Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion. It sells its products through direct and indirect sales channels to utilities, data centers, agriculture, retail, hospitals, higher education, biotech, and manufacturing industries. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

BELUGAM-12.26

Bloom Energy Corporation

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, значительно упал. Медведи продолжают терять уверенность.

Weak index, significantly down. Bears continue to lose confidence.

Слабый индекс, значительно вырос. Рынок на стороне быков.

Weak index, significantly up. The market is on the bulls' side.

Слабый индекс, значительно упал. Рынок не поддерживает медведей.

Weak index, significantly down. The market does not support the bears.

Слабый индекс, незначительно вырос. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly up. The inflow of funds into longs remains at a low level.

Слабый индекс, незначительно упал. Увеличился отток средств из шортов.

Weak index, slightly down. The outflow of funds from shorts has increased.

Bloom Energy Corporation reported its financial results for the third quarter ended September 30, 2026, achieving record quarterly revenue of $1,235.8 million, which represents a 138.1% increase compared to the third quarter of 2025. Product revenue for the quarter reached $1,073.6 million, up 179.4% year-over-year. The company recorded operating income of $225.4 million, which increased $217.6 million, and EPS of $0.78, which increased $0.88.
The company's gross margin for the third quarter of 2026 was 33.8%, representing an increase of 453 basis points year-over-year, while its non-GAAP gross margin rose 412 basis points to 34.5%. Non-GAAP operating income reached $285.7 million, which increased $239.4 million, and non-GAAP EPS was $0.94, representing an increase of $0.79. Additionally, Bloom Energy Corporation was added to the S&P 500, marking an important milestone for the company.
For the full year 2026, Bloom Energy Corporation raised its financial guidance. The company now expects full year revenue to be between $4.4 billion - $4.6 billion, representing 122% year-over-year growth at the midpoint. It also projects a non-GAAP gross margin of ~34%, non-GAAP operating income of $960M - $1,030M, and non-GAAP EPS of $3.10 - $3.40.
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Bloom Energy Corporation Reports Record Third Quarter 2026 Revenue of $1,235.8 million and Raises Full Year Guidance

Key Points
Bloom Energy provides on-site fuel cell technology that serves high-growth industries like artificial intelligence and data centers.
Constellation Energy is the largest producer of carbon-free nuclear power in the United States with a massive utility-scale footprint.
Which energy stock is the better choice for your 2026 portfolio?
As the race to power energy-hungry data centers accelerates, should you bet on hydrogen-ready fuel cells or nuclear power? Here is how Bloom Energy (NYSE:BE) and Constellation Energy (NASDAQ:CEG) compare today.
These two firms operate at the heart of the clean energy transition. While one focuses on decentralized power through fuel cell innovation, the other leverages a massive fleet of carbon-free nuclear plants. Comparing them helps you weigh the potential for explosive growth against the reliability of established utility-scale generation.
The case for Bloom Energy
Bloom Energy manufactures solid oxide fuel cell systems that generate electricity and hydrogen on-site without traditional combustion. The company serves a diverse range of clients across the industrial stocks sector, specifically focusing on data centers and semiconductor manufacturers. Major commercial agreements include a strategic partnership with American Electric Power (NASDAQ:AEP) and a multi-billion dollar financing framework with Brookfield Corp. (NYSE:BN) to support large-scale energy projects.
In FY 2025, revenue reached about $2 billion, which represents a significant 37% increase compared to the previous year. Despite this rapid top-line expansion, the company reported a net loss of approximately $88.4 million for the same fiscal period. This result reflects a substantial improvement over the $302 million net loss from FY 2023 as the company scales manufacturing to meet rising demand.
As of its December 2025 balance sheet, the company carries a debt-to-equity ratio of around 3.9x. This ratio compares total debt to shareholder equity, and a higher number indicates that a business relies more heavily on borrowed funds than on internal capital. Its current ratio is roughly 6.0x, while free cash flow reached about $57.2 million, which is calculated as operating cash flow minus capital expenditures.
The case for Constellation Energy
Constellation Energy operates as a massive power producer and retail energy supplier with a total capacity of approximately 55 gigawatts. The company recently finalized a landmark 20-year agreement with Microsoft Corp. (NASDAQ:MSFT) to support a significant nuclear reactor restart, highlighting its role in providing reliable energy to large technology firms. It serves roughly 2.5 million customer accounts, including three-fourths of the Fortune 100 and a large base of residential users.
In its latest annual report, filed for FY 2025, revenue reached approximately $25.5 billion. This figure represents growth of more than 8% over the prior year. Net income reached about $2.3 billion, which translates to a net margin of roughly 9%. This net margin reflects the portion of total revenue that remains as profit after the company pays all of its operating and financial costs.
As of its December 2025 balance sheet, the company carries a debt-to-equity ratio of approximately 0.6x. This lower ratio suggests a more conservative capital structure than many of its peers in the utility sector. Its current ratio is roughly 1.5x, and free cash flow for the year was about $1.3 billion, which is calculated as cash flow from operations minus capital expenditures.
Risk profile comparison
Bloom Energy faces competition from traditional utilities and other fuel cell manufacturers. The business relies on government incentives like the federal Investment Tax Credit, meaning political shifts could hurt its long-term outlook. It also manages supply chain vulnerabilities for critical components and is involved in legal proceedings regarding its reliance on materials sourced from abroad.
Constellation Energy is exposed to fluctuations in commodity prices for its unhedged power generation and competition from other providers like NextEra Energy (NYSE:NEE). The company must also navigate the operational risks of integrating large acquisitions while maintaining aging nuclear infrastructure. Additionally, it faces ongoing regulatory oversight regarding its asset portfolio and potential cybersecurity threats to the national energy grid.
Valuation comparison
Constellation Energy currently trades at a lower valuation relative to its sales and future earnings estimates than the high-growth premium assigned to Bloom Energy. The Forward P/E ratio compares a stock price to its expected profit based on future earnings estimates. The P/S ratio measures the market value of the company against its sales over the past twelve months.
Metric
Bloom Energy
Constellation Energy
Forward P/E
85.4x
22.5x
P/S ratio
21.9x
3.1x
Valuation metrics are sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
Bloom is growing fast and is an exciting business, given the increasing demand for local power sources coming from the AI data center explosion. Transmission capacity deficits and extended lead times for needed electrical infrastructure mean utility interconnection times are now between four and seven years for hyperscalers' new data centers. Bloom is successfully positioning its solid oxide fuel cell technology as an alternative that can be quickly put in place to be used as a bridge or as a permanent source of onsite power generation.
Bloom Energy's core product is its Energy Server, a stand-alone power source for commercial and industrial customers. The Energy Server is based on solid oxide fuel cell technology and runs on natural gas, biogas, or hydrogen.
The business aims to reduce its production costs by about 10% per year to attract more customers (its main markets are the U.S. and Korea). The AI data center boom is a tailwind for Bloom, which should see revenue leap 85% to $4.1 billion in fiscal 2026. That has Wall Street expecting a swing to net income of about $658 million.
Interest in nuclear power equities initially surged at the decade's start as a key component of decarbonization strategies. More recently, however, the massive electricity requirements of artificial intelligence have rapidly accelerated growth across the sector. As America's leading operator of nuclear facilities--alongside its wind, solar, and hydroelectric assets--Constellation Energy is uniquely positioned to capitalize on this surge in power consumption, evidenced by a 2025 20-year agreement with Meta Platforms (NASDAQ:META). Surging load requirements, combined with state-level regulations phasing out coal generation, are driving momentum to reactivate retired reactors and construct new facilities nationwide.
That has the once-stodgy utility provider looking at a big jump in revenue this fiscal year, to $26.1 billion from $25.5 billion. Net income will come close to doubling, to around $4.5 billion this year as well.
Growth like Constellation's is hard to overlook. Bloom's history as a boom-and-bust stock should bring some caution too. Constellation's much more reasonable P/E and P/S ratios make it the pick for long-term investors seeking an energy play on AI-driven demand.
Should you buy stock in Bloom Energy right now?
Before you buy stock in Bloom Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bloom Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $391,581!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,780!*
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*Stock Advisor returns as of October 16, 2026.
Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Corporation, Constellation Energy, Meta Platforms, Microsoft, and NextEra Energy. The Motley Fool has a disclosure policy.

Bloom Energy vs. Constellation Energy: Which Energy Stock Is an AI-Driven Buy in 2026?

Key Points
Bloom Energy has grown immensely from sales of its energy servers to companies involved in building AI infrastructure.
The company had an outstanding second quarter, but almost three-quarters of its revenue growth was driven by one customer.
The stock can continue delivering gains, but investors shouldn't expect its extraordinary growth from the past to repeat itself.
Up over 200% since last October, and over 1,400% over the last five years, Bloom Energy (NYSE: BE) has been on an absolute tear. And it's not hard to see why. Bloom has become one of the most important energy companies to the tech industry, mainly because it has something AI companies desperately need: power, and fast.
Bloom's solid oxide fuel cells -- Bloom boxes, as they're sometimes called -- can generate electricity directly at data centers, which allows developers to sidestep the years-long wait for a connection to the grid. This "time to power" advantage has catapulted Bloom from a relatively obscure clean-energy upstart into one of Wall Street's hottest energy stocks.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
With such an enormous run behind it, however, the uncomfortable question emerges: Have Bloom's best market days come and gone, or is there still upside ahead?
How Bloom cemented its dominance in 2026
As mentioned, Bloom sells solid oxide fuel cells for on-site power generation. The company earns most of its revenue from selling and installing these systems, with maintenance providing a smaller stream of revenue.
Sales of Bloom's energy systems have been spectacular, and its second-quarter numbers show just how quickly demand has spiked. Product revenue in Q2 hit $935 million, up roughly 215% year over year, and total revenue surpassed $1 billion for the first time in company history.
Better yet, Bloom's operating expenses did not rise as drastically as revenue. In Q2 2025, for example, Bloom generated about $401 million in revenue while spending roughly $111 million on operating expenses. This year, Bloom generated more than $1 billion while operating expenses rose to about $173 million. That helped Bloom swing from a $3.5 million operating loss a year ago to a $182 million profit last quarter.
One slight wrinkle is that about 73% of Bloom's second-quarter revenue came from a single buyer. That's concerning because it means a large portion of Bloom's recent growth depended on one buyer rather than a broad mix. That doesn't take away from what was an otherwise outstanding quarter, but it could make Bloom's growth less durable if that customer's orders slow down.
Bloom has several projects in its back pocket, including partnerships with Equinix, Oracle, Nebius, and Brookfield Asset Management. But perhaps the most interesting is its relationship with miTAC Computing, which manufactures servers for AI workloads.
Bloom plans to deploy a "microgrid" at miTAC's manufacturing campus in Fremont, California. Bloom hasn't disclosed the project's size, but what fascinates me is the customer: miTAC isn't a data center. It basically makes equipment for data centers. This suggests that Bloom is trying to expand beyond data centers to encompass the broader AI-related supply chain, which could significantly broaden its market opportunity.
Is it too late to buy Bloom Energy stock?
I don't think it's too late to buy Bloom Energy stock. At the same time, if you're buying Bloom with the expectation that immense growth will come from data centers, you might be late to that particular story.
However, it doesn't mean that Bloom's momentum has hardened into stasis. Indeed, if the miTAC relationship tells us anything, it's that Bloom is already looking for ways to expand beyond data centers. Bloom investors may not see the same 15-fold gain the stock has seen over the last five years. But I think the stock still has a competitive edge and the potential to beat the market over the long term.
Should you buy stock in Bloom Energy right now?
Before you buy stock in Bloom Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bloom Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $379,123!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,408,822!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 215% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 11, 2026.
Steven Porrello has positions in Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, Equinix, and Oracle. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Is It Too Late to Buy Bloom Energy? My Honest Take.

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Uber Technologies Inc (Symbol: UBER), where a total volume of 124,735 contracts has been traded thus far today, a contract volume which is representative of approximately 12.5 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 72.5% of UBER's average daily trading volume over the past month, of 17.2 million shares. Particularly high volume was seen for the $72 strike call option expiring October 09, 2026, with 14,690 contracts trading so far today, representing approximately 1.5 million underlying shares of UBER. Below is a chart showing UBER's trailing twelve month trading history, with the $72 strike highlighted in orange:
SoFi Technologies Inc (Symbol: SOFI) saw options trading volume of 323,224 contracts, representing approximately 32.3 million underlying shares or approximately 68.8% of SOFI's average daily trading volume over the past month, of 47.0 million shares. Particularly high volume was seen for the $16 strike call option expiring October 16, 2026, with 20,701 contracts trading so far today, representing approximately 2.1 million underlying shares of SOFI. Below is a chart showing SOFI's trailing twelve month trading history, with the $16 strike highlighted in orange:
And Bloom Energy Corp (Symbol: BE) saw options trading volume of 112,478 contracts, representing approximately 11.2 million underlying shares or approximately 67.2% of BE's average daily trading volume over the past month, of 16.7 million shares. Particularly high volume was seen for the $272.50 strike put option expiring October 09, 2026, with 7,085 contracts trading so far today, representing approximately 708,500 underlying shares of BE. Below is a chart showing BE's trailing twelve month trading history, with the $272.50 strike highlighted in orange:
For the various different available expirations for UBER options, SOFI options, or BE options, visit StockOptionsChannel.com.
Further UBER Research:

Noteworthy Friday Option Activity: UBER, SOFI, BE

Key Points
Bloom Energy just leased a new facility to expand in California.
Bloom is on a mission of goodwill to address concerns surrounding data centers.
One Wall Street firm thinks Bloom stock still has more room to run.
Bloom Energy (NYSE:BE) is taking a multi-pronged approach to accelerate its momentum as a leading provider of data center power. Investors are buying in, helping send Bloom Energy stock rocketing 34.3% higher in September, according to data provided by S&P Global Market Intelligence.
Wall Street analysts are on board as well, with one boosting Bloom's price target to $308 per share at the start of October. Barclays, led by analyst Christine Cho, raised its price target from $276 per share. The new target implies another 6.5% upside, even after the stock's September surge.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Expanding capacity to meet demand
One reason for that optimism is Bloom Energy's recent move to expand production capacity for its fuel cell systems. The need for power solutions for data centers is so widespread that Bloom and investment firm Brookfield Asset Management announced a fivefold expansion of its data center partnership earlier this year. Brookfield now expects to finance $25 billion worth of power projects for AI infrastructure.
To help support that demand, Bloom Energy reportedly recently leased a 158,500-square-foot facility in Fremont, California, where one of its existing manufacturing facilities is also located. Investors noted that as a concrete step to fill existing and future orders. In its second-quarter report, Bloom management raised full-year revenue guidance to a range that implies 100% year-over-year growth at the midpoint of just over $4 billion.
Image source: The Motley Fool.
Public relations push
One concern investors have is whether growing public backlash against data centers could derail returns on the billions being invested to build data centers and fill them with AI infrastructure equipment. Bloom Energy has been taking action in that regard.
Data centers require large swaths of real estate and high energy to power advanced compute capacity. Neighbors of the proposed sites are pushing back on much of that land use and its local impacts. Concerns about water usage and environmental impacts, power costs, and broader economic fears that AI will take jobs have been well-publicized.
Bloom Energy , in a new partnership with ESPN, is joining its season-long College Football Campus Tour to engage communities and support local emergency responders.
Bloom is being proactive in spreading the message that its energy solution is one that communities should welcome. The college football tour began in College Station, Texas, where Bloom Energy's chief marketing officer, Natalie Sunderland, recognized local firefighters with a donation. She stated, "From firefighters and first responders to the power systems that keep businesses, schools, and hospitals running, much of that work happens behind the scenes. We're excited to bring that conversation directly to communities across the country this season."
Helping shape the narrative around AI and advanced manufacturing, and supporting economic growth, is a way for the company to ensure its order book continues to grow. That also helps keep Bloom Energy shares in demand with investors.
Should you buy stock in Bloom Energy right now?
Before you buy stock in Bloom Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bloom Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $361,650!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,437,517!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 5, 2026.
Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy and Brookfield Asset Management. The Motley Fool recommends Barclays Plc. The Motley Fool has a disclosure policy.

Why Bloom Energy Stock Soared 34% in September, and Why It Might Have More Room to Run

Key Points
Bloom's own model says its fuel cells cut $3.6 billion, or 27%, off a 1-gigawatt AI data center's non-chip construction costs.
Nvidia plans to move its next-generation data center racks to 800-volt DC power starting in 2027.
Bloom sold about three times as much product in the second quarter as it did a year before.
Bloom Energy (NYSE:BE) put a dollar amount on its pitch to artificial intelligence (AI) data centers on Sept. 16. According to the fuel cell maker's own cost model, a 1-gigawatt AI data center run on its systems could spend $3.6 billion (27%) less on non-chip construction than one built around standard AC (alternating current) power. Over five years, Bloom says the total cost to own the facility drops by $5.5 billion, or 9%.
These savings are big next to the $3.9 billion to $4.2 billion in revenue Bloom sees for all of 2026. And they come with the stock near $289 as of this writing, about 18% under its 52-week high of $351.28.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
I think the claim's credible, but I'm less sure it affects what the stock's worth.
Image source: The Motley Fool.
Where does the $3.6 billion come from?
Bloom's solid oxide fuel cells make electricity on-site, and they produce it as 800-volt direct current (DC). That matters because AI chips use DC, but the grid, gas turbines and engines supply AC power that has to be converted before it reaches a server rack. Skipping these steps, Bloom argues, reduces the need for transformers and switchgear, equipment that can already take years to get.
Work the percentages backward, and Bloom's model puts non-chip construction for a 1-gigawatt site at about $13 billion and five-year ownership at roughly $60 billion. Most of that tab, in other words, goes toward the chips and the cost to run them. Even in Bloom's own numbers, power savings trim less than a tenth of it.
Bloom also notes that real project economics will differ by site.
Nvidia's racks are moving to 800 volts
Nvidia (NASDAQ:NVDA) has said full-scale production of 800-volt DC data centers should coincide with its Kyber rack systems in 2027. It says running one of these 1-megawatt racks on today's 54 volts could use up to 200 kilograms of copper. Research firm SemiAnalysis reported in July that Kyber could slip to 2028, a report Nvidia denied.
But Nvidia's own design doesn't need a fuel cell. It converts AC grid power to 800-volt DC once, at the edge of the data center.
The data center power system makers Nvidia listed as 800-volt partners in October 2025 included Eaton and GE Vernova, but not Bloom. So Bloom's real competitor in 2027 might be grid or turbine power converted to DC once, which could cut the savings.
"To move away from the AC paradigm that is over a century old requires the pain of not switching to be far greater than the benefit and comfort of accepting the status quo," Bloom's founder and CEO, KR Sridhar, said when the report came out, admitting that switching is a high bar.
Saving 9% on ownership costs is worth having. I'm not sure it's that sort of pain.
Orders still depend on speed
Bloom's Oracle deal seems to have been won on something else. When Oracle expanded its partnership in April to get up to 2.8 gigawatts of Bloom's fuel cells, its executive spoke about speed, not cost.
"By rapidly deploying Bloom's reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States," said Mahesh Thiagarajan, executive vice president of Oracle Cloud Infrastructure.
That demand shows in Bloom's results. In the second quarter of 2026, product revenue was around $935 million, over three times the year-ago level. Product gross margin, though, is about where it was before the data center boom. The latest quarter's 36.5% is near the 36.6% Bloom reported in the fourth quarter of 2025 and the 36.8% it posted for all of 2024. So Bloom is selling far more systems without yet keeping a noticeably bigger share of every sale. If customers accept the cost claim, it may give Bloom room to charge more.
Of course, fuel cells also need a steady gas supply. On Sept. 24, Bloomberg reported that Oracle had sent a force majeure notice linked to Project Jupiter, a planned New Mexico campus that Bloom's fuel cells are due to power. The pipeline meant to supply the site with natural gas has been delayed. Bloom said Oracle is still committed to the contract, and Oracle said the project remains on schedule.
Shares cost around 56 times Bloom's expected 2027 earnings per share. And 2027 is just the year Nvidia's 800-volt racks are set to start arriving. Notably, Bloom's announcement doesn't name a customer for its full 800-volt design.
So the cost claim helps Bloom's case for the 2027 build-out. But I'd want to see a big data center operator commit to that design before paying this much for the stock.
Should you buy stock in Bloom Energy right now?
Before you buy stock in Bloom Energy, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bloom Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $361,650!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,437,517!*
Now, it’s worth noting Stock Advisor’s total average return is 936% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 4, 2026.
Daniel Sparks and his clients do not have positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy, Eaton Plc, GE Vernova, Nvidia, and Oracle. The Motley Fool has a disclosure policy.

Bloom Energy Says Its Fuel Cells Can Save a Big AI Data Center $3.6 Billion. I'd Still Wait to Buy the Stock.

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Bloom Energy Corp (Symbol: BE), where a total of 136,830 contracts have traded so far, representing approximately 13.7 million underlying shares. That amounts to about 76.3% of BE's average daily trading volume over the past month of 17.9 million shares. Especially high volume was seen for the $295 strike call option expiring October 02, 2026, with 10,049 contracts trading so far today, representing approximately 1.0 million underlying shares of BE. Below is a chart showing BE's trailing twelve month trading history, with the $295 strike highlighted in orange:
Super Micro Computer Inc (Symbol: SMCI) saw options trading volume of 272,642 contracts, representing approximately 27.3 million underlying shares or approximately 71.7% of SMCI's average daily trading volume over the past month, of 38.0 million shares. Particularly high volume was seen for the $43.50 strike call option expiring October 02, 2026, with 17,387 contracts trading so far today, representing approximately 1.7 million underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $43.50 strike highlighted in orange:
And Occidental Petroleum Corp (Symbol: OXY) saw options trading volume of 64,475 contracts, representing approximately 6.4 million underlying shares or approximately 69.1% of OXY's average daily trading volume over the past month, of 9.3 million shares. Particularly high volume was seen for the $60 strike call option expiring October 09, 2026, with 13,766 contracts trading so far today, representing approximately 1.4 million underlying shares of OXY. Below is a chart showing OXY's trailing twelve month trading history, with the $60 strike highlighted in orange:
For the various different available expirations for BE options, SMCI options, or OXY options, visit StockOptionsChannel.com.
Further BE Research:

Notable Friday Option Activity: BE, SMCI, OXY

Key Points
A $10,000 stake in Bloom Energy at the end of September 2021 had dropped to under half its value by early 2024.
Bloom's revenue growth sped up to 37% in 2025 as demand from artificial intelligence data centers surged.
Bloom earned $196 million in the second quarter of 2026 after years of losses.
For three years, a $10,000 stake in Bloom Energy (NYSE:BE) looked like a bad bet. Bought at the stock's Sept. 29, 2021, closing price of $18.55, those shares were worth just around $5,800 by late September 2024.
Now they're worth about $160,000. The fuel cell maker's stock sits near $298 as I write, so the stake has risen about 16-fold. And all of it came from the share price, because Bloom doesn't pay a dividend.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
All of that gain showed up in the last two years, after artificial intelligence (AI) data centers began buying Bloom's on-site power systems in volume. Before that, Bloom's growth was slowing and the business lost money every year.
Image source: Getty Images.
Bloom lost money year after year
Bloom's revenue climbed 23% in 2022 to around $1.2 billion. But growth then cooled to 11% in 2023 and around 10% in 2024.
And the bottom line never turned. Bloom's net loss attributable to common stockholders was around $164 million in 2021, and it passed $300 million in both 2022 and 2023.
Even 2024, the year Bloom swung to a full-year operating profit ($23 million, versus a $209 million operating loss in 2023), still finished with a net loss of about $29 million.
Shares closed as low as $8.58 in February 2024, which would've cut the $10,000 stake to around $4,600 -- under half of what went in.
I'd guess many shareholders gave up sometime in that stretch. And whoever sold at the 2024 low, after over two years of watching the investment drop, missed the full rally that followed.
Data center demand
The turn came on Nov. 14, 2024, when Bloom announced a deal to supply American Electric Power with up to 1 gigawatt of fuel cells to help power AI data centers. Bloom called it the biggest commercial procurement of fuel cells worldwide so far.
Shares surged around 59% the next trading day, and the business soon followed.
At the start of 2025, management guided for revenue growth of about 19% at the midpoint. Bloom wound up growing revenue 37% to $2.02 billion, fueled, management said, by significant growth from the AI data center industry. Revenue later cleared $1 billion in one quarter for the first time, hitting $1.07 billion in the second quarter of 2026, up 166% year over year. And management now guides for around $3.9 billion to $4.2 billion in revenue this year, roughly double 2025 at the midpoint. Put another way, a company that grew around 10% in 2024 now expects to double its sales in one year.
Profits finally showed up, too. Bloom's operating margin hit 17.1% in the second quarter of 2026, up from minus 0.9% a year before.
Even more important, net income attributable to common stockholders hit $196 million in the second quarter, versus a loss of around $43 million a year earlier. Add the first quarter's $71 million, and Bloom earned about $267 million in the first half of 2026. That's after a net loss of around $88 million for all of 2025.
"Today, all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories," said founder and CEO KR Sridhar as Bloom posted its second-quarter results in July.
Another 16-fold gain?
A repeat would need Bloom's market value, around $88 billion now, to top $1.4 trillion.
Of course, the stock can still rise from here. But the starting price is very different. A 2021 buyer got a business that went on to lose money in all of the next four years.
Shares today cost around 60 times the earnings Bloom is expected to post in 2027, a price-to-earnings ratio that arguably already assumes data center demand keeps growing for years to come.
And any delay in data center projects could hit a stock at this valuation hard. Shares dropped on Sept. 24 after Oracle sent a force majeure notice for Project Jupiter, a New Mexico data center campus designed to run on Bloom's fuel cells, then recovered after Bloom said Oracle is still committed to its contract.
Yes, Bloom has earned some of that optimism. But most of the past five years' gain probably came from Bloom becoming a profitable, fast-growing company, and that change now shows up in the stock price. At this price, I'd want to see Bloom string together a full year of profits before paying up.
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Bloom Energy Stock Rose 16-Fold in 5 Years. All of the Gain Came in the Last 2.

In trading on Tuesday, the WisdomTree Artificial Intelligence and Innovation Fund ETF is outperforming other ETFs, up about 1.9% on the day. Components of that ETF showing particular strength include shares of Bloom Energy, up about 12.3% and shares of Cerebras Systems, up about 6.9% on the day.
And underperforming other ETFs today is the VanEck Oil Refiners ETF, down about 2.4% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Valero Energy, lower by about 1.2%, and shares of Phillips 66, lower by about 1% on the day.

Tuesday's ETF Movers: WTAI, CRAK

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Schwab U.S. Mid-Cap ETF (Symbol: SCHM) where we have detected an approximate $2.6 billion dollar outflow -- that's a 15.4% decrease week over week (from 497,250,000 to 420,650,000). Among the largest underlying components of SCHM, in trading today Bloom Energy Corp (Symbol: BE) is up about 13.8%, Coherent Corp (Symbol: COHR) is up about 6.1%, and Moderna Inc (Symbol: MRNA) is up by about 0.2%. For a complete list of holdings, visit the SCHM Holdings page » The chart below shows the one year price performance of SCHM, versus its 200 day moving average:
Looking at the chart above, SCHM's low point in its 52 week range is $28.245 per share, with $36.92 as the 52 week high point — that compares with a last trade of $34.22. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further SCHM Research:

Indicator	Jun 26	Jul 26	Aug 26	Sep 26	Oct 26	TTM	Median
P/E	398.29	0.00	271.45	168.89	124.34	124.34	24.96
Price/Sales	27.32	21.62	—	—	—	21.62	1.40
P/B	54.12	61.70	—	41.70	30.70	30.70	2.35
P/FCF	125.57	221.42	—	153.43	112.96	112.96	18.03

Indicator	Jun 26	Jul 26	Aug 26	Sep 26	Oct 26	TTM	Median
ROE	24.14	—	—	38.77	—	38.77	14.69
ROA	5.66	—	—	—	—	5.66	6.05
ROI	7.22	—	—	12.84	—	12.84	8.73
Net Worth	97.87	65.80	66.70	89.82	66.13	66.13	1.16
Quick Ratio	3.41	—	—	3.08	—	3.08	1.16
Current Ratio	4.09	—	—	3.74	—	3.74	1.59

Indicator	Jun 26	Jul 26	Aug 26	Sep 26	Oct 26	TTM	Median
Net Profit Margin	7.87	—	—	13.52	—	13.52	7.68
Operating Margin	11.24	—	—	14.80	—	14.80	10.44
Gross Margin	31.29	—	—	32.35	—	32.35	32.69
Return on tangible equity	24.14	—	—	38.77	—	38.77	24.78

Indicator	Jun 26	Jul 26	Aug 26	Sep 26	Oct 26	TTM	Median
EPS	—	0.61	—	—	—	0.61	0.76
EPS Forecast	—	0.23	—	—	—	0.23	0.67
Revenue	1.07B	—	—	1.24B	—	1.24B	187.00M
Gross Profit	356.00M	—	—	417.00M	—	417.00M	—
EBITDA	199.00M	—	—	242.00M	—	242.00M	—

Bloom Energy Corporation

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