Bloom Energy (BE +9.18%) stock is on an absolute tear in 2026, and it is showing no signs of slowing down. The solid oxide fuel cell manufacturer has seen its share value spike by over 259% thus far this year. Since last May, Bloom stock has exploded by over 1,610%.
NYSE: BE
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To put that in perspective: Bloom Energy made more gains over the last year than Nvidia has delivered over the past five.
That is not normal stock behavior. But Bloom is not a normal energy stock. Put differently: Bloom is one of the only clean energy companies with a deployable energy server that can produce on-site power for clients whose electricity needs exceed (or strain) grid capacity.
Think field hospitals, industrial parks, research facilities, mining sites, and data centers. Wherever 24/7 reliable electricity is needed, Bloom's servers essentially function as a mini power plant to supply it.
Image source: Bloom Energy.
2025 was undeniably Bloom's breakout year, with a $5 billion deal with Brookfield Asset Management to deploy fuel cells for Brookfield's AI factories. But the good news just keeps coming. On May 20, Bloom inked a $2.6 billion agreement with Nebius to supply power for Nebius' data centers in Europe.
Bloom stock surged to fresh new highs on the heels of that news.
Bloom Energy is no longer a secret, and its expensive valuation reflects the hype and expectations baked into its price. The company has a market cap of roughly $86 billion and trades at around 87 times book value.
Bloom isn't my favorite for value, but it remains a top pick for long-term growth. The stock may not explode 17-fold again, but if data centers continue to demand more electricity than the grid can provide, Bloom's future will involve big top-line growth that can sustain its momentum for the next five years.
