Bloom Energy's Stock Surges 16-Fold Over Five Years Amid AI Data Center Demand
Bloom Energy (BE) has seen its stock rise over 16-fold since September 2021, with the majority of gains occurring in just two years. The fuel cell company struggled for much of this period, reporting consistent losses and slowing revenue growth until a surge in demand from AI data centers turned things around. The turning point came in November 2024 when Bloom announced a major deal to supply American Electric Power with up to 1 gigawatt of fuel cells. This led to significant stock gains and improved financial performance, including a shift from losses to profits by mid-2026. Revenue growth accelerated dramatically, reaching $2.02 billion in 2025 — more than double the previous year's guidance. Bloom now expects revenue of between $3.9 billion and $4.2 billion for this year as it gains traction with major hyperscalers and AI data center operators. The company’s operating margin improved to 17% in Q2 2026, up from a negative figure the previous year.
Tickers: $AEP
Topics: AI data centers Bloom Energy fuel cells stock performance