New York, Jan 14, 2026, 18:57 ET — After-hours
- Shares were down 4.5% at $133.46 in extended trading after a choppy session.
- The pullback comes as investors weigh how fast data-center power spending turns into earnings.
- Focus shifts to Bloom’s next results and guidance, expected in late February.
Bloom Energy (BE.N) shares fell 4.5% to $133.46 in after-hours trading on Wednesday, giving back ground after a sharp early-January run. The stock swung between $130.01 and $140.00 during the session.
The move matters because Bloom has become a crowded way to play the surge in electricity demand tied to artificial intelligence data centers, and investors are getting pickier on price. BlackRock said clients looking at AI into 2026 favored energy and infrastructure providers over big tech, based on a survey it cited. (Reuters)
U.S. power demand is also moving into the tape again, and the numbers are getting bigger. The Energy Information Administration said U.S. electricity consumption, which hit a record in 2025, is projected to climb to 4,256 billion kilowatt-hours in 2026 and 4,364 billion in 2027, citing factors that include AI and crypto data centers. (Reuters)
Microsoft on Tuesday rolled out steps aimed at limiting the impact of data-center power costs on the public and curbing water use, a reminder that the buildout is running into local politics as well as engineering. “It’s both unfair and politically unrealistic for our industry to ask the public to shoulder added electricity costs for AI,” Microsoft vice chair and president Brad Smith said. (Reuters)
For Bloom, the near-term question is how much of the AI power demand translates into signed orders, not just talk, and at what margins. Investors have tended to reward deals that come with clear delivery schedules and long service contracts, and punish anything that looks like a one-off.
Last week’s rally in Bloom was stoked by a major order tied to American Electric Power’s move to buy a large portion of its option for Bloom’s solid oxide fuel cells in a deal worth about $2.65 billion, Reuters reported. AEP also disclosed a 20-year offtake agreement — a long-term contract to buy the plant’s output — that it said was subject to conditions expected to be satisfied by the second quarter of 2026. (Reuters)
Fuel-cell peers were mixed on Wednesday, underscoring how much of Bloom’s move has been company-specific. Plug Power rose, while FuelCell Energy and Ballard Power edged lower.
Still, there is a “but” hanging over the trade. The data-center land grab is forcing tougher conversations about grid hookups, who pays for upgrades, and whether behind-the-meter power raises political heat — and any slowdown in permitting, financing or customer timelines can punch a hole in near-term expectations.
The broader tape did not help. U.S. stocks ended lower on Wednesday, led by a drop in the Nasdaq as investors digested mixed big-bank earnings and fresh economic data. (Reuters)
The next hard catalyst for Bloom is earnings. The company has not confirmed a date, but Zacks expects Bloom’s next earnings release around Feb. 26. (Zacks)
