carbon dioxide emissions.

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It has a huge backlog with big tech Bloom's growth is no longer a speculative story; it is backed by concrete, massive commercial contracts. As of the end of 2025, the company said it had a backlog of $20 billion, including a product backlog of $6 billion.

In April, Bloom expanded its agreement with Oracle to support up to 2.8 gigawatts (GW) of fuel cell capacity. This includes Project Jupiter, a massive, multigigawatt AI data center campus in New Mexico that runs entirely on Bloom fuel cells rather than traditional gas turbines or diesel generators.

In May, Bloom secured a 328-megawatt (MW) deployment deal with AI infrastructure company Nebius, providing deep multiyear visibility for revenue generation.

It has reached a financial turning point Historically, fuel cell companies have struggled to turn a profit despite rising revenue. Bloom is actively breaking out of that mold, showcasing real operating leverage. In its first-quarter earnings release, Bloom reported a record $751.1 million in revenue, a massive 130.4% year-over-year increase.

Driven by manufacturing-scale benefits, its gross margin expanded beyond 30%, allowing the company to report net income of $70.6 million, up from a loss of $19.1 million in the first quarter of 2025. Earnings per share (EPS) were $0.23, compared to an EPS loss of $0.10 in the same quarter a year ago, while adjusted EPS was $0.44.

The earnings were a surprise to some analysts, who had predicted revenue of $539.94 and adjusted EPS of $0.12. The numbers were strong enough to prompt management to raise its full-year revenue guidance to $3.4 billion to $3.8 billion, an increase of 80% at the midpoint, and to raise adjusted EPS to between $1.85 and $2.25, up 170% at the midpoint.

Things to look out for Bloom has a few issues, but they're mostly good concerns. The company will have to spend to double factory capacity from 1 gigawatt to 2 gigawatts by the end of 2026. It also faces competition from Plug Power and FuelCell Energy.

The premium attached to Bloom Energy is massive and introduces considerable valuation risk, but it is supported by triple-digit revenue growth and positive cash generation, whereas Plug Power is an improving turnaround play with tight cash constraints, and FuelCell Energy remains trapped in a pattern of shrinking revenue and widening losses.

In the long run, given the push for renewable energy and the way AI is driving the need for more data centers, Bloom is in a good spot to benefit from long-term trends.

Key Takeaways Bloom is a microcosm of how AI-bearish economists & analysts have missed the fundamental demand driversWatch my video to see where I have identified key "buy zones" for Bloom Energy (BE) in May and JuneBrookfield CEO Bruce Flatt, the financier of AI infrastructure investing, just 5X'ed his Bloom bet I have written about Bloom Energy ((BE - Free Report) ) several times recently as the Bull of the Day. And it seems like every other week gives me a new to reason to update this incredible growth story with bullish deal news and a fresh angle on a 21st century American company that evolved from fringe obscurity and Wall Street disbelief to a profitable large cap provider of clean, mobile, on-demand energy for datacenters.Cutting to the chase, the two big news items for Bloom in the past week were (1) inclusion into the Russell 1000 large cap index (a metrics-based index unlike the S&P 500's "committee" selection) and (2) an expansion of their AI infrastructure partnership with Brookfield (

(BN - Free Report) ) to $25 billion -- a fivefold increase since their initial strategic alliance in October!From the June 30 press release...

"The expanded partnership reflects strong and sustained demand from hyperscalers and AI infrastructure developers for fast, reliable, and community-friendly power. It brings together Brookfield’s global leadership in AI infrastructure development, access to capital, and operating scale with Bloom’s rapidly deployable onsite power platform. Together, the companies continue to advance a new model for AI factories that integrates power, compute, data center infrastructure, and capital from the outset."

And this statement from Sikander Rashid, Head of AI Infrastructure at Brookfield, sums up the vision and strategy of the $1 trillion asset manager as they seek to become an integral part of the AI buildout, behind the scenes of the "hyperscaler" headlines...

“Scaling our commitment with Bloom Energy reflects both the strength of this partnership and the conviction behind our broader AI infrastructure strategy, including integrated compute. Scaling this partnership further strengthens Brookfield’s position as one of the leading global AI infrastructure investors, capable of delivering end-to-end solutions, from electrons to tokens, for some of the world’s most sophisticated customers.”

Regarding the Russell rebalance that occurred last weekend, it created a great opportunity to buy more BE shares as the stock had just made new highs on Thursday June 25 above $350 and then reversed hard into Friday as Russell 2000 small-cap managers and benchmarkers had to sell their shares.

Investors who jumped on prices below $275 will be well-rewarded, just as my TAZR Trader group has been buying on every dip under $250. Indeed, on Thursday July 1, Evercore ISI raised their price target on BE to a new Street-high of $350 and I think that will be eclipsed again before the year is done.

Evercore analyst Nicholas Amicucci said that Bloom’s ability to provide reliable, dispatchable power to a "volatile demand profile" differentiates it from competitors.

From Electrons to Tokens

Bloom Energy empowers enterprises to meet soaring energy demands and responsibly take charge of their power needs. The company’s solid oxide fuel cell (SOFC) systems provide ultra-reliable, clean, and highly scalable onsite electricity using natural gas and hydrogen for combustion-free fuel.

Bloom has Fortune 500 customers around the world, including data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors as well as mission-critical organizations in local communities, such as hospitals, college campuses and retailers. Headquartered in Silicon Valley, Bloom Energy employs more than 2,000 people worldwide and manufactures its systems in the United States.

The gap that Bloom fills right now sits between surging demand for fast, on-site, "behind the meter" (off-grid) power and how long it takes to get permits and hardware for either gas turbines from GE Vernova (

(GEV - Free Report) ) or power connections to local grids. Bloom's SOFCs can be installed in less than 90 days. Semiconductor engineer, analyst, and investor Ben Pouladian (@benitoz on X), who often gets access to key NVIDIA (

(NVDA - Free Report) ) technology leaders, posted this on X June 30..."Brookfield just took its Bloom Energy commitment from $5B to $25B in eight months. Fivefold.

Read the quote, not the headline

Brookfield's head of AI infra: "end to end solutions, from electrons to tokens"

That is the Electrons To Tokens trade. A trillion dollar allocator bought the front of the Token Dollar loop, the behind the meter watt. The fifth straight deal into the same name in eight months

Same loop. Now with a buyer naming it."

What he means by "fifth straight deal" is that Bloom has also been inking key partnerships with other energy infrastructure players like AEP. In January, American Electric Power (

(AEP - Free Report) ) announced a $2.65B SOFC deal with Bloom. You can read more about that AEP deal, plus notes from Bloom's 2026 Data Center Power Report, in this June 16 Bull of the Day article where I describe that "Bloom's story is a microcosm of how the AI-bearish economists & analysts have missed the fundamental demand drivers."

And here's my recent video on Bloom where I identified key "buy zones" for BE in May and June.

Rocket Scientist Takes On the Skeptics 

To truly appreciate where Bloom sits today, you have to look back at the roots of KR Sridhar's vision -- which actually started on another planet.

Before he was a Silicon Valley entrepreneur, KR Sridhar was a literal rocket scientist. He grew up in India, experiencing the frequent, unpredictable power grid failures common to the region at the time. After moving to the U.S. and earning his PhD in mechanical engineering, he became the director of the Space Technologies Laboratory at the University of Arizona.

In the 1990s, Sridhar led a project for NASA to build an oxygen-generating machine for a future manned mission to Mars. His device used a solid oxide ceramic technology: it took in the carbon dioxide from the Martian atmosphere, pumped in electricity, and split the molecules to generate breathable oxygen.

But in 1999, the Mars Polar Lander crashed. NASA subsequently canceled the mission, and Sridhar's project was effectively mothballed.

Instead of letting the technology die, Sridhar had an epiphany: He realized he could run the entire process in reverse. If you take that exact same solid oxide ceramic material, feed oxygen into one side and a fuel source (like natural gas or hydrogen) into the other, it creates a chemical reaction that produces electricity -- without combustion, without smoke, and entirely off the traditional transmission grid.

In 2001, he co-founded Ion America (later renamed Bloom Energy).

The Era of Total Secrecy & Skepticism

For nearly a decade, Bloom Energy operated in absolute stealth mode. Sridhar’s headquarters had no sign on the building, a completely cryptic website, and zero public progress reports.

The skepticism from the energy sector and Wall Street during this era was immense. Fuel cells had long been considered the "Holy Grail" of clean tech, but they were notoriously plagued by three massive roadblocks:

>>Cost: Traditional fuel cells required precious metals like platinum.
>>Durability: Early iterations degraded rapidly, sometimes lasting less than two years.
>>Scale: They simply couldn't generate enough continuous, reliable baseline power to justify their massive price tags.

Most experts assumed Bloom was just another Silicon Valley "fake-it-till-you-make-it" hype machine backed by venture capital.

The Infamous 2010 60 Minutes Unveiling

The curtain finally lifted in February 2010, when Sridhar invited 60 Minutes correspondent Lesley Stahl into his lab for the first-ever public look at the "Bloom Box."

The segment became an instant piece of Silicon Valley lore. Sridhar demystified the "secret sauce," showing Stahl how he baked everyday sand into thin ceramic squares and painted them with green and black proprietary inks. Instead of platinum, Sridhar utilized a cheap metal alloy to separate the disks.

During the broadcast, Sridhar and his legendary venture capital backer, John Doerr, laid out an incredibly ambitious, and highly criticized, vision:

"The Bloom box is intended to replace the grid... for its customers. It's cheaper than the grid, it's cleaner than the grid."

~John Doerr to Lesley Stahl, 2010Sridhar confidently predicted that within five years, a small, $3,000 version of the box would sit in every American backyard, powering homes completely wirelessly.

The Backlash

The 60 Minutes episode was treated as a massive teaser just ahead of their official corporate launch, but it also painted a target on Bloom's back. Critics noted that early large-scale units cost upwards of $700,000 to $800,000 each. The dream of a cheap consumer backyard box never materialized.

For years after that interview, Wall Street disbelief grew. Detractors pointed out the heavy reliance on state and federal clean-energy subsidies, brief product lifespans, and billions of dollars in cumulative corporate losses as proof that the technology "would never work" profitably at scale.

The Data Center Redemption Arc

What critics in 2010 didn't fully anticipate was how the nature of electricity demand would evolve. Bloom's initial residential dream faded, but Sridhar pivoted aggressively toward enterprise, industrial, and mission-critical commercial buyers who cared less about cheap backyard novelties and more about uninterrupted baseline power.

Early testers mentioned in that 60 Minutes piece -- like Google, eBay, and FedEx -- were looking for alternative, efficient footprints. eBay's CEO noted at the time that just five Bloom Boxes on their campus produced five times as much usable, consistent 24/7 electricity as their entire footprint of over 3,200 rooftop solar panels.

Fast forward to today, and that 24/7, high-efficiency footprint is exactly why Bloom has transitioned from a speculative clean-tech longshot into a large-cap player. With the explosion of AI datacenters drawing immense amounts of power from already strained regional grids, Sridhar's long-fought, multi-decade struggle to perfect solid oxide fuel cells has found its ultimate product-market fit.

Reminds me of another rocket scientist named Elon who the experts laughed at.

Kevin Cook is a Senior Stock Strategist for Zacks Investment Research where he runs the TAZR Trader portfolio and has been investing in Bloom Energy (BE - Free Report) since $70. TAZR also owns other key AI infrastructure players like NVDA, TSM, MU, LITE, and OUST.

© audioundwerbung / iStock via Getty Images

FuelCell Energy (NASDAQ:FCEL) stock is up 23% to $36.64 in early Tuesday trading, extending a powerful June rally. Bloom Energy (NYSE:BE) stock is up 7% to $293.61, climbing in sympathy with the broader fuel-cell complex.

Plug Power (NASDAQ:PLUG) stock is up 5% to $2.72, a decent-sized move but PLUG is still a relative laggard amid the sector-wide rally. The fresh catalyst is FuelCell Energy’s inclusion in the Russell 2000 and Russell 3000 indices in the latest reconstitution.

Both names entered today’s session with enormous gains already on the board. FuelCell Energy stock is up 346% year to date, while Bloom Energy stock is up 233% over the same window. A single-session move tied to a mechanical index event doesn’t by itself change the long-term thesis.

Russell Inclusion Adds to an Already Stacked Catalyst List Russell inclusion puts FuelCell Energy on the radar of passive index funds and ETFs benchmarked to the Russell 2000 and Russell 3000. That mechanical flow lands on top of an unusually loaded news week for the company.

Last week, FuelCell Energy announced a landmark agreement to supply Fit Energy up to 380 MW of power solutions for AI data centers and digital infrastructure. The company also secured a $49 million non-dilutive financing package from the U.S. Export-Import Bank to deploy five 2.8 MW energy blocks for Gyeonggi Green Energy in South Korea, with two tranches running through October.

Analyst sentiment has flipped quickly. B. Riley upgraded FuelCell Energy stock to Buy from Neutral and more than doubled its price target to $32 from $13. Jefferies upgraded the stock to Buy, noting that FuelCell trades at a significant discount to Bloom Energy, while UBS reiterated a bullish stance citing the Fit Energy deal and plans to scale Torrington manufacturing to 500 MW annually.

Retail message volume around FuelCell Energy is reportedly up over 1,000% in 24 hours, with traders openly comparing the setup to Bloom Energy’s earlier playbook. That’s community sentiment, not an established fundamental driver, and investors can treat it accordingly.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Plug Power didn't make the cut. Grab the names FREE today.

BE and PLUG Rebound After Last Week’s Selloff Bloom Energy stock sold off last week as profit-taking gripped the high-flyer. Today’s 7% bounce looks like a relief rebound paired with sympathy buying as the fuel-cell narrative draws fresh attention.

The underlying business remains the strongest in the peer group. Bloom Energy reported Q1 FY2026 revenue of $751 million, up 130% year over year, and raised full-year revenue guidance to a range of $3.4 billion to $3.8 billion.

There’s no fresh Bloom Energy-specific catalyst today. The stock is trading on sector momentum, technical mean reversion, and the halo from FuelCell Energy’s index news rather than any new business development. Plug Power stock also appears to be catching a sympathy bid, at least for today’s session, after a last week’s rocky ride.

What to Watch Index-driven flows tend to peak around the reconstitution print and fade quickly afterward. Investors can watch for whether FuelCell Energy stock holds today’s gains into the close or gives ground into the afternoon as the mechanical bid clears.

Volatility is the rule with these names. FuelCell Energy carries a beta of 2.4 and remains loss-making, with the latest quarter weighed down by a $43 million non-cash impairment. Investors may want to keep their position sizes modest given the speed of the move and the mechanical nature of today’s catalyst.

The next real test for FuelCell Energy comes from execution on the Fit Energy ramp and conversion of the 4 GW proposal pipeline into firm backlog. Traders can keep an eye on FuelCell Energy stock through the afternoon, while longer-term holders may focus on contract conversion rather than index mechanics.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Plug Power didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

Bloom Energy's (BE +7.03%) stock has transformed from being an overlooked fuel cell company to one of the most closely watched artificial intelligence (AI)-driven power plays.

Shares of the company are up nearly 275% so far in 2026, pushing the market capitalization to about $93 billion. This is a steep valuation for a company guiding for $3.4 billion to $3.8 billion in fiscal 2026 revenue.

So the question is whether Bloom's AI power opportunity can justify its valuation.

Image source: Getty Images.

Bloom is solving a real AI infrastructure problem AI data centers need massive amounts of reliable power, and the electricity grid cannot always provide it quickly. The International Energy Agency expects global data center electricity use to roughly double from 2024 levels to around 945 terawatt-hours by 2030.

Bloom's on-site fuel cell systems are increasingly relevant, as they can help customers add power faster than waiting for new grid infrastructure. Oracle has already signed up for an initial 1.2 gigawatts of Bloom's fuel cell capacity for projects in the U.S., with the broader agreement leaving room for that figure to rise to as much as 2.8 gigawatts. The company claimed that it delivered a fully operational Oracle fuel cell system in just 55 days in 2025, ahead of the expected 90-day schedule.

Oracle, BorderPlex Digital Assets, and Bloom's Project Jupiter further strengthen the story. The New Mexico AI data center campus is expected to use up to 2.45 gigawatts of Bloom fuel cell capacity instead of planned gas turbines and diesel generators. The setup could provide faster onsite power, dramatically lower local emissions, and use negligible water.

Additionally, Brookfield Asset Management plans to invest up to $5 billion to deploy Bloom's technology for AI infrastructure. American Electric Power has agreed to buy up to 1 gigawatt of Bloom fuel cells, starting with a 100-megawatt order. Hence, electric utility companies and infrastructure investors are also seriously considering Bloom.

The financials are also improving. In the first quarter , Bloom's revenue rose 130.4% year over year to $751.1 million. Gross margin reached 30%, operating margin was 17.3%, and operating cash flow was $73.6 million. Bloom also exited fiscal 2025 with roughly $6 billion of product backlog and $14 billion of service backlog.

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Risks cannot be ignored Bloom currently trades at a rich valuation of nearly 38 times trailing 12-month sales. The company is also exposed to significant customer concentration risk. In Q1, two customers accounted for about 50% and 12% of total revenue.

So while Bloom has become a major AI infrastructure supplier with strong customer validation and rapidly improving numbers, the easy money may already have been made after its sharp 2026 rally. Investors interested in the stock may be better off building a position gradually, rather than buying aggressively after such a large move.

Manali Pradhan, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Oracle. The Motley Fool has a disclosure policy.