Overview
- Shares have fallen more than 40% from a 52‑week high of $147.86 to roughly $82, extending a volatile pullback from a huge 2025 run.
- The growth thesis centers on Bloom’s solid oxide fuel cells providing on‑site, 24/7 power for AI data centers facing grid constraints.
- Recent results show record quarterly revenue for four straight quarters, margin expansion year over year, and positive operating cash flow in Q3 2025.
- Sentiment was hurt by Blue Owl Capital withdrawing as a key financier for an Oracle data‑center project in Michigan, raising schedule and funding questions.
- Outlook for 2026 hinges on the pace of AI infrastructure build‑outs, with competition from FuelCell Energy and advanced nuclear developers, and a reported Brookfield investment plan that remains unconfirmed in public reporting.