Why Did Bloom Energy Stock Jump 10% Today?
Increasingly negative sentiment toward data center growth has weighed on the shares of many AI infrastructure stocks. Bloom Energy (NYSE:BE) is a prime example, as its backlog of business is heavily reliant on data center projects. That helps explain why Bloom stock has declined about 25% in just the last month. Investors are pushing past that negativity today, after word that Bloom signed a new memorandum of understanding (MOU) that could expand the use cases for its fuel cell technology. The news had investors bidding Bloom shares up more than 12% this morning. As of 12:12 p.m. ET, Bloom stock was still up 9.5%. Image source: The Motley Fool. Continue reading