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BUZZ-Bloom Energy jumps on Q3 results beat, AI power demand surge

Reuters
Oct 29
BUZZ-Bloom Energy jumps on Q3 results beat, AI power demand surge

** Shares of fuel-cell maker Bloom Energy BE.N jump 18.1% to $138.82 premarket after Q3 profit, revenue beat estimates

** BE set to open at a record high, if current gains hold

** Co's installation revenue more than doubles year-on-year as power demand for AI infrastructure surges

** Brookfield Asset Management BAM.TO said on October 13 it would invest $5 billion in BE's fuel cell technology to power data centers, sending BE shares up 26.5%

** AI-led power demand in U.S. will have consumption reach a record high in 2025 and 2026, according to the Energy Information Administration

** BE beats revenue estimates for the fourth consecutive quarter

** YTD, BE is up more than five fold vs 13.6% gain for the NYSE Composite Index .NYA in the same period

(Reporting by Utkarsh Tushar Hathi)

((utkarshtushar.hathi@thomsonreuters.com))

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