Bloom Energy's stock has surged over 300% in 2025, driven by growing contracts to supply solid oxide fuel cells for AI data centers. The company's revenue from data center clients reached $410 million in Q4 2025, up 210% year-over-year, signaling strong demand for resilient, on-site power solutions amid escalating energy needs of AI infrastructure.
- Bloom Energy's stock rose over 300% in 2025, driven by AI data center demand.
- Q4 2025 revenue from data center clients reached $410 million, up 210% YoY.
- 17 new contracts signed in Q4, including a $230 million 10-year deal with a major cloud provider.
- 140 megawatts of active data center power capacity; another 180 MW in development.
- Market cap at $38 billion as of January 2026, with forward P/E of 67.
- Institutional ownership increased by 45% in Q4 2025.
Bloom Energy’s stock has emerged as a standout performer in the clean energy sector, climbing over 300% year-to-date through late 2025. This surge is closely tied to its expanding role in powering AI data centers, which now account for more than 40% of the company’s total revenue. The demand for reliable, high-capacity onsite power has intensified as tech giants such as Meta, Google, and Amazon expand their AI infrastructure, requiring energy solutions that minimize grid dependency and reduce latency. In the fourth quarter of 2025, Bloom Energy reported $410 million in revenue from data center clients—up 210% compared to the same period in 2024. The company signed 17 new contracts during the quarter, including a 10-year, $230 million agreement with a major U.S.-based cloud provider to deploy fuel cell systems at three new data center campuses. These installations are expected to deliver 120 megawatts of continuous power capacity, supporting thousands of AI servers. Bloom Energy now has 140 megawatts of active data center power capacity installed, with an additional 180 megawatts under contract or in development. Despite the strong momentum, analysts caution that the company’s growth trajectory may be vulnerable to macroeconomic shifts and changes in data center capital spending. With a market capitalization of $38 billion as of January 2026, Bloom Energy trades at a forward P/E ratio of 67, well above the clean tech sector average. While its fuel cell technology offers lower emissions and higher efficiency than diesel generators, the cost per kilowatt-hour remains higher than utility grid power, raising questions about long-term scalability. The stock’s performance has also drawn attention from institutional investors, with mutual funds increasing their stake in Bloom Energy by 45% in Q4 2025. However, some analysts warn that the current valuation may not be sustainable if AI infrastructure growth slows or if alternative energy solutions, such as modular nuclear or battery-backed microgrids, gain traction.