New York, Jan 21, 2026, 18:51 EST — After-hours
Bloom Energy shares slipped 0.8% to $150.56 in after-hours on Wednesday, following a choppy session where the stock ranged between $142.58 and $155.75.
The fuel-cell maker now stands as a high-beta bet on the rush for data-center power, with the tape reacting swiftly to any clues about who’s buying, who’s unloading, and the pace of major projects moving forward.
That’s why a shareholder filing carries extra weight this time around. Traders want to distinguish lasting demand from the usual noise.
A Schedule 13G filing revealed the Kuwait Investment Authority and its London branch, the Kuwait Investment Office, held 3.253 million shares of Bloom, representing 1.38% of Class A stock as of Jan. 19. The filing also indicated ownership below the 5% threshold. 1
Bloom, known for its solid oxide fuel-cell systems that produce on-site electricity, dropped a new data-center power report Tuesday. It’s based on a survey of key players in the data-center power space. The takeaway? Roughly one-third of data centers will run entirely on on-site power by 2030. The report also highlights a growing disconnect between what utilities plan to supply and what data-center developers actually need. “Data center and AI factory developers can’t afford delays,” said Chief Marketing Officer Natalie Sunderland. 2
The stock surged earlier this month after American Electric Power announced its unit would purchase a major share of its option for Bloom fuel cells in a deal valued at roughly $2.65 billion. AEP revealed the fuel-cell generation plant will be situated near Cheyenne, Wyoming, and that it inked a 20-year agreement with an undisclosed customer to provide the facility’s entire output. 3
Fuel-cell stocks showed a split picture on Wednesday, underscoring how crowded the space is and how quickly sentiment can shift: Plug Power dropped 3.7%, FuelCell Energy climbed roughly 8%, while Ballard Power Systems edged down 0.9%.
Bloom’s intraday swings reflected the market mood. Buyers remain focused on the data-center power angle, but sellers are probing to see if the positives have already been priced in.
But major energy projects often face delays, and demand forecasts don’t always turn into orders on the timeline investors count on. Rapid stock gains can trigger fresh waves of shareholder selling, adding pressure.
Bloom’s fourth-quarter earnings land Feb. 5 after the bell, followed by a 5 p.m. ET conference call. Investors expect news on big data-center deals, delivery schedules, and cash flow. 4
