Bloom Energy Corp (BE) surged 5.29% in pre-market trading on Thursday, following the release of blockbuster second-quarter results that saw the company surpass $1 billion in quarterly revenue for the first time in its history.

The clean energy company reported Q2 revenue of $1.065 billion, a staggering 166% year-over-year increase that easily beat analyst estimates of roughly $823 million. Adjusted earnings per share reached $0.78, nearly double the consensus estimate of $0.40. Product revenue, which accounted for $935.4 million, soared 215% year-over-year, signaling that the growth is driven by tangible equipment sales rather than accounting adjustments. The company also expanded its gross margin to 34.3% and raised its full-year 2026 guidance to between $3.9 billion and $4.2 billion.

Adding to the positive momentum, Mizuho upgraded Bloom Energy to Outperform from Neutral, reflecting growing confidence in the company's ability to rapidly deploy on-site power to AI data centers. CEO KR Sridhar emphasized that Bloom's speed-to-power capability is a critical advantage, as traditional grid connections can take up to five years, leaving AI infrastructure idle. "Chips without power are inventory, not intelligence," Sridhar stated during the earnings call, underscoring the company's unique position in the AI infrastructure buildout.