Stock Track | Bloom Energy Soars 5.43% on Supply Deal to Power AI Data Centers

Stock Track11-21 02:46

Bloom Energy Corp (BE) stock soared 5.43% on Wednesday, outperforming the broader market on news that the fuel cell company has secured a key supply agreement to meet surging power demands from AI data centers.

The company reached a strategic deal with American Electric Power to provide solid-oxide fuel cell systems for on-site power generation at data centers. Bloom's systems can reliably meet the immense and rapidly growing energy needs of AI and machine learning infrastructure.

Analysts at BMO Capital reacted positively to the deal news, raising their price target on BE stock from $12 to $19.50 while maintaining a "Market Perform" rating. The firm cited potential for further upside as Bloom executes on the remaining 900MW capacity under the supply agreement.

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