Bloom Energy Corp (BE) shares are soaring 5.01% in pre-market trading on Monday, following a series of positive developments for the fuel cell manufacturer. The stock's surge comes after investment bank Jefferies raised its price target for Bloom Energy from $31 to $53, citing the company's recent $5 billion strategic partnership with Brookfield Asset Management (BAM).

The partnership, announced on October 13, positions Bloom Energy as Brookfield's preferred on-site power provider for its global AI factories. Under the agreement, Brookfield will invest up to $5 billion to deploy Bloom Energy's advanced fuel cell technology, supporting its AI infrastructure expansion. This collaboration marks Brookfield's first investment in dedicated AI infrastructure, focusing on large-scale AI factories and power solutions.

Adding to the positive sentiment, Bloom Energy recently reported strong Q3 earnings, with revenue of $519 million, up 57% year-over-year and beating estimates. The company also announced plans to expand its production capacity, targeting 2 gigawatts of annual fuel cell output by 2026. These developments have contributed to Bloom Energy's impressive performance in 2025, with the stock surging over 495% year-to-date as it transitions from a volatile clean energy stock to an AI industry favorite.