Key Takeaways
- Bloom Energy shares surged 12.7% to $238 on Wednesday, reaching an intraday peak of $249.99.
- The company was chosen by Nebius as the power provider for a 300-megawatt AI data center facility in Vineland, New Jersey.
- A separate partnership expansion with MiTAC will bring fuel-cell microgrid technology to 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 the $826 million consensus. Earnings per share of $0.78 doubled the $0.39 forecast.
- The company increased its 2026 annual revenue outlook to a range of $3.9 billion to $4.2 billion, up from the previous $3.4 billion to $3.8 billion projection.
Shares of Bloom Energy rallied 12.7% to close at $238 on Wednesday, peaking at $249.99 during the session, following news that AI infrastructure provider Nebius selected the company to power a significant data center development. Trading volume exceeded 15 million shares, approximately 21% higher than the typical daily average.
The partnership involves deploying Bloom’s fuel-cell solutions at Nebius’s upcoming 300-megawatt AI data center facility in Vineland, New Jersey. While the project has encountered some local resistance regarding permitting and environmental considerations, Nebius highlighted that Bloom’s low-emission, behind-the-meter power generation technology helps mitigate these concerns.
According to Andrey Korolenko, Nebius’s head of product and infrastructure: “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 approval for an updated site plan. Leadership indicated that the public hearing represents a routine procedural step already accounted for in the development schedule. Construction of the primary structure was finalized during the summer, with interior engineering efforts currently underway.
Nebius shares also posted impressive gains, climbing more than 28% following disclosure of a 454% quarterly revenue increase.
Dual Announcements Highlight AI Infrastructure Demand
The Nebius partnership wasn’t the sole driver of Wednesday’s rally. Bloom also announced an expansion of its collaboration with MiTAC Computing Technology, installing a fuel-cell microgrid system at an AI server production campus located in Fremont, California.
CEO KR Sridhar stated that Bloom’s solutions are emerging as “the standard” for on-site AI power infrastructure, emphasizing the technology’s capacity to accelerate data center construction timelines and provide dependable electricity in regions with constrained grid access.
Analyst sentiment remains predominantly bullish. BTIG Research maintains a buy recommendation with a $295 price objective. Clear Street elevated its rating to strong buy. Mizuho upgraded from neutral to outperform. Royal Bank of Canada carries an outperform rating with a $335 target. The mean analyst price target stands at $246.18, while the broader TipRanks consensus average reaches $271.58.
Current analyst coverage includes three strong buy ratings, ten buys, twelve holds, and one sell, resulting in a “Moderate Buy” consensus for BE.
Quarterly Performance Set the Stage
Prior to Wednesday’s surge, Bloom had already delivered compelling financial results. The company’s latest quarterly report showed earnings per share of $0.78, exactly double the consensus forecast of $0.39.
Quarterly revenue totaled $1.07 billion, significantly exceeding the $826 million analyst expectation and representing a 165.5% increase versus the prior-year period. This milestone represented Bloom’s first quarter surpassing $1 billion in revenue.
Based on these strong results, management elevated its full-year 2026 revenue guidance to a range of $3.9 billion to $4.2 billion, compared to the previous projection of $3.4 billion to $3.8 billion. Full-year earnings per share guidance was established at $2.55 to $2.85.
Institutional ownership accounts for 77% of outstanding shares. The company’s market capitalization stands at $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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