Key Takeaways
- Shares of Bloom Energy surged 12.7% to $238 on Wednesday, reaching an intraday peak of $249.99.
- AI infrastructure firm Nebius selected Bloom as its behind-the-meter energy provider for a 300-megawatt AI facility located in Vineland, New Jersey.
- The company also strengthened its collaboration with MiTAC, installing a fuel-cell microgrid at an AI server production facility in Fremont, California.
- Second-quarter revenue reached $1.07 billion, representing a 165.5% year-over-year increase and surpassing analyst projections of $826 million. Earnings per share of $0.78 significantly exceeded the anticipated $0.39.
- Leadership elevated full-year 2026 revenue projections to a range of $3.9 billion to $4.2 billion, compared to the previous forecast of $3.4 billion to $3.8 billion.
Shares of Bloom Energy experienced a substantial 12.7% rally to $238 during Wednesday’s trading session, touching an intraday high of $249.99, following the announcement that AI infrastructure provider Nebius has designated the company as its energy partner for a significant data center initiative. Trading volume exceeded 15 million shares, approximately 21% higher than typical levels.
According to Nebius, Bloom’s advanced fuel-cell infrastructure will supply electricity to its upcoming 300-megawatt AI data center facility in Vineland, New Jersey. While the initiative has encountered some resistance from local communities regarding permits and environmental impact, Nebius emphasized that Bloom’s low-emission, distributed power solution effectively mitigates these concerns.
Andrey Korolenko, Nebius’s head of product and infrastructure, commented: “Bloom fuel cells deployment should be fast. Overall, the switch to Bloom has been a variable and a good pivot for the project, we believe.”
The company is currently awaiting final authorization for an amended site plan. Leadership indicated that the public hearing represents a routine procedural requirement already incorporated into the project schedule. The primary facility structure was finalized earlier this summer, with internal engineering efforts currently underway.
Nebius shares also experienced notable gains, climbing over 28% following disclosure of a 454% quarterly revenue increase.
Dual Agreements Highlight Growing Demand
The Nebius partnership wasn’t the sole driver of investor enthusiasm. Bloom simultaneously announced an expansion of its existing relationship with MiTAC Computing Technology, implementing a fuel-cell microgrid system at an AI server production campus located in Fremont, California.
Chief Executive KR Sridhar stated that Bloom’s solutions are emerging as “the standard” for distributed AI power infrastructure, highlighting the technology’s capacity to accelerate data center construction schedules and provide dependable electricity in areas where grid availability is constrained.
Analyst sentiment remains predominantly positive. BTIG Research maintains a buy recommendation with a $295 price objective. Clear Street elevated its rating to strong buy. Mizuho shifted from neutral to outperform. Royal Bank of Canada carries an outperform designation with a $335 target. The mean analyst price projection stands at $246.18, while the comprehensive TipRanks consensus average reaches $271.58.
Current Wall Street coverage includes three strong buy recommendations, ten buy ratings, twelve hold positions, and one sell rating, resulting in a “Moderate Buy” overall consensus for BE.
Exceptional Quarterly Performance Set the Stage
Prior to Wednesday’s rally, Bloom had already delivered impressive financial metrics. During its latest reporting period, the company posted earnings per share of $0.78, precisely double the Wall Street consensus projection of $0.39.
Quarterly revenue totaled $1.07 billion, substantially exceeding analyst expectations of $826 million and reflecting a 165.5% increase versus the comparable period one year earlier. The quarter represented Bloom’s inaugural achievement of surpassing $1 billion in revenue within a three-month period.
Based on these strong results, management increased its full-year 2026 revenue outlook to a range spanning $3.9 billion to $4.2 billion, revised upward from the previous guidance range of $3.4 billion to $3.8 billion. Full-year earnings per share projections were established at $2.55 to $2.85.
Institutional stakeholders control 77% of outstanding shares. The company maintains a market capitalization of $70.1 billion, with a 50-day moving average of $251.08 and a 200-day moving average of $213.46.
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