2 months ago
Bloom Energy (NYSE:BE) just added another name to its growing list of AI infrastructure customers. On August 6, the company announced an expanded partnership with MiTAC Computing Technology Corp., a subsidiary of MiTAC Holdings Corporation, to deploy a fuel cell microgrid at MiTAC's AI server manufacturing campus in Fremont, California. It is a small deal in isolation, but it fits a pattern that has turned Bloom into one of the more talked-about names in the AI power trade.
The MiTAC expansion builds on an existing installation at the company's San Jose facility, and it will run as an islanded microgrid, meaning it operates independent of the local grid entirely. That matters because manufacturers building AI servers are running into the same power bottlenecks as the data centers buying their products. Bloom's Chief Commercial Officer Aman Joshi noted the company now serves nearly two dozen AI infrastructure customers with about 250 megawatts of contracted capacity, up from nearly zero just two years ago. Fuel cells generate power through an electrochemical process rather than combustion, which sidesteps permitting delays, water constraints and noise limits that can slow down traditional generation.
That growth shows up in the numbers too. Bloom's backlog reached $20 billion at the start of 2026, and product orders within that backlog rose 140% year over year, according to ****** ysis from Reuben Gregg Brewer published August 5. The company posted its first billion-dollar revenue quarter, and management raised full-year 2026 guidance to a range of $3.9 billion to $4.2 billion, per ****** ysis from Steven Porrello also published August 5. Wall Street currently expects revenue to more than triple over the next two years, and Bloom was profitable in both the first and second quarters of 2026.
The service portion of that backlog, roughly $14 billion of the $20 billion total, is the more durable piece of the business, since every fuel cell sold locks in an annuity-like service contract. But Brewer's ****** ysis points out that Bloom's overall profitability only turned positive in 2026, after losses in 2024 and 2025 even while the services business alone stayed profitable since 2024.
The stock has also been volatile. Shares are up roughly 500% over the trailing year but have pulled back about 35% from their highs, trading near $218 after touching roughly $345. Brewer argues that much of the good news already appears priced in, and that only aggressive growth investors should consider buying after such a rapid move. Even on a forward basis, Porrello notes the stock trades around 11 times next fiscal year's expected sales, a multiple that still ****** umes the AI buildout keeps accelerating without interruption.
#power #backlog #Analysis
The MiTAC expansion builds on an existing installation at the company's San Jose facility, and it will run as an islanded microgrid, meaning it operates independent of the local grid entirely. That matters because manufacturers building AI servers are running into the same power bottlenecks as the data centers buying their products. Bloom's Chief Commercial Officer Aman Joshi noted the company now serves nearly two dozen AI infrastructure customers with about 250 megawatts of contracted capacity, up from nearly zero just two years ago. Fuel cells generate power through an electrochemical process rather than combustion, which sidesteps permitting delays, water constraints and noise limits that can slow down traditional generation.
That growth shows up in the numbers too. Bloom's backlog reached $20 billion at the start of 2026, and product orders within that backlog rose 140% year over year, according to ****** ysis from Reuben Gregg Brewer published August 5. The company posted its first billion-dollar revenue quarter, and management raised full-year 2026 guidance to a range of $3.9 billion to $4.2 billion, per ****** ysis from Steven Porrello also published August 5. Wall Street currently expects revenue to more than triple over the next two years, and Bloom was profitable in both the first and second quarters of 2026.
The service portion of that backlog, roughly $14 billion of the $20 billion total, is the more durable piece of the business, since every fuel cell sold locks in an annuity-like service contract. But Brewer's ****** ysis points out that Bloom's overall profitability only turned positive in 2026, after losses in 2024 and 2025 even while the services business alone stayed profitable since 2024.
The stock has also been volatile. Shares are up roughly 500% over the trailing year but have pulled back about 35% from their highs, trading near $218 after touching roughly $345. Brewer argues that much of the good news already appears priced in, and that only aggressive growth investors should consider buying after such a rapid move. Even on a forward basis, Porrello notes the stock trades around 11 times next fiscal year's expected sales, a multiple that still ****** umes the AI buildout keeps accelerating without interruption.
#power #backlog #Analysis
2 months ago
The massive investment in building AI data centers is one of the biggest storylines this year. It coincides with a similar headline. Power is the biggest bottleneck in developing this crucial AI infrastructure. That's driving robust demand for all forms of power, including gas, nuclear, and battery storage.
However, data centers aren't the only AI infrastructure that requires power. The companies manufacturing the chips, servers, and other equipment vital to these facilities also need energy. That's providing an additional opportunity for Bloom Energy (NYSE: BE) to cash in on the AI power story. The hydrogen fuel cell company recently expanded its partnership with MiTAC Computing Technology, a leader in high-performance, energy-efficient server solutions for AI data centers.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bloom Energy will deploy fuel cell systems for an islanded microgrid at MiTEC's AI server manufacturing campus in Fremont, California. It's an expansion of its existing partnership with MiTEC. Bloom has also installed a fuel cell microgrid at the company's San Jose manufacturing facility.
Companies like MiTEC are facing the same power constraints as AI data center developers. They need more power quickly, which is an issue given the time required for permitting and grid interconnection. They can't wait for the grid to supply their needs, which is why they're turning to Bloom Energy's rapidly deployable onsite power solutions.
#NVIDIA
However, data centers aren't the only AI infrastructure that requires power. The companies manufacturing the chips, servers, and other equipment vital to these facilities also need energy. That's providing an additional opportunity for Bloom Energy (NYSE: BE) to cash in on the AI power story. The hydrogen fuel cell company recently expanded its partnership with MiTAC Computing Technology, a leader in high-performance, energy-efficient server solutions for AI data centers.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Bloom Energy will deploy fuel cell systems for an islanded microgrid at MiTEC's AI server manufacturing campus in Fremont, California. It's an expansion of its existing partnership with MiTEC. Bloom has also installed a fuel cell microgrid at the company's San Jose manufacturing facility.
Companies like MiTEC are facing the same power constraints as AI data center developers. They need more power quickly, which is an issue given the time required for permitting and grid interconnection. They can't wait for the grid to supply their needs, which is why they're turning to Bloom Energy's rapidly deployable onsite power solutions.
#NVIDIA
1 yr. ago
MiTACs bold play at COMPUTEX 2025: Redefining sustainable AI with liquid-cooled server power https://business-news-toda... #MiTAC #COMPUTEX2025 #AI #HPC #LiquidCooling #NVIDIA #AMD #Intel #Datacenter
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