Bloom Energy's top line surged on electricity demand stemming from the boom in artificial intelligence. Shares rose 19.66% to $135.55 in after-hours trading.

The power generation platform company said Tuesday its third-quarter loss narrowed to $23.1 million, or 10 cents a share, from $42.6 million, or 18 cents a share, a year earlier.

Stripping out one-time items, adjusted earnings were 15 cents a share, beating the consensus estimate of 10 cents expected by analysts polled by FactSet.

Revenue rose 57% to $519 million in the third quarter, soaring past analyst estimates for $428.4 million, according to FactSet. It is the fourth consecutive quarter in which Bloom has set a quarterly revenue record, the company said.

Chief Executive K. R. Sridhar said artificial intelligence has spurred surging demand for electricity. Bloom recently entered a $5 billion partnership with Brookfield Asset Management to make factories to supply compute and energy for AI.