Shares of Bloom Energy Corp (BE) are soaring 21.08% in pre-market trading on Wednesday, following the company's impressive third-quarter earnings report, a significant strategic partnership announcement, and a series of analyst upgrades. The clean energy technology firm demonstrated robust growth and improved profitability, signaling strong momentum in its business operations.

Bloom Energy reported third-quarter revenue of $519 million, marking a substantial 57.1% increase year-over-year and significantly beating analyst estimates of $425.7 million. The company's adjusted earnings per share came in at $0.15, surpassing the consensus estimate of $0.09. This performance represents a remarkable turnaround from the same period last year. Adding to the positive sentiment, Bloom Energy announced a $5 billion strategic AI infrastructure partnership with Brookfield Asset Management, underscoring the growing intersection between clean energy solutions and artificial intelligence.

The strong quarterly results and strategic partnership news have reignited investor enthusiasm for Bloom Energy, which has been positioning itself as a key player in the clean energy transition. Several analysts have responded by raising their price targets, with Morgan Stanley increasing its target to $155 from $85, Mizuho raising to $89 from $79, and BMO lifting its target to $136 from $97. As the company continues to capitalize on the increasing demand for sustainable power solutions, particularly in AI-driven industries, it appears well-positioned for future growth and market leadership in the clean energy sector.