Key Points
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Bloom Energy has just signed a massive contract with Oracle to power its cloud infrastructure.
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The company is growing rapidly as hyperscalers and data center operators race to expand capacity.
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Bloom Energy’s upcoming earnings report at the end of April will be worth a close watch.
Bloom Energy (NYSE: BE) stock was on a tear this week, surging 29.4% at its highest point in trading and hitting a 52-week high of $229.55 per share, according to data provided by S&P Global Market Intelligence.
The rally in the hydrogen stock isn’t random. It’s tied to a major validation of Bloom Energy’s critical role in addressing one of the biggest bottlenecks for artificial intelligence (AI) data centers: access to fast, stable, uninterrupted power.
Will AI create the world’s first trillionaire? Our team just released a report on the one little-known company, called an “Indispensable Monopoly” providing the critical technology Nvidia and Intel both need. Continue »
A big data center server room.
Image source: Getty Images.
Bloom Energy’s backlog is growing
Bloom Energy makes solid-oxide fuel cells that can be stacked into modules to build energy servers for providing clean, reliable, and around-the-clock power onsite. Most importantly, these servers can be deployed in weeks, helping data centers bypass grid multi-year delays as AI workloads continue to strain the existing power supply.
Bloom Energy has already built a strong customer base and deployed fuel cell systems for some of the world’s biggest companies. This week, it expanded its partnership with tech giant Oracle (NYSE: ORCL), signing a contract to deploy 1.2 gigawatts (GW) of capacity, with scope to expand the agreement to 2.8 GW.
This is a massive commitment and significantly boosts Bloom Energy’s revenue visibility. The company is already on a roll, having ended fiscal year 2025 with a massive $20 billion in backlog.
How high can Bloom Energy stock go?
AI data centers are a generational opportunity for Bloom Energy. Its technology is proven, has many takers, and is solving the biggest challenge for data centers. The fact that Oracle has now signed such a massive deal with Bloom Energy, after starting with just one fuel-cell system last year, is a powerful signal of how quickly confidence in Bloom’s fuel-cell technology is growing.
The dizzying rally in Bloom Energy stock could mean greater volatility ahead. But if the company can execute, scale production, and translate demand into sustainable profits, this run-up should still have a lot of room to run.
Should you buy stock in Bloom Energy right now?
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy and Oracle. The Motley Fool has a disclosure policy.
