New York, Feb 6, 2026, 14:21 (EST) — Regular session
Bloom Energy Corp shares plunged Friday, erasing nearly all of an early 15.9% surge following a bullish 2026 outlook. The stock slipped 0.7% to $135.64 in afternoon trading, after hitting a high of $158.29. Volume reached around 15 million shares, with the price swinging between $134.41 and $158.29.
The whipsaw hits as investors scramble to find power solutions that can be deployed swiftly for AI data centers, where connecting to the grid can take years. Bloom’s fuel-cell systems produce electricity right on site. “Data centers have been a huge gift to Bloom and their shareholders,” said Michael Thomas, founder and CEO of Cleanview. 1
Bloom on Thursday set its 2026 revenue forecast between $3.1 billion and $3.3 billion, with non-GAAP earnings per share expected in the range of $1.33 to $1.48. The non-GAAP figures exclude items like stock-based compensation and other one-time costs. The company also reported a current product backlog of roughly $6 billion, reflecting systems ordered but not yet delivered. Additionally, all product shipments are now compatible with 800-volt direct current. 2
Bloom reported $777.7 million in revenue for the fourth quarter and a non-GAAP EPS of $0.45. Its full-year revenue hit $2.02 billion, the company said. CEO K.R. Sridhar emphasized that “bring-your-own-power has shifted from a slogan to a business necessity” for AI hyperscalers and manufacturing sites. 3
Bloom included its earnings release and a detailed investor deck in an 8-K filing, spotlighting strong data-centre demand. The presentation revealed a cash reserve exceeding $2 billion following a convertible debt deal and announced a partnership with Oracle aimed at AI data center development. It also referenced a $5 billion strategic AI infrastructure alliance with Brookfield Asset Management. 4
BMO Capital bumped its price target for the stock to $149 from $136 on Friday but held onto a Market Perform rating. The firm noted that “key debates remain about additional upside from here” despite what it described as emphatic guidance. 5
The forecast offers little margin for error. Bloom must convert its growing order backlog into delivered, installed systems, and any hiccup in supply, permits, or customer schedules could delay revenue and shake the stock once more.
Traders are zeroing in on order flow from hyperscalers and whether Bloom can reach its goal of roughly 32% non-GAAP gross margin this year. The company’s next earnings report is set for May 6, according to Investing.com. 6
