Bloom Energy (BE) CEO Rejects Share Sale as AI Demand Doubles Stock Price

Bloom Energy Corp. (BE) CEO KR Sridhar said on June 1, 2026, the company has no plans to sell shares or raise capital, even after its stock price more than doubled this year, citing sufficient cash flow to fund expansion to meet surging demand from artificial intelligence data centers. Shares of the San Jose, California-based company have surged over 200% this year, closing at $273.51 on Monday, as investors bet on its fuel-cell technology for powering data centers. Sridhar said building a new factory costs $100 million to $150 million for one gigawatt of capacity, equivalent to a traditional nuclear reactor, and sales can recoup that investment within six months. “If there is a need, obviously, we will go and raise money, but there is no reason to just go raise money for us right now,” Sridhar said. Bloom recently agreed to supply up to 2.8 gigawatts of fuel-cell power to Oracle Corp. (ORCL) data centers. However, Citi analyst Vikram Bagri cautioned the stock appears fully valued amid rising competition to supply AI capacity needs, according to a May 28 research note.