Bloom Energy shares rise as AI power demand and backlog outlook fuel rally

Bloom Energy shares rose 5.52% to $230.25 in premarket trading Thursday, extending a 16% monthly advance as investors responded to surging demand for its solid-oxide fuel cells from artificial-intelligence data centers, expanding backlog expectations and recent institutional investment disclosures. The company reported record second-quarter revenue of $1.07 billion, up roughly 166% year over year, and adjusted earnings of 78 cents per share, beating Wall Street expectations. Chief Executive Officer KR Sridhar said backlog growth continued to outpace revenue growth, while Jefferies raised its price target to $229. A congressional filing dated Aug. 21 disclosed Bloom Energy purchases and options associated with Paul Pelosi of up to $12 million, although earlier reporting identified former House Speaker Nancy Pelosi as the holder and provided different transaction details and value ranges.

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