Bloom Energy Is Up 157% in 2026: Take Profits, or Hold On for the Ride?

Few companies sit closer to the race to power AI data centers than Bloom Energy (NYSE:BE). Bloom Energy shares have climbed 157% year to date (YTD) to $223.03, a run that leaves rival fuel cell stocks and the hydrogen sector well behind. The fuel cell maker has become a key supplier of on-site power for AI data center operators that can’t wait on grid connections.

Not long ago, Oracle (NYSE:ORCL | ORCL Price Prediction) confirmed Bloom Energy as the primary power source for Project Jupiter, its AI data center campus in New Mexico. Installation of Bloom Energy fuel cells is already underway at the site. That confirmation arrives before Q3 2026 results, scheduled for next week.

Data Center Exposure Splits the Fuel Cell Group

Meanwhile, FuelCell Energy (NASDAQ:FCEL) stock is up 77% YTD to $12.91, a strong gain that still sits well behind Bloom Energy shares. FuelCell manufactures utility-scale fuel cell platforms and earns revenue as modules are ordered, built and serviced.

Plug Power (NASDAQ:PLUG) stock is down 30% YTD to $1.38, moving in the opposite direction from Bloom Energy shares. Weighted toward hydrogen fuel and handling equipment, Plug Power’s business has little tied to stationary power for computing.

That split follows how much of each business serves data center power demand. Bloom Energy sells on-site fuel cell power platforms to data centers and other large users, placing it closest to that demand.

For comparison, the Global X Hydrogen ETF (NASDAQ:HYDR), which holds Bloom Energy, FuelCell and Plug Power among its names, is up 17% YTD. Moreover, as a broad-market gauge, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 12% YTD. Over the same stretch, this leaves Bloom Energy stock far ahead of the broad market.

Oracle Anchors the Case for Holding

Bloom Energy shares are supported by large data center customers such as Oracle committing to its fuel cells. Project Jupiter makes that tangible, since a primary power role on an AI campus is a far deeper commitment than a pilot.

Chief executive K.R. Sridhar has framed speed as Bloom Energy’s main edge with data center buyers. “Bloom will not be your bottleneck. We deliver power at AI speed and enable our customers to grow,” Sridhar declared. He added that when the business case is measured in months of AI compute, “the fastest dependable path to power wins.”

Management has also raised Bloom Energy’s revenue guidance for this year twice, a sign demand is exceeding earlier forecasts. Its fuel cells can run on natural gas, biogas or hydrogen and generate electricity on-site.

Elevated Expectations Raise the Bar

The case for taking profits on Bloom Energy shares is that the stock already assumes very large future order flow, so next week’s results have to confirm that demand, and a run of this scale leaves little margin for a disappointing quarter.

Even Bloom Energy’s chief executive has admitted he can’t be certain the pace of AI investment keeps accelerating. “I do not know for sure, and I will not insult you by pretending to,” Sridhar stated.

Large campus deliveries can make Bloom Energy’s revenue look concentrated in any single quarter. Construction schedules at big data center sites can slip, and management has acknowledged that project delays remain possible.

Third-Quarter Order Flow Is the Next Test

Bloom Energy’s third-quarter report next week may reveal if demand from customers like Oracle holds up at the pace priced into the stock. It may also reveal whether management lifts guidance a third time.

Given how far Bloom Energy shares have run, a rough earnings reaction is possible. Investors should keep their BE share positions at a size they can hold through that kind of move.

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