New York, February 3, 2026, 14:19 (ET) — Regular session
- Bloom Energy shares climbed roughly 2% in afternoon trading, following an intraday peak at $176.35
- Investors are gearing up for Bloom’s fourth-quarter results, set to drop after the close on Feb. 5
- A new report and analyst note have spotlighted fuel cells as a temporary fix for the tight data-center power markets
Bloom Energy Corporation (NYSE: BE) shares climbed 2.3% to $159.72 in Tuesday afternoon trading, following a sharp jump earlier. The stock swung between $159.20 and $176.35, with roughly 9.7 million shares traded.
Fuel cells are stepping into the spotlight in the race to power AI data centers, as companies seek on-site energy solutions amid delays in grid connections and turbine deliveries, according to a Financial Times report. “Fuel cells are in the limelight and have a lot of appeal right now because grid queues are ridiculous,” said Steve Carlini, Schneider Electric’s vice-president of innovation and data centres. The article noted Bloom’s shares have surged more than 400% over the past year and highlighted a Goldman Sachs projection that fuel cells could account for up to 15% of AI-driven power demand growth by 2030, though some analysts caution that current valuations may already price in high expectations. (Financial Times)
Bloom plans to release its fourth-quarter results after the market closes on Feb. 5, followed by a conference call at 5 p.m. ET. The stock has moved quickly, so traders are on edge for the company’s guidance and any updates on new data-center orders. (Bloom Energy)
In a separate update, TheFly noted that Roth Capital lifted its price target to $133 from $103 but maintained a Neutral rating, just ahead of the quarterly earnings release. That target still sits below Tuesday’s closing price. (TipRanks)
Bloom, headquartered in San Jose, California, produces stationary solid-oxide fuel cells—devices that create electricity via electrochemical reactions instead of combustion. The firm also offers an electrolyzer for hydrogen production, Reuters reports. (Reuters)
American Electric Power announced in early January that its unit will purchase a significant portion of its option for Bloom’s fuel cells in a deal valued around $2.65 billion. The agreement is linked to a planned power plant near Cheyenne, Wyoming. Additionally, AEP revealed it had inked a 20-year offtake agreement — a long-term contract to buy the plant’s power — with an unnamed buyer, contingent on conditions expected to be fulfilled by the second quarter of 2026. (Reuters)
Fuel-cell stocks showed a split performance Tuesday. FuelCell Energy edged up 0.4%, but Plug Power and Ballard Power Systems dropped 2.6% and 3.0%, respectively.
Bloom is pushing the idea that data-center developers will ditch the grid quicker than utilities can ramp up capacity. A company-backed survey released last month via Business Wire shows about one-third of data centers in 2030 will rely entirely on onsite power. “Data center and AI factory developers can’t afford delays,” said Natalie Sunderland. The report highlights Texas and Georgia as hot spots, with developers flocking there for faster power access. (Business Wire)
On Thursday, investors want more than just a headline revenue number. They’ll dig into delivery schedules for major projects, any news on manufacturing capacity, and cash requirements when orders arrive in large batches.
The trade cuts both ways. Data-center projects might hit snags with permits, financing, or customer interest, while fuel-cell rollouts risk delays if timelines slip. Any margin hiccup or slowdown in orders could quickly cast doubt on the stock’s recent rally.
The next checkpoint comes Feb. 5, with results hitting after the bell. A conference call will follow, where the market is set to probe for details on 2026 deliveries and the data-center pipeline.
