Bloom Energy (BE) Jumps 23% on More Supply Deals

We recently published 10 Double-Digit Winners You Wish You Bought Yesterday. Bloom Energy Corp. (NYSE:BE) is one of the last week’s top performers.

Bloom Energy saw its share prices grow by 23.04 percent week-on-week, as investors took path from cues of more supply deals with other companies.

This followed an interview with Bloomberg last Wednesday, where Bloom Energy Corp. (NYSE:BE) CEO KR Sridhar hinted at similar deals “coming soon” after a recently inked supply agreement with Oracle Corp.

Under the deal with the latter, Bloom Energy Corp. (NYSE:BE) will deliver fuel cell technology to select Oracle Cloud Infrastructure (OCI) data centers in the US to support the growing demand for its cloud computing services. Details about expected revenues and supply volume have not been disclosed.

In line with the booming artificial intelligence industry, Bloom Energy Corp. (NYSE:BE) was targeting to double its total capacity to 2 GW by the end of 2026 from 1 GW at present. Of the 1 GW, more than half is currently supplied to critical data centers.

In the second quarter of the year, Bloom Energy Corp. (NYSE:BE) narrowed its net loss attributable to shareholders by 31 percent to $42.6 million from $61.8 million in the same period last year. Revenues grew by 19.5 percent to $401.2 million from $335.8 million year-on-year.

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