Bloom Energy stock soared 20%, hitting an all-time high after CEO KR Sridhar hinted at new power supply deals for AI data centers. The company’s rapid deployment of on-site power solutions, like with Oracle, aligns with the surging demand for reliable energy sources in energy-intensive AI environments.

Sridhar revealed Bloom Energy is in talks with other major data center developers, aiming to double its current capacity to 2 GW by 2026. With a focus on speed and reliability, Bloom’s ability to deliver cost-efficient onsite power within 90 days positions it well to meet growing AI infrastructure needs.

Bloom Energy’s Q2 earnings showcased record revenue of $401 million, up 19.5% year-over-year, with operating income hitting $28.6 million. This marks the third consecutive quarter of record profits, demonstrating the scalability of Bloom’s business model as demand for its services rises.

CEO Sridhar highlighted the massive $500 billion capital expenditures from hyperscalers by 2025, with a significant portion allocated to power capital equipment. Bloom’s fully funded manufacturing expansion aims to reach 2 GW annual capacity, positioning the company to address the expanding market opportunity in enterprise power.

Analysts forecast Bloom Energy’s revenue to increase to $2.56 billion by 2027, with adjusted earnings expected to rise from $0.28 to $1.31 per share. Despite a forward earnings multiple of 78.5x, a potential 45% upside from current levels could see the stock trade around $65 in the next 12 months, based on a 50x multiple.

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