Bloom Energy shares jumped more than 10% Tuesday as options trading surged to over 2.5 times its 30-day average, with almost $500 million in premium changing hands by midday, according to Cboe LiveVol and SpotGamma. The $82 billion-market-cap power provider, whose onsite fuel-cell systems are linked to data centers and artificial intelligence industrialization, has gained more than 1,800% over three years, over 30% in the past week and nearly 70% since reporting earnings in late July. Bloom will join the S&P 500 before trading begins on September 21, 2026, replacing Molson Coors Beverage Company and entering the Industrials sector during the quarterly rebalance. UBS analyst Manav Gupta said it will be the first energy stock added to the index since 2022. Implied volatility in Bloom options was above 90%, compared with 50% for Valero and 30% for ExxonMobil. The most active Bloom contract was a 300-strike call expiring Friday, bought for $4.65 and requiring an additional 8% share-price gain to break even. Options activity in conventional energy exposures was less bullish: USO volume was about 50% above its 30-day average at roughly $90 million, with puts and calls nearly balanced, while XLE saw 48,000 calls likely bought against 34,000 puts and $31 million of its $37 million premium tied to calls. Bloom’s inclusion follows revenue growth of more than 166% in the second quarter of 2026, a raised full-year revenue forecast of $3.9 billion to $4.2 billion, an Oracle supply agreement covering up to 2.8 gigawatts of fuel-cell installations and a $25 billion Brookfield Asset Management funding structure.