On September 28, Bloom Energy Corp fell 3.81% in pre-market trading, trading at $278.85/share, with turnover of $10.82 million, as concerns over Oracle's force majeure event continued to pressure the stock.

On the news front, Oracle previously issued a force majeure notice to developer Stack Infrastructure regarding its Project Jupiter data center in New Mexico. The project's full 2.45GW power load was set to rely entirely on Bloom Energy's fuel cell technology. Although Oracle stated the project remains on track and Bloom Energy's total backlog stands at approximately 10GW — with Oracle accounting for only about one-fifth — the event has sparked broader fears of a slowdown in AI infrastructure buildout, dampening sentiment across the data center supply chain.

Notably, prior to this setback, Bloom Energy had been riding strong tailwinds, including its inclusion in the S&P 500 effective September 21 and robust institutional interest evidenced by a $5.3 million in-the-money call option block targeting $270 strike for October expiry. The company reported Q2 revenue of $1.065 billion, up 166% year-over-year, with GAAP operating profit of $182 million. Despite solid fundamentals and a sizable backlog, the Oracle-related uncertainty remains a near-term overhang on the stock.

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