TLDR
- Bloom Energy stock rose 12.7% to $238 on Wednesday, hitting an intraday high of $249.99.
- Nebius named Bloom its behind-the-meter power partner for a 300-megawatt AI data center in Vineland, New Jersey.
- Bloom also expanded its partnership with MiTAC to deploy a fuel-cell microgrid at an AI server manufacturing campus in Fremont, California.
- Q2 revenue hit $1.07 billion, up 165.5% year over year, beating estimates of $826 million. EPS came in at $0.78 vs. $0.39 expected.
- Management raised full-year 2026 revenue guidance to $3.9 billion to $4.2 billion, up from the prior range of $3.4 billion to $3.8 billion.
Bloom Energy stock climbed 12.7% to $238 on Wednesday, with an intraday high of $249.99, after AI infrastructure company Nebius named it as the power partner for a major data center project. Volume came in at over 15 million, roughly 21% above average.
Nebius said it would use Bloom’s fuel-cell technology to power its 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 power 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. Management said the public hearing is a standard step already built into the project timeline. The main building was completed earlier this summer, with interior engineering work ongoing.
Nebius stock also had a strong day, up over 28% after reporting a 454% surge in Q2 revenue.
Two Deals, One Theme
The Nebius announcement was not the only catalyst. Bloom also deepened its relationship with MiTAC Computing Technology, deploying 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, pointing to its ability to shorten data center deployment timelines and deliver reliable electricity where grid capacity is limited.
Wall Street is largely on board. BTIG Research holds a buy rating with a $295 price target. Clear Street upgraded the stock to strong buy. Mizuho moved from neutral to outperform. Royal Bank of Canada has an outperform rating with a $335 target. The average analyst price target sits at $246.18, with a broader consensus average from TipRanks at $271.58.
The current analyst breakdown shows three strong buy ratings, ten buys, twelve holds, and one sell, giving BE a “Moderate Buy” consensus.
Earnings Provided the Foundation
Before Wednesday’s move, Bloom had already given investors plenty to work with. In its most recent quarter, the company reported EPS of $0.78, doubling the consensus estimate of $0.39.
Revenue came in at $1.07 billion, well above the $826 million analysts expected, and up 165.5% compared to the same quarter last year. It marked the first time Bloom crossed the $1 billion revenue mark in a single quarter.
Following those results, management raised full-year 2026 revenue guidance to a range of $3.9 billion to $4.2 billion, up from the prior range of $3.4 billion to $3.8 billion. Full-year EPS guidance was set at $2.55 to $2.85.
Institutional investors hold 77% of the stock. The company carries a market cap of $70.1 billion, a 50-day moving average of $251.08, and a 200-day moving average of $213.46.
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