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Bloom Energy ( $BE) rocketed more than 50% in enormous volume that caused a temporary trading halt Friday morning. Late Thursday, the fuel cell power maker announced it signed a deal with American Electric Power ( $AEP) to provide power to artificial-intelligence data centers.…
Congratulations to @Bloom_Energy CEO KR Sridhar and team on the deal with American Electric Power (AEP)! Yesterday, BE announced a gigawatt fuel cell procurement agreement with @AEPenergy that will offer faster power for AI data centers. https://t.co/OVDuvpPDrk
Bloom Energy Corp. $BE shares soared the most ever in intraday trading Friday after American Electric Power Co. said it would use the company’s fuel cells to supply data centers. $AEP said in a release Thursday that the Bloom fuel cells would provide a quick solution to add… https://t.co/OKTgenmCus
Bloom Energy Corp. ($BE) experienced a significant surge in its stock, rising as much as 70% during intraday trading on November 15, 2024, following the announcement of a major supply agreement with American Electric Power Co. ($AEP). This deal, which involves the procurement of up to 1 gigawatt (GW) of Bloom's solid oxide fuel cells, is touted as the largest commercial procurement of fuel cells globally. Analysts from Piper Sandler upgraded Bloom Energy's stock rating to Overweight and raised the price target to $20 from $10, citing the estimated $3 billion value of the equipment alone from the AEP agreement. Evercore also increased its price target to $22, highlighting the significance of this deal in the market. The partnership aims to provide power solutions for AI data centers, marking a substantial advancement for Bloom Energy in the energy sector.
