Up 275% This Year: Is It Too Late to Buy Bloom Energy Stock?

Bloom Energy (BE) has rallied 275% in 2026, driven by surging demand from AI data centers for its fuel cell power systems. The company posted 130% revenue growth in Q1, marking a sharp acceleration as hyperscalers build out power-hungry infrastructure.

Oracle has deployed Bloom's technology as a major customer, while a partnership with Brookfield Asset Management adds institutional validation to the fuel cell platform. The deals position Bloom at the intersection of AI infrastructure and clean energy, two of the market's hottest themes.

The rally has pushed valuation to 38 times sales, a steep multiple that leaves little room for execution missteps. Customer concentration presents additional risk—reliance on a handful of large data center operators means contract delays or cancellations could hit revenue hard.