Bloom Energy Rises Before Earnings as Musk Highlights AI Power Needs
Bloom Energy shares gained 8% ahead of its third-quarter report after Elon Musk said power and cooling are bigger constraints on AI deployment than chips and said SpaceX plans to add 20 gigawatts of power and cooling by the end of 2027. Musk did not mention Bloom, so any benefit to the fuel-cell maker remains speculative. Analysts expect Bloom’s revenue to roughly double to $4.12 billion this year, and investors will focus on gross margin versus management’s guidance of about 34%.
Bloom’s advance came two days before its third-quarter release, scheduled after Thursday’s close with a 5 p.m. ET call. The company’s shares had dropped 21% earlier in the month, and the stock still traded at roughly 62.5 times forward earnings before today’s gain, near 66 times afterward.
Analysts project revenue near $4.12 billion for the year, almost double 2025’s $2.02 billion, and $9.89 billion by 2028. Management’s July 28 outlook put sales between $3.9 billion and $4.2 billion. Gross margin has climbed from 20.3% in 2021 to 29.7% in 2025, with about 34% expected for 2026.
If on-site fuel cells gain share, data-center operators and surrounding communities could see faster power additions but also new questions about emissions, land use, and local grid planning. Investors may price in growth before contracts appear, raising volatility for retirement funds and retail holders. Utilities and equipment suppliers may face competitive pressure, while customers may benefit from shorter timelines if costs and reliability hold.