Bloom Energy Surges 15% as CoreWeave’s Results Lift AI Power Stocks; FuelCell Energy Climbs 5%, Plug Power Dips
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AI power stocks are rallying sharply after CoreWeave (NASDAQ:CRWV) posted results that relieved worries about how data center buildouts get funded. Bloom Energy (NYSE:BE) stock is at $213.09, up 15% in early dealings. Even with that jump, Bloom Energy stock is down 24% over the past month.
That decline came during a rough stretch for the group. Bloom Energy stock was among the S&P 500’s biggest losers on November 5 amid fears of data-center delays, after the midterm elections raised concerns such as Texas governor-elect Gina Hinojosa’s vow of “a moratorium, a ban, on all data center approvals.” Wells Fargo estimates that Texas accounts for 27% of planned U.S. data center capacity.
Over a longer window, the picture looks far stronger for Bloom Energy. The stock is up 145% year to date (YTD), so the recent decline came after a powerful run.
How CoreWeave’s Results Lifted Bloom Energy and Power Stocks
On November 11, CoreWeave’s results lifted AI-related shares, with Bloom Energy and other power stocks among the big winners. CoreWeave posted a third-quarter beat after the close on November 10 and raised its 2026 revenue guidance to $13 billion to $13.3 billion. The AI cloud provider also said it’ll lean on contracts and upfront payments from customers in place of unsecured debt, relieved fears about how AI data centers get paid for.
That link runs straight to Bloom Energy’s order book. Its on-site fuel cell power systems let data centers get electricity faster than waiting for grid connections. Confidence that AI facilities keep getting built and financed directly supports demand for those systems.
Bloom Energy’s rally comes as a top Fed official called the latest inflation report “borderline disturbing” while the Fed weighs more rate hikes. Rising rate expectations usually pressure capital-hungry growth stocks, which makes the strength in AI power names more notable.
What FuelCell and Plug Power Reveal About Bloom Energy’s Rally
FuelCell Energy (NASDAQ:FCEL) stock is at $10.84, up 5%. Like Bloom Energy, FuelCell makes stationary fuel cells and pitches them as data center power, and its Q3 FY2026 report showed a sales pipeline of 10 gigawatts with 97% tied to data centers. Shared exposure explains why FuelCell stock is moving in the same direction.
A weaker financial position lines up with FuelCell’s smaller gain. The company’s Q3 revenue fell 29.4% year over year (YoY) to $33 million and included a $17 million charge tied to pricing on its Fit Energy contract. Dilution adds pressure, as FuelCell’s share count climbed from 46 million to 80 million since October 2025.
Plug Power (NASDAQ:PLUG) stock is at $1.36, down 0.7%. Hydrogen production, electrolyzers and GenDrive forklift fuel cells make up the core of Plug Power’s business, which has little direct exposure to data center power. That gap suggests the rally is tracking AI data center exposure specifically.
Liquidity is another pressure point, since Plug Power disclosed on November 9 that its unrestricted cash fell to $134 million from $368.5 million at the end of 2025. Thinner cash reserves can leave a company like Plug Power more dependent on outside funding.
Bloom Energy’s Business Model Sets It Apart From Fuel Cell Peers
Bloom Energy builds solid-oxide Energy Servers that sit at the center of the AI power expansion, serving large cloud operators, AI labs and colocation providers. The company is already profitable on a reported basis, giving it room to expand manufacturing as orders grow.
FuelCell targets the same behind-the-meter market with carbonate fuel cells, yet it’s still scaling production at its Connecticut plant and operating at a gross loss. Plug Power sells into warehouses, industrial sites and green hydrogen projects, so its fortunes depend more on hydrogen economics and European clean fuel rules than on AI spending.
What Comes Next for Bloom Energy’s AI Power Rebound
Bloom Energy now faces the question of whether data center developers keep breaking ground as states such as Texas debate permitting limits. Bloom Energy has cited air permitting delays and a potential slowdown in AI adoption among its key risks.
Supporters of the stock can point to CoreWeave’s contract-backed funding plan as a sign that AI spending is durable, which could keep demand for fast on-site power strong (we covered seven companies supplying the AI data-center expansion, from power to cooling, in a free report you can grab here). Skeptics see the steep monthly decline and political pushback as signals that project timelines might slip. It could make sense to stay cautious while the Texas data center permitting debate plays out.
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David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk. His work has appeared in 24/7 Wall St., The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, MarketScreener, TalkMarkets, Finmasters, and others. With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.
