Bloom Energy Stock

last updated on

Bloom Energy Stock

Bloom Energy Stock Gained 153%. Should You Buy It?

Bloom Energy has emerged as a standout performer as energy demand is at record highs. AI data centers need a lot of energy, and that's where Bloom Energy comes into play.

The fuel cells made by Bloom Energy are already powering data centers of Oracle and other industry giants. This has also reflected in Bloom Energy's stock price, which is already up by 153% YTD.

Power Demand Remains High

However, Bloom Energy stock is still a long way away from its 52-week high. Does this mean a great opportunity to buy Bloom Energy stock at a discount? To answer this, we must take a closer look at Bloom Energy and the ongoing electrification trend.

There's no doubt that AI data centers need a lot of power. The need for power is also growing at a fast pace. According to research by Gartner, the electricity consumption by data centers will grow by 26% in 2026. By the year 2030, there will be a capacity deficit of 100 GW in the USA, according to Bank of America.

It can easily take years for traditional utilities to bring new capacity online. In this situation, Bloom Energy stands out as it can provide clean energy without a lot of waiting.

Bloom Energy makes solid oxide fuel cells that can be deployed in two months or less. This makes it a great option for hyperscalers who need power quickly.

Analysts think the need for power will only grow. This means strong growth for Bloom Energy. With that in mind, it seems like a good idea to buy Bloom Energy stock.

However, Bloom Energy is highly volatile. So, if you do decide to buy Bloom Energy stock, then consider this! With all things considered, Bloom Energy stock is a buy provided that the power demand from AI data centers remains high.

Trending Stories