Bloom Energy (BE) Stock Surges 13% on Nebius AI Data Center Partnership

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Shares of Bloom Energy surged 12.7% to $238 on Wednesday, reaching an intraday peak of $249.99.
Nebius selected Bloom as its behind-the-meter power provider for a 300-megawatt AI data center facility in Vineland, New Jersey.
The company strengthened its collaboration with MiTAC, implementing a fuel-cell microgrid at 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 analyst projections of $826 million. Earnings per share of $0.78 doubled the expected $0.39.
The company elevated its full-year 2026 revenue forecast to $3.9 billion to $4.2 billion, compared to the previous projection of $3.4 billion to $3.8 billion.

Shares of Bloom Energy advanced 12.7% to $238 during Wednesday’s session, touching an intraday high of $249.99, following the announcement that AI infrastructure firm Nebius designated the company as its power solution provider for a significant data center initiative. Trading volume exceeded 15 million shares, approximately 21% higher than typical activity.

Bloom Energy Corporation, BE

According to Nebius, Bloom’s fuel-cell technology will supply energy to its proposed 300-megawatt AI data center facility in Vineland, New Jersey. While the project has encountered some resistance from local residents regarding permits and environmental impact, Nebius highlighted that Bloom’s low-emission, on-site energy solution helps mitigate these concerns.

Andrey Korolenko, Nebius’s head of product and infrastructure, commented: “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 the public hearing represents a routine procedural step already factored into the project’s schedule. The primary structure was finalized during the summer months, with internal engineering efforts continuing.

Nebius shares also experienced substantial gains, climbing over 28% following disclosure of a 454% jump in second-quarter revenue.

Dual Announcements Reinforce Growth Trajectory

The Nebius partnership wasn’t the sole driver of investor enthusiasm. Bloom simultaneously announced an enhanced collaboration with MiTAC Computing Technology, implementing a fuel-cell microgrid at an AI server production campus located in Fremont, California.

Chief Executive KR Sridhar stated that Bloom’s technology is emerging as “the standard” for on-site AI power infrastructure, emphasizing its capacity to accelerate data center construction schedules and provide dependable electricity in areas with constrained grid availability.

Analyst sentiment remains predominantly positive. BTIG Research maintains a buy recommendation with a $295 price objective. Clear Street elevated the stock to strong buy status. Mizuho shifted 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 TipRanks reports a broader consensus average of $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 rally, Bloom had already delivered compelling financial results. During its latest quarterly report, the company posted earnings per share of $0.78, precisely double the consensus forecast of $0.39.

Revenue totaled $1.07 billion, significantly exceeding analyst expectations of $826 million, and representing a 165.5% increase versus the comparable period last year. This milestone marked Bloom’s first quarter with revenue surpassing $1 billion.

Based on these strong results, leadership increased full-year 2026 revenue projections to a range of $3.9 billion to $4.2 billion, elevated from the previous forecast 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 maintains a market capitalization of $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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