AI Data Centers Need More Power and Bloom Energy Could Be a Big Winner

Vandita Jadeja

Tue, August 25, 2026 at 9:30 PM GMT+3 5 min read

Quick Read

Bloom Energy (BE) earns a BUY at $239.45 after Q2 revenue surged 166% YoY to $1.07B, backed by a $20B backlog.
GE Vernova (GEV) ships to 2029 while Plug Power (PLUG) still loses money, leaving Bloom the only pure-play fuel cell name generating hyperscaler cash flow.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bloom Energy didn't make the cut. Grab the names FREE today.

Bloom Energy (NYSE:BE) has become the poster child for onsite power at AI data centers, and the numbers match the narrative. Our 24/7 Wall St. price target for Bloom Energy is $239.45, implying 17.37% upside from the current price of $204.02. That earns a buy rating at high confidence.

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24/7 Wall St. Price Target Summary

Bloom sits in a scarcity trade: hyperscalers cannot get grid power fast enough, and Bloom can. At roughly 78x forward earnings and a beta near 4, this is a high-conviction, high-volatility name.

Our buy reflects the target upside plus accelerating revenue, expanding margins, and a $25 billion Brookfield financing shelf behind the backlog.

Record Quarter, Raised Guide, and a One-Week Pullback

Bloom is up 134.8% year to date and 320.31% over the past year, yet pulled back 12.12% in the last week from a 52-week high of $351.28. The pullback follows a Q2 FY2026 report: revenue of $1.065 billion (up 165.52% YoY), non-GAAP EPS of $0.78 versus a $0.406 consensus, and raised FY2026 guidance to $3.9 billion to $4.2 billion in revenue.

BE Earnings Explorer — 24/7 Wall St.

CEO KR Sridhar stated: "Today, all the major US hyperscalers, and over a dozen US neoclouds, AI labs, and co-location data center operators have validated and approved our power solutions for their AI factories." That matters because 80% of 2025 bookings were repeat orders.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bloom Energy didn't make the cut. Grab the names FREE today.

Why Bulls See a Breakout Above $300

The bull case starts with backlog. Bloom exited FY2025 with a $20 billion total backlog and a $6 billion product backlog, up roughly 2.5x YoY. Brookfield expanded its financing partnership from $5 billion to $25 billion in June. Management cites industry estimates of 30 to 40 gigawatts of new AI data center capacity coming online in 2027, against Bloom's 1.5 GW deployed base.

Analyst consensus sits at $275.08 with 5 strong buys and 10 buys. Our bull scenario points to $315.46 over 12 months if operating margin holds near the 22.5% Q2 level and Brookfield capital accelerates deliveries.

What Could Go Wrong

Valuation is the obvious risk. Bloom trades at 262x trailing earnings and 19x sales. A single canceled hyperscaler project or an AI capex pause would compress that multiple. Reddit chatter flagged a Texas grid audit that paused new data center builds.

Scandium supply and tariff exposure remain live risks, though management has visibility for 25 gigawatts of deployments and is not dependent on China.

Q2 net income grew 560.57% YoY. Our bear scenario sees $180.81 if AI capex slows.

How Bloom Compares to GE Vernova and Plug Power

GE Vernova (NYSE:GEV) is the direct scale competitor for data center power. GEV carries a $251 billion market cap and reported Q2 revenue of $11.1 billion with a $176 billion backlog.

Data center orders exceeded $5 billion year to date at GEV, more than double 2025. GEV's backlog stretches into 2029, while Bloom ships in months. That time-to-power gap is what our target assumes Bloom keeps monetizing.

Plug Power (NASDAQ:PLUG) shows the gap in scale and profitability. It posted Q2 revenue of just $178.3 million with an adjusted loss of $0.07 per share and a market cap near $3 billion.

Plug targets positive EBITDAS for Q4 2026; Bloom already generated $226 million in operating cash flow in a single quarter. Bloom trades at premium multiples because it is the only pure-play fuel cell company with hyperscaler validation and cash generation.

Bloom Energy Price Prediction 2026-2030

Our 24/7 Wall St. price target for Bloom Energy is $239.45, a buy at 90% confidence. Execution tips the scale: four straight EPS beats, 100% guided revenue growth for FY2026, and hyperscaler standardization.

Watch AI capex commentary from Microsoft, Meta, and Oracle into year-end, and monitor Q3 for any material bookings slowdown or Brookfield utilization stall.

Bloom is one slice of the AI power buildout, and we mapped seven more suppliers (power, cooling, networking) in a free report here: 7 Stocks Powering the AI Boom (That Aren't Chipmakers).

These projections assume Bloom continues executing on its AI data center strategy and Brookfield financing converts steadily. Meaningful upside or downside could come from hyperscaler capex trajectory, scandium supply resolution, or changes to Section 45V and Investment Tax Credit policy.