MW Bloom Energy is riding the AI wave with a major lift from Oracle

By Claudia Assis

The hot energy stock is tracking toward another big gain after blowout earnings

Bloom Energy's stock has been on a tear this year, and rallied on Tuesday.

Shares of Bloom Energy rallied more than 12% in after-hours trading Tuesday as the alternative-energy company touted an expanded AI-related partnership with Oracle and its quarterly sales more than doubled year over year.

Wall Street is "recognizing and embracing" Bloom's clean and reliable onsite power, CEO K.R. Sridhar said on a call with analysts after posting results, citing as an example the expanded Oracle deal, which was unveiled earlier this month.

Sridhar highlighted Bloom's $(BE)$ role in an Oracle $(ORCL)$ AI facility to be built in New Mexico. There, previously planned gas turbine and diesel generators will be replaced by Bloom's fuel-cell systems.

Bloom Energy shares have gained more than 160% this year; on a 12-month basis, the shares are up more than 1,000%.

The company said its first-quarter revenue rose 130% year over year to $751.1 million, which came ahead of Wall Street's expectations for $540 million, according to FactSet.

Non-GAAP profit of 44 cents a share in the quarter compared with FactSet consensus for 12 cents a share.

Bloom also raised its outlook for the year, saying it expects 2026 revenue between $3.4 billion and $3.8 billion.

In February, the company had predicted 2026 revenue between $3.1 billion and $3.3 billion. Analysts surveyed by FactSet expect 2026 revenue of $3.2 billion.

It also called for non-GAAP profit between $1.85 a share and $2.25 a share for the year, which compares with its previous expectation of $1.33 a share to $1.48 a share, and FactSet estimates of $1.42 a share.

Bloom was built around the conviction that clean, reliable and affordable onsite power would be essential to a digital world, Sridhar said on the call.

"The market is now validating that vision at scale. And AI-powered demand is simply accelerating it," he said.

-Claudia Assis

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April 28, 2026 18:16 ET (22:16 GMT)

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