Data centers are expanding rapidly to meet the demand for artificial intelligence, leading to a significant rise in energy consumption. Companies like Bloom Energy and Oklo are developing on-site power solutions to address this need. Energy demand is projected to grow five times faster over the next decade than in the previous one.

Goldman Sachs predicts that data center electricity use in the U.S. will increase from 3% of total demand in 2022 to 8% by 2030. Bank of America Institute estimates a 2.5% growth in energy demand over the next decade, driving a need for global grid upgrades. Companies like Microsoft, Alphabet, and Amazon are turning to renewable energy sources.

Bloom Energy specializes in solid oxide fuel cell systems that can be quickly deployed to meet energy needs. Oklo is developing advanced fission power plants based on fast-reactor technology. Both companies are benefiting from the surge in energy demand driven by data center expansions for AI applications.

Bloom Energy’s stock has surged 285% this year, while Oklo’s has risen 252%. Bloom Energy’s ready-to-deploy energy solutions make it a better investment choice for 2026, with projected revenue of $1.9 billion this year and a 30% increase expected next year. Oklo’s commercial powerhouses won’t be operational until 2027 or 2028.

Read more at Yahoo Finance: Better Energy Stock to Own in 2026: Bloom Energy or Oklo?