Bloom Energy is seeing strong demand for its solid oxide fuel cells from AI and cloud data centers, including large projects with Oracle and Google, and a growing backlog ahead of its Q3 2026 results. The company has turned free cash flow positive with rising returns on capital, but trades at a premium P/E multiple compared with peers. Oracle's Project Jupiter, which plans up to 2.45 gigawatts of Bloom fuel cell capacity at an AI data center in New Mexico, is seen as a key test: successful delivery would support the on-site power thesis, while delays or cost overruns would intensify valuation concerns. Consensus forecasts point to revenue of US$10.9b and earnings of US$2.7b by 2029, on projected revenue growth of 51.6% per year.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Bloom Energydata centersvaluationelectricity
Open a keyword to see other news on the same topic.
Related news
- Bloom Energy Is Up 157% in 2026: Take Profits, or Hold On for the Ride?
Bloom Energy (NYSE:BE) shares have climbed 157% year to date to $223.03, driven by its role as an on-site power supplier for AI data centers. Oracle confirmed Bloom Energy as the primary power source for Project Jupiter in New Mexico, where installation is already underway. Over the same period, FuelCell Energy is up 77% while Plug Power is down 30%. Management has raised revenue guidance twice this year, but with Q3 2026 results due next week and the stock having run hard, the article warns that a rough earnings reaction is possible.
- 1 Green Flag and 1 Red Flag for Bloom Energy Investors
Bloom Energy shares have risen more than 166% since the start of 2026, ahead of third-quarter 2026 results due October 22. The article highlights a conservative net debt-to-EBITDA ratio of 0.35 at the end of Q2 2026 and $175 million of Q2 free cash flow, with trailing-12-month free cash flow positive for more than a year, while hydrogen peers Plug Power and FuelCell Energy have relied on equity and debt raises. However, the stock trades at 347 times trailing earnings, 109 times operating cash flow and 24.3 times trailing sales, versus a five-year average sales multiple of 3.3. The article concludes that, although pricey, the stock is not so expensive that investors with multi-year horizons should look elsewhere.
- Microsoft (MSFT) Withdraws From UK AI Data Center Project
Microsoft has withdrawn as anchor tenant from Nscale's planned AI data center in Loughton, Essex, citing power supply delays. The article says the site is not expected to receive sufficient grid power until the 2030s, far beyond Microsoft's planning horizon, so the company judged the power-access risk too high for its Azure plans. Nscale must now search for new hyperscale tenants for the site. The article notes Microsoft is already committing around US$175b to US$190b to 2026 infrastructure and has locked in a 1,100 MW power agreement with NiSource.
- Amazon stockpiles Nvidia AI hardware ahead of power availability -Business Insider
Amazon has agreed to buy billions of dollars of Nvidia GPUs before its data centers have enough power to run them, according to internal August emails obtained by Business Insider. Under a new Early Rack Receipt program, the company is taking delivery of about $5 billion in Nvidia GB300 server racks at U.S. facilities, with plans to accept another $3 billion each month. Because several AWS sites lack the utility capacity to energize servers, some hardware sits idle in warehouses as dark GPUs, tying up capital before it generates cloud revenue. The move comes as Amazon projects roughly $220 billion in capex this year and posted negative free cash flow last quarter for the first time since 2023. An Amazon spokesperson called the staging a best business practice for rapid installation once power arrives and disputed reports that the company lacked a clear path to bring the sites online.
- What Could Surprise Vistra Stock Investors On The Upside?
Vistra (VST) shares fell 28.4% over the past year, while the S&P 500 returned 17.4%, even as the power producer keeps signing long-term deals to supply electricity from existing plants to large users such as Meta and a Texas data center project. Management says these customers will pay a premium over market prices because existing capacity still costs less than new construction, and it expects the Meta premium plus the pending Cogentrix purchase to add roughly $700 million of adjusted EBITDA. That gain is excluded from the 2027 guidance of $7.4 billion to $7.8 billion; added to the midpoint it would lift 2027 by about 9%, though part of that comes from the Cogentrix acquisition rather than the contracts. Meanwhile, forward power prices in ERCOT, the Texas market, are meaningfully lower than the October 31, 2025 prices its 2027 range was built on, so management expects 2027 to trend toward the lower end of the range. An updated 2027 adjusted EBITDA range is due with the third-quarter report, expected around November 6, 2026.
- Data center anxiety plays out in Senate campaign debates
Ahead of the midterm elections, Democratic Senate candidates are repeatedly pressing opponents on AI data center policy, linking the issue to energy costs and affordability. A Pew survey from July and August found 50% of U.S. adults say data centers are “mostly bad” for home energy costs, up from 38% in January. In Ohio, Sherrod Brown attacks Sen. Jon Husted over tax breaks for data center projects, while Husted's Senate version of the Ratepayer Protection Act, which would make data centers pay for grid upgrades, stalled on a procedural vote after Democrats said it was not strong enough. A political scientist quoted in the article said the issue is a point of vulnerability for Republicans because voters blame data centers for higher electricity bills.
Related markets
Latest news
- The U.S. Army Is Spending $2.2 Billion on Micro Nuclear Reactors. This Stock Could Benefit.
On Aug. 26, the U.S. Army announced $2.2 billion in funding for several companies to own, build and operate nuclear microreactors for military installations, under its Janus Program launched in 2025. The goal is to supply safe, reliable power to the military through more than 20 microreactors, which are factory-assembled modular designs that can be built faster and at lower cost than large plants. BWX Technologies (BWXT) was selected as one of the vendors, given its long history of building reactors for the U.S. Navy. BWXT shares rose about 136% over five years but fell about 40% over the past six months, and the company recently raised its 2026 guidance for revenue, adjusted EBITDA, non-GAAP EPS and free cash flow. The article notes BWXT has a proven record of deploying its technology and earning profits, unlike some SMR companies without earnings.
- Utah AG sues Kalshi, pursues profits from prediction market company
Utah Attorney General Derek Brown sued Kalshi, its affiliates and two Susquehanna trading companies, alleging the prediction market platform has facilitated illegal betting in the state since 2024. Utah asked the court to compel the companies to return about $30 million to $60 million in profits and to stop sports, election, politics and culture bets in Utah. The lawsuit alleges Kalshi illegally served more than 32,000 users in the state, causing significant losses. A judge had earlier ruled for Utah in August, and an appellate court denied Kalshi's injunction request in September. The case is one of many filed by states against prediction market platforms such as Kalshi and Polymarket, as the U.S. Supreme Court considers New Jersey's case.
- JPMorgan Puts a Number on Bitcoin for the First Time: 10% a Year, With a Big Caveat
J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its 2027 Long-Term Capital Market Assumptions, the first time the report includes the asset. That forecast tops its estimates for U.S. large-cap stocks (7.5%), gold (5.5%) and a 60/40 stock-bond portfolio (7%), but the report puts Bitcoin's annualized volatility at 55%, versus about 17% for gold. The firm still excludes Bitcoin from its main covariance matrices, citing volatility and unstable correlations, and rejected the currency debasement bull case as “wide of the mark.” Bitwise's Matt Hougan welcomed the forecast but argued the 55% volatility assumption is too high, making the return estimate too conservative. Meanwhile, U.S. spot Bitcoin ETFs drew $526.7 million on Monday, trimming October's net outflows to about $88 million.
- JPMorgan Puts a Number on Bitcoin for the First Time: 10% a Year, With a Big Caveat
J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its 2027 Long-Term Capital Market Assumptions, the first time the report includes the asset. That forecast tops its estimates for U.S. large-cap stocks (7.5%), gold (5.5%) and a 60/40 stock-bond portfolio (7%), but the report puts Bitcoin's annualized volatility at 55%, versus about 17% for gold. The firm still excludes Bitcoin from its main covariance matrices, citing volatility and unstable correlations, and rejected the currency debasement bull case as “wide of the mark.” Bitwise's Matt Hougan welcomed the forecast but argued the 55% volatility assumption is too high, making the return estimate too conservative. Meanwhile, U.S. spot Bitcoin ETFs drew $526.7 million on Monday, trimming October's net outflows to about $88 million.
- Wall Street diverges Tuesday , industrials advance , techs slip
Industrial stocks rallied while tech lagged, although AI stocks firmed after recent sell-offs. The S&P 500 closed at 7,712.75, up 0.29 percent, while the Dow Jones Industrial Average gained 531.39 points (1.02 percent) to 52,497.42 and the Nasdaq Composite slipped 0.02 percent to 26,424.82. Jake Behan of Direxion said upcoming hyperscaler earnings would be the next major test for the AI trade, with guidance on ROI, data centre spending and 2027 capex seen as more important than headline earnings. In Asia, Japan’s Nikkei 225 fell 1.30 percent to 64,075.42 and South Korea’s KOSPI dropped 3.73 percent, while Indonesia’s IDX Composite rose 5.65 percent. The U.S. dollar weakened against major currencies, with EUR-USD at 1.1236.
- America's dismal housing market to get even worse in 2027, grim forecast predicts
Goldman Sachs expects America's housing market to stay frozen in 2027, with about 3.9 million existing homes changing hands, slightly fewer than this year and 26% below 2019 levels. Mortgage rates have climbed back above 7%, keeping buyers out while homeowners hold on to cheap loans: more than 95% of existing mortgage borrowers have rates below current market levels, and 65% are at least 2 percentage points lower. Rates have risen nearly 1.5 percentage points since February lows, and Goldman says affordability will increasingly weigh on activity. The Mortgage Bankers Association forecasts single-family mortgage lending will fall 5% in 2027 to just under $2 trillion, with new-home construction slowing. Housing-linked stocks are already down, with the SPDR S&P Homebuilders ETF off about 9% and the iShares Mortgage Real Estate ETF down about 24% this year.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.