tech
February 3, 2026
This data center power play is about to report earnings, and it has room to run, charts show
Bloom Energy is slated to report earnings on Thursday. The stock could rise further from here, according to the charts.
TL;DR
- Data center power demand is expected to more than double from 292 TWh in 2026 to 606 TWh by 2030.
- This would represent an increase from 6.5% of total U.S. power demand in 2026 to 11.7% by 2030.
- Around 30% of new data centers are expected to rely on on-site/behind-the-meter power by 2030.
- Bloom Energy provides fuel cells that convert natural gas, biogas, or hydrogen into electricity without combustion.
- Bloom has strategic partners in the data center industry, including Oracle, Brookfield, AEP, and Equinix.
- The company faces challenges with high valuation, converting orders to revenue, lengthy ordering timelines, and capital intensity.
- Potential regulatory changes regarding natural gas use and emissions standards are also a concern.
- The stock has seen significant price appreciation, and a target of $223-$245 is suggested.
- Analyst expectations show substantial EPS growth for 2027 and 2028.
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