Bloom Energy’s stock has gained over 1,000% in the past 12 months. That’s not a typo, and it’s not a memecoin. It’s a fuel cell company riding the single most powerful narrative in markets right now: AI needs electricity, and there isn’t enough of it.
The solid oxide fuel cell manufacturer has positioned itself at the exact intersection of two mega-trends, the explosive scaling of AI infrastructure and the growing inadequacy of existing power grids to support it.
The deals driving the rally
In early July 2026, Bloom Energy and Brookfield Asset Management expanded their strategic partnership from $5 billion to a staggering $25 billion. That five-fold increase is earmarked for financing AI infrastructure power projects, essentially betting that data centers will increasingly need to generate their own electricity onsite rather than relying on overburdened utility grids.
Then there’s Oracle, which signed agreements with Bloom for up to 2.8 gigawatts of fuel cell systems. To put that in context, 2.8 GW is roughly equivalent to the output of two or three nuclear power plants. That’s a single customer.
