Bloom Energy to join S&P 500 on September 21

Bloom Energy is set to join the S&P 500 index before the market opens on September 21. This inclusion is expected to drive demand as index-tracking funds are required to purchase shares to replicate the index.

The fuel cell manufacturer has seen significant growth, recently surpassing $1 billion in quarterly revenue. The company is positioning its 800V DC-native fuel-cell technology as a critical infrastructure solution for the artificial intelligence sector. Specifically, the company claims its systems could significantly reduce capital and ownership costs for large-scale data centers.

Recent project developments, such as the deployment of fuel cells for Aligned Data Centers’ 2-gigawatt project in Pennsylvania, have bolstered investor confidence. While the stock has faced volatility due to broader headwinds in the AI sector, Mizuho recently raised its price target for Bloom Energy to $351, citing strong demand signals and improved outlooks for EBITDA margins.