Bloom Energy shares extended their rally on Tuesday after congressional disclosures revealed that former House Speaker Nancy Pelosi’s household built a multimillion-dollar position in the fuel-cell company in late July. The stock opened at $213.55 on August 26, up from a prior close of $204.02, and traded as high as $214.34 by midday with volume exceeding 4 million shares.
According to filings made under the STOCK Act, accounts belonging to Pelosi’s husband, Paul Pelosi, purchased 15,000 Bloom Energy Class A shares across two dates: 10,000 shares on July 24 at $184.89 and 5,000 shares on July 28 at $166.84. The disclosure also included 200 call options with a $100 strike price expiring in June 2027. Reported values for the combined position range from roughly $3 million to $14.5 million, though congressional disclosures do not reveal exact amounts.
The timing drew attention because Bloom Energy reported record second-quarter results after the market closed on July 28, the same day as the second purchase. Revenue reached $1.07 billion, up 166% year over year, crossing the $1 billion quarterly mark for the first time. EPS came in at $0.78, nearly double the $0.39 analyst consensus. Management raised full-year 2026 revenue guidance to $3.9 billion to $4.2 billion, with gross margin targeted at 34% and EPS guidance of $2.55 to $2.85.
Bloom Energy makes fuel-cell systems that power data centers and other large facilities. The company cited an expanded Oracle agreement that could support up to 2.8 gigawatts of fuel-cell capacity as a key demand driver. Its AI infrastructure business now includes nearly two dozen customers and around 250 MW outside the Oracle deal.
The trades have renewed scrutiny of congressional stock trading. Pelosi voted against House bill H.R.700 on July 22, two days before the first Bloom transaction. A spokesperson told Barron’s that Pelosi does not own any stocks and has no knowledge or subsequent involvement in any transactions. The STOCK Act generally requires trades over $1,000 to be disclosed within 45 days but does not prohibit lawmakers or their spouses from trading individual stocks.
Wall Street holds a Moderate Buy consensus on Bloom Energy with an average price target of $248.05. Risks include a forward non-GAAP P/E around 74, recent insider selling, and ongoing securities fraud lawsuits related to alleged China supply chain exposure. No cryptocurrency assets were directly named or affected by the disclosure.
