Shares of Bloom Energy Corporation declined sharply on Thursday, shedding 9.2% to close at $141.21. The move erased an early advance, with trading volume exceeding 10 million shares as the stock swung between a high of $160.20 and a low of $136.60.
The sell-off coincided with a broad retreat in technology equities. Market participants are increasingly demanding tangible proof that massive investments in artificial intelligence will translate into corporate profits. "This is shaping up as a 'show me' period for AI," noted one portfolio strategist.
Bloom Energy, a provider of solid-oxide fuel-cell systems, has been viewed as a potential beneficiary of the race to power energy-intensive AI data centers. The company recently reported annual revenue of $2.02 billion and disclosed a product backlog of approximately $6 billion. Management issued 2026 revenue guidance between $3.1 billion and $3.3 billion.
Other companies in the fuel-cell sector also traded lower. Plug Power fell roughly 4.6%, while FuelCell Energy declined about 5.2%.
The broader market decline occurred as traders positioned for Friday's release of the U.S. Consumer Price Index report. Recent robust employment figures have tempered expectations for imminent interest rate cuts from the Federal Reserve.
Analysts suggest Bloom Energy's stock has recently acted more as a momentum indicator than a stable industrial investment. The company's fortunes are tied to the data center build-out, but its share price remains sensitive to shifts in macroeconomic sentiment and the perceived timeline for AI-related capital expenditures to bear fruit.
