Bloom Energy Corporation (NYSE: BE) ended Wednesday, December 17, 2025, with a sharp selloff that stood out even in a risk-off session for technology and “AI-adjacent” names. BE closed the regular session at $76.97, down 12.14%, after trading in a wide $75.70–$90.50 range with roughly ~18 million shares changing hands. [1]
But the story didn’t stop at the closing bell. In after-hours trading, BE rebounded modestly—trading around $78.28 at 6:00 p.m. ET, about +1.70% from the regular close, with an after-hours range of $76.57–$78.48. [2]
For investors heading into Thursday’s open (Dec. 18, 2025), today’s move is less about a single Bloom-specific headline and more about the market’s changing tone around AI infrastructure spending, the valuation debate that has surrounded BE’s rally in 2025, and a high-impact macro calendar set to hit before the bell.
BE stock today: the key numbers investors are reacting to
Here’s the quick scoreboard from Wednesday and early after-hours:
- Regular-session close: $76.97 (-12.14%) [3]
- Day’s range: $75.70 to $90.50 [4]
- After-hours (6:00 p.m. ET): $78.28 (+1.70% vs. close) [5]
- After-hours range: $76.57 to $78.48 [6]
That combination—big intraday range + heavy volume + partial after-hours retrace—is typical of a high-volatility stock when sentiment flips quickly.
What drove the selloff: “AI bubble” nerves and a crowded infrastructure trade
Wednesday’s BE drop landed in the middle of a broader market pullback where tech led the decline. Reuters described “market fatigue” building around the AI infrastructure story, with investors increasingly focused on capex rationalization and the reality that “not all players can win at once.” [7]
By the close:
- The Nasdaq Composite fell 1.81%, while the S&P 500 fell 1.16%, per Reuters. [8]
- Reuters also noted that investors were waiting on a key inflation report due Thursday, a setup that often amplifies volatility in high-beta growth names. [9]
The Oracle data center headline that rattled the complex
A key narrative thread on Wednesday was renewed uncertainty around the financing and pacing of large AI data center builds.
Reuters reported that Oracle shares fell even after Oracle attempted to reassure investors that talks for an equity deal supporting a data center project were on schedule and do not include Blue Owl Capital, following a report of stalled negotiations. [10]
Why it matters for Bloom Energy: BE has become one of the market’s most recognizable “picks-and-shovels” plays on AI-era power constraints—so anything that raises doubts about how fast mega data centers get funded and built can hit sentiment quickly, even if Bloom itself hasn’t issued new guidance that day.
The “profit-taking” angle: valuation ran hot, and today the market blinked
Several of today’s widely-circulated analyses framed the move as a reset after a powerful run.
A Motley Fool analysis carried by Nasdaq pointed to how investors had poured into Bloom on hopes that AI spending would translate into a windfall, pushing valuation sharply higher—then reversed as questions about AI spending started to circulate, prompting profit-taking. [11]
At the same time, Bloom’s fundamentals have improved, which is why the stock has attracted such strong attention in 2025. Bloom’s most recent quarterly report (Q3 2025) highlighted:
- Revenue of $519.0 million (fourth straight quarter of record revenue) [12]
- Gross margin of 29.2% (up from 23.8% a year prior) [13]
- Operating income of $7.8 million (improving from an operating loss a year earlier) [14]
The market tension for BE has been that fundamentals are improving, but the stock price has also been pricing in a future where AI-driven power demand turns into very large, very durable orders—fast.
Today’s forecasts and analysis: bullish demand story, but valuation flagged again
1) Zacks (published today): momentum is real, but “Hold” due to premium valuation
A Zacks analysis published Wednesday emphasized that Bloom has outperformed its industry over the last three months and is benefiting from growing demand for clean, reliable power—particularly from AI data centers and other power-hungry uses. [15]
But Zacks also highlighted the valuation risk:
- Forward price-to-sales (P/S): ~8.02x vs industry ~4.59x [16]
- Conclusion: maintain/hold posture given the premium valuation (Zacks Rank #3 “Hold”). [17]
This “great theme, tough price” framing is essentially the consensus debate around BE right now—and today’s selloff shows how quickly the market will punish expensive multiples when risk appetite fades.
2) Analyst price targets: wide dispersion, but still net-positive on average
Consensus snapshots (which can differ by platform based on analyst universe and timing) remain broadly constructive, but not uniform:
- Investing.com shows an overall “Buy” consensus and an average 12-month price target of $108.55, based on a poll of the past three months, with targets ranging widely (low $39 to high $157). [18]
- StockAnalysis shows 19 analysts with a consensus “Buy” and an average price target of $83.16, also showing after-hours pricing around 6:06 p.m. ET. [19]
The big takeaway isn’t “one true target”—it’s that dispersion is enormous, which is common for stocks tied to disruptive themes (AI infrastructure + energy transition) where the main disagreement is the pace and certainty of future orders.
The core bull case: Bloom’s AI power positioning (and why the market keeps trading it)
Bloom’s own 2025 announcements show why the stock became closely associated with AI-era power constraints:
- Oracle collaboration (July 24, 2025): Bloom said it would deploy fuel cell technology at select Oracle Cloud Infrastructure data centers, aiming to deliver onsite power within 90 days, positioning fuel cells as a rapid-deployment alternative when grid timelines don’t match compute timelines. [20]
- Brookfield partnership (Oct. 13, 2025): Bloom and Brookfield announced a $5 billion strategic AI infrastructure partnership, with Bloom positioned as a preferred onsite power provider for Brookfield’s “AI factories” concept. [21]
- In Q3 results, Bloom explicitly pointed to that Brookfield partnership while reporting record revenue. [22]
This is the heart of the thesis many investors are trading: data centers need power now, grids are constrained, and behind-the-meter solutions can move faster.
Today’s price action doesn’t erase that thesis—but it does show how sensitive the stock is to any “AI buildout slows” narrative.
What to know before the market opens Thursday, Dec. 18, 2025
If you’re watching BE into Thursday morning, these are the catalysts most likely to matter before and at the open:
1) 8:30 a.m. ET CPI (high-volatility event for high-multiple stocks)
The U.S. Bureau of Labor Statistics lists the Consumer Price Index for November 2025 as scheduled for release on December 18, 2025 at 8:30 a.m. Eastern Time—one hour before the stock market opens. [23]
Why BE cares: if CPI surprises hotter, rate expectations can reprice quickly—often pressuring high-beta, high-multiple names. If CPI is cooler than feared, beaten-down momentum stocks sometimes bounce sharply.
2) Other key 8:30 a.m. ET macro prints: jobless claims + Philly Fed
Investing.com’s preview of Thursday’s economic calendar points to a cluster of data in the morning window, including CPI, initial jobless claims, and the Philadelphia Fed Manufacturing Index, a setup that can create rapid index moves that spill into single names like BE. [24]
3) Overnight “AI funding” headlines—especially anything involving Oracle data centers
Because the broader market’s AI anxiety is currently tied to questions around financing, capex, and timelines, investors will be sensitive to any follow-ups to the Oracle/Blue Owl storyline.
Reuters’ reporting that Oracle said talks are on schedule and do not include Blue Owl underscores that narratives can shift quickly—and the market may still trade the uncertainty even as clarifications emerge. [25]
4) Fed expectations and the “risk-on/risk-off” switch
Reuters highlighted Fed Governor Christopher Waller’s comments that the Fed has room to cut rates amid job-market weakness—and the broader market’s hopes for rate cuts have been part of what’s buoyed risk assets. [26]
Any repricing of rate-cut expectations (especially around CPI) can change the tone for BE quickly.
5) Watch the quality of the bounce: after-hours moves can be misleading
BE’s after-hours rebound is notable, but remember: extended-hours trading tends to be thinner, with wider spreads and more noise. Public.com’s data shows the after-hours range was relatively tight compared with the regular-session range, which can signal stabilization—but not necessarily a confirmed reversal. [27]
Bottom line for BE stock heading into Thursday’s open
Bloom Energy is still being traded as a high-octane proxy for a very specific theme: clean, rapidly deployable onsite power for data centers. Today’s selloff—and partial after-hours rebound—looks driven less by a new Bloom headline and more by:
- macro + CPI positioning,
- AI infrastructure “fatigue” and capex skepticism,
- and valuation sensitivity after a big 2025 run. [28]
References
1. www.investing.com, 2. public.com, 3. www.investing.com, 4. www.investing.com, 5. public.com, 6. public.com, 7. www.reuters.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.nasdaq.com, 12. investor.bloomenergy.com, 13. investor.bloomenergy.com, 14. investor.bloomenergy.com, 15. finviz.com, 16. finviz.com, 17. finviz.com, 18. www.investing.com, 19. stockanalysis.com, 20. investor.bloomenergy.com, 21. investor.bloomenergy.com, 22. investor.bloomenergy.com, 23. www.bls.gov, 24. in.investing.com, 25. www.reuters.com, 26. www.reuters.com, 27. public.com, 28. www.reuters.com
