New York, Jan 20, 2026, 12:32 ET — Regular session
- Bloom Energy shares jumped roughly 2% by midday, rebounding from earlier steep swings.
- A recent survey on data center power finds a growing number of operators aim to run fully onsite generation by 2030
- Texas is set to grow as a data center hotspot, shining a spotlight on behind-the-meter power
Shares of Bloom Energy Corp (NYSE: BE) climbed 2.1% to $152.65 in midday action Tuesday, after swinging between $138.68 and $153.70. The SPDR S&P 500 ETF, by comparison, slipped 1.3%.
This shift is significant as the scramble to build AI-focused data centers grows more chaotic. Utilities are flagging longer delays for grid hookups, and developers are pushing for guaranteed power timelines before breaking ground.
That shifts focus to “behind-the-meter” solutions — power generated on the customer side of the utility meter. Investors are moving into companies that can quickly add generation to a campus, bypassing years of transmission delays.
Bloom produces stationary solid oxide fuel cell systems designed for on-site power generation and offers hydrogen equipment, according to its company profile. (Reuters)
Bloom released its 2026 Data Center Power Report Tuesday, revealing a survey of 152 data center decision-makers. It found that about one-third of data centers in 2030 plan to run entirely on onsite power—up 22% from six months ago. The report predicts Texas will grab nearly 30% of the U.S. data center market by 2028. It also highlights that utility delivery timelines stretch 1.5 to 2 years longer than builders expect. Meanwhile, 45% of respondents expect to adopt direct-current distribution by 2028. “Data center and AI factory developers can’t afford delays,” said Chief Marketing Officer Natalie Sunderland. The company noted these are forward-looking estimates. Bloom said it has deployed 1.5 gigawatts of low-carbon power across more than 1,200 global installations. (Bloomenergy)
Hyperscalers, the largest cloud operators, develop sprawling campuses. Colocation providers offer customers space, power, and cooling without the need to start from zero. As racks grow denser, some operators are experimenting with direct-current (DC) distribution for their electrical setups.
A Texas Tribune report linked the survey to a growing local challenge: Bloom’s analysis projects that Texas’ data center-driven grid demand might top 40 gigawatts by 2028. The Tribune also highlighted Bloom’s forecast that U.S. data centers’ peak power demand could jump to around 150 GW in 2028, up from roughly 80 GW in 2025. Aman Joshi, Bloom’s Chief Commercial Officer, told the Tribune that “grid power is not easily available at all and prices have gone up.” (The Texas Tribune)
Traders now want to see if survey headlines actually translate into signed contracts. A report might shift the tape for a day, but it’s the purchase orders that usually sustain the move.
Bloom’s data-center strategy is now part of a broader $5 billion deal struck in October with Brookfield. The partnership positions Bloom as the preferred onsite power supplier for Brookfield’s so-called “AI factories,” the company confirmed. (Bloomenergy)
Early this month, American Electric Power revealed plans to purchase a large slice of its option for Bloom’s solid oxide fuel cells in a deal valued around $2.65 billion, according to a regulatory filing. The move supports the company’s aim to build a fuel cell generation facility. AEP also secured a 20-year contract for the full output with an unnamed customer, contingent on conditions expected by Q2 2026. (Reuters)
The competitive landscape is wide-ranging. Fuel-cell competitors are chasing the same data-center budgets, while gas turbine and generator makers contend their equipment is faster and more affordable. Utilities maintain that grid expansions will eventually bridge the gap.
The risk is clear: this report isn’t a backlog. Data-center projects can stall due to permitting delays, chip supply issues, or funding challenges. If utilities tighten schedules or onsite generation costs rise, Bloom’s stock could lose those gains just as fast — Tuesday’s swings made that obvious.
Next up: the event circuit and any new customer updates. Bloom is set to attend PowerGen in San Antonio through Jan. 22, followed by a manufacturing-focused webinar that same day, per the company’s events page. (Bloomenergy)
