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Bloom Energy: Don't Buy Just For S&P 500 Bonus (Rating Upgrade)

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Update - Sept. 24, 2026

Any dip on the Oracle Project Jupiter dip is just a buying opportunity. The demand for on-site power isn't slowing down and Oracle still has plans to deploy up to 3 GW of fuel cells with Bloom Energy.

-Bloom Energy (BE) shares fall 5.4% pre-market Thursday after Oracle (ORCL) sent the developer of its Project Jupiter data center site a notice citing force majeure, Bloomberg reported; the project is designed to be powered by Bloom Energy fuel cells.

-Oracle, down 4.5% pre-market, reportedly is seeking to protect itself ​from potential cost increases related ‌to the New Mexico project in New Mexico by sending the notice to developer ​Blue Owl.

-Oracle is aiming ​to delay payments if ⁠Project Jupiter fails to come online in 2028 as planned, rather than exiting ​as the ​main tenant, ⁠according to the report.

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Original article posted on Sept. 9

  • Bloom Energy is set for S&P 500 inclusion, reflecting its surging market cap and profitability amid booming AI data center power demand.
  • BE’s Q2’26 sales surged 165% to $1.07B, and 2026 revenue guidance was raised by ~$300M above consensus, signaling robust forward momentum.
  • Major deals with Oracle and Nebius, plus Brookfield’s $25B financing, position BE as a key on-site power provider for data centers facing grid constraints.
  • Despite a lofty P/S multiple near 20x 2026 sales, BE’s rapid revenue growth and underappreciated 2027/28 ramp support a renewed bullish thesis.

In somewhat of a surprise, Bloom Energy Corporation (BE) was included in the September rebalance for the S&P 500. The fuel cell company has ridden the data center power boom into the major index after starting 2024 nowhere close to the market cap needed for entry into the stock index. My investment thesis is back to bullish on the stock after the dip, though investors need to understand inclusion into a major index is no guarantee of success and doesn't alter the stock value.


Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please read the disclaimer page for more details. 






















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