On January 9, 2026, Bloom Energy shares climbed more than 10% after Clear Street raised its 12-month price target by $10 to $68, citing a projected $3.7 million in revenue for 2027 tied to AI data center projects. Clear Street’s Tim Moore reiterated a hold rating but highlighted the company’s strategic positioning in a fast-growing segment of tech infrastructure. Shortly thereafter, HSBC named Bloom Energy one of just 11 top stock picks ahead of the quarterly reporting season, the only industrial company on that list, praising its potential to outperform peers as AI data center deployments accelerate.

Bloom Energy and American Electric Power deepened their collaboration when AEP’s subsidiary exercised a large portion of an existing option to purchase solid oxide fuel cells, committing approximately $2.65 billion to a new generation facility. Originally announced in 2024 as an initial 100 MW purchase with an option for an additional 900 MW, the expansion underscores growing demand for on-site, grid-independent power solutions in AI compute centers. The deal positions Bloom to supply hundreds of megawatts of fuel cells over the next several years and represents one of the largest orders in the company’s history.

Despite the recent momentum, Bloom Energy’s forward earnings multiple of roughly 125 times places it among the most richly valued names in clean energy. With a market capitalization near $29 billion and a trailing 12-month gross margin of 33.24%, the company must continue executing on large-scale deployments to justify its premium. Investors are watching upcoming quarterly results closely for signs that volume growth from AI data center contracts and expanding microgrid partnerships can offset dilution from a $2.2 billion convertible note offering announced late last year.