Key Highlights

  • Shares are trading at $281.81 in pre-market activity, up 4.37% from Wednesday's close of $270.02.
  • The stock is extending a multi-week rally ahead of its official inclusion in the S&P 500 index, effective September 21.
  • A new report suggests the company's 800V DC-native fuel cell architecture could cut non-compute Capital costs for 1-gigawatt AI data centers by $3.6 billion.
  • Mizuho recently raised its price target on the stock to $351, citing stronger pricing and Demand signals.

S&P 500 Inclusion Fuels Continued Buying

Bloom Energy (NYSE:BE) shares rallied further in pre-market trading Thursday as investors positioned ahead of the company's official inclusion into the S&P 500 index, effective September 21, a change expected to trigger significant buying from index-tracking funds. Bloom Energy is a San Jose, California-based company that designs, manufactures, and installs solid oxide fuel cell systems that generate on-site electricity for commercial, industrial, and critical infrastructure customers, converting natural gas, biogas, or hydrogen into electricity through a non-combustion electrochemical process.

New Report Highlights Cost Advantages for AI Data Centers

Sentiment was further boosted by a new report suggesting that Bloom Energy's 800V DC-native fuel cell architecture could cut non-compute capital costs for 1-gigawatt AI data centers by $3.6 billion and lower five-year power operating costs by $5.5 billion, reinforcing the company's positioning as an alternative power infrastructure option for AI data centers.

Legislative Tailwind Adds to the Bullish Case

Additional support came from the House's passage of the Ratepayers Protection Act, which shifts data-center power upgrade costs onto technology companies rather than consumers, a change seen as benefiting on-site power providers like Bloom Energy, FuelCell Energy (NASDAQ:FCEL), and GE Vernova (NYSE:GEV). Mizuho recently raised its price target on the stock to $351, citing stronger pricing and demand signals.

Outlook: Litigation Remains a Background Risk

Bloom Energy shares are rallying on a combination of index-inclusion buying, favorable cost data, and supportive policy developments, even as the company continues to face an ongoing securities class action related to disclosures about China-sourced scandium supply. Continued execution on its AI data-center power positioning will likely be the key Factor determining whether the rally can extend past next week's index inclusion.