Bloom Energy’s shares soared over 1,000% within a year, a rare leap for a solid oxide fuel cell maker. This rally reflects a simple but massive shift: AI data centers are guzzling electricity at unprecedented rates, and traditional grids can't keep up.

Take Oracle’s recent agreement with Bloom Energy for up to 2.8 gigawatts of fuel cell power. That’s roughly the output of a couple of nuclear power plants, compressed into onsite setups at data centers. Oracle’s deal shows how companies fueling AI workloads are looking for reliable, massive electricity sources without waiting on overloaded utility grids.

The partnership with Brookfield Asset Management also grabbed headlines when it jumped from $5 billion to $25 billion this July. This capital will finance AI infrastructure projects that generate power right where data centers stand, bypassing the grid’s bottlenecks. This shift is backed by Bloom’s mid-2026 report showing 61% of data center developers want onsite power in case grid capacity fails them. The report projects US IT energy demand could almost double to 150 gigawatts by 2028, and 30% of data centers may adopt onsite solutions like Bloom’s fuel cells within seven years.

Another angle is the crypto industry pivoting its power-hungry Bitcoin mining operations into AI workloads hosting. Companies such as Core Scientific and Hut 8 have started this transition. These facilities face the same problem: where to get enough steady electricity. Bloom Energy’s fuel cells might become a critical part of that transformation.

However, the ride hasn’t been without turbulence. After peaking in June 2026, Bloom’s stock slid about 39%, showing investors remain cautious despite the excitement. Still, the broader trend of AI’s insatiable power appetite is reshaping how energy infrastructure must evolve, pushing companies like Bloom into the spotlight.

Celestica’s strong AI-driven growth highlights how different sectors are scaling rapidly alongside these energy demands.

This content is for informational purposes and does not constitute financial advice.