Bloom Energy Corp's stock soared 5.11% during intraday trading on Thursday, continuing its upward momentum after recent sessions of profit-taking.

The surge is fueled by the company's record first-quarter 2026 earnings results, which highlight Bloom Energy's dominant position in solid oxide fuel cell (SOFC) technology. A key growth catalyst is the surging power demand from AI data centers, underscored by a landmark announcement that Oracle, BorderPlex, and Bloom Energy will deploy up to 2.45GW of Bloom fuel cells to fully power an AI data center campus, positioning SOFC as a primary power source rather than just backup generation.

Adding to the positive sentiment, Barclays recently raised its price target on Bloom Energy to $254 from $177 while maintaining an Equalweight rating, reflecting growing institutional recognition of the company's earnings inflection point and expanding addressable market across both power generation and green hydrogen production via its Bloom Electrolyzer platform.