Bloom Energy Shares Surge 16% Amid Data Center Power Demand
The solid-oxide fuel cell manufacturer reported record revenue of $1.24 billion, a 138% increase year-over-year
By mid-trading, Bloom Energy shares had risen by approximately 16%, while shares of other energy suppliers for artificial intelligence infrastructure also climbed. The catalyst was a report from CoreWeave, whose results eased investor concerns about financing data center construction.
In the third quarter, Bloom Energy achieved record revenue of $1.24 billion, a 138% increase compared to the previous year. The company raised its 2026 revenue forecast for the third time this year, to $4.4–4.6 billion, and was included in the S&P 500 index. However, operating cash flow remained negative at $27.1 million.
Bloom Energy CEO K. R. Sridhar stated during an investor meeting on October 22 that demand for electricity will grow not only due to AI but also from other segments of the digital economy. According to Evercore analyst Nicholas Amicci, CoreWeave’s comments on pricing indicate that demand continues to outpace available supply. He believes that the speed and certainty of power connectivity will remain key advantages for a long time.
The positive reaction to CoreWeave’s report also supported Nebius Group, a major client of Bloom Energy. The company is set to release its financial results on Thursday.
Earlier this month, Bloom entered into a non-binding agreement with California Resources Corporation to explore carbon capture projects in California. Later, the company agreed with Japanese technology group NTT to supply fuel cells for several NTT Data Group data centers worldwide.
