Bloom Energy shares jumped 12.7% to $238 on Wednesday, reaching an intraday high of $249.99, after the company announced significant AI power deals and reported stronger-than-expected quarterly results. Volume came in at over 15 million shares, roughly 21% above average.
AI infrastructure firm Nebius named Bloom Energy as its behind-the-meter power partner for a planned 300-megawatt AI data center in Vineland, New Jersey. The project has faced some local pushback over permits and environmental concerns, but Nebius said Bloom's low-emission on-site fuel-cell system helps address those issues. Andrey Korolenko, Nebius’s head of product and infrastructure, said: “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.” Nebius is currently seeking final approval for a revised site plan, with the main building completed earlier this summer.
Bloom also expanded its partnership with MiTAC Computing Technology to deploy a fuel-cell microgrid at an AI server manufacturing campus in Fremont, California. CEO KR Sridhar said Bloom’s technology is becoming “the standard” for on-site AI power, citing faster data center deployment timelines and reliable electricity where grid capacity is limited.
The company’s second-quarter results provided a strong foundation: revenue hit $1.07 billion, up 165.5% year over year and above the $826 million estimate, while EPS came in at $0.78 versus a $0.39 consensus. Gross margins expanded to 33.4% from 26.7%, and operating income reached $182.2 million. Management raised full-year 2026 revenue guidance to $3.9 billion–$4.2 billion from the prior $3.4 billion–$3.8 billion range, with EPS guidance of $2.55–$2.85.
Wall Street analysts reacted positively: BTIG has a buy rating with a $295 price target, Clear Street upgraded to strong buy, Mizuho moved to outperform, and RBC has an outperform rating with a $335 target. The average analyst price target is $246.18, while the TipRanks consensus average is $271.58. A technical analysis view also noted the stock rebounded from an August low of $157.20 and formed an inverted head-and-shoulders pattern, with a potential move toward $300 if the breakout continues.
