Bloom Energy reported record Q3 revenue of $1.07 billion driven by AI data center power project demand

With artificial intelligence growing at an unprecedented rate, the energy industry is facing a fundamental transformation. The areas demanding the most electricity are shifting in real time, and in 2026, clean energy projects have increasingly focused on serving AI data centers and their substantial power requirements. Energy companies have capitalized on this shift, generating significant revenue from supplying electricity to these facilities. Bloom Energy recently delivered record quarterly revenue of $1.07 billion, driven by accelerating demand from AI data center power projects.

Bloom Energy is an American provider of clean, on-site power generation platforms founded in 2001 and headquartered in San Jose, California. The company has built its reputation designing and manufacturing solid oxide fuel cells (SOFCs), known as Bloom Energy Servers, which convert fuels such as natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion.

In its second quarter ended June 30, 2026, Bloom Energy achieved revenue of $1,065.4 million, representing a 165.5% increase compared to $401.2 million in the second quarter of 2025. Product revenue reached $935.4 million, marking a 215.4% increase from $296.6 million. Gross margin expanded to 33.4%, a gain of 668 basis points from 26.7%, while Non-GAAP gross margin reached 34.3%, up 604 basis points from 28.2%.

The company's operating income reached $182.2 million, a swing of $185 million compared to a $3.5 million operating loss in the prior year. Non-GAAP operating income grew to $239.6 million, an increase of $211.0 million from $28.6 million. Cash flow from operating activities totaled $226.4 million, compared to negative $212.1 million in the prior year. Earnings per share reached $0.62, up $0.80 from a loss of $0.18.

KR Sridhar, Founder, Chairman, and Chief Executive Officer of Bloom Energy, commented: "The demand for Bloom Energy's solutions keeps accelerating every quarter as customers who traditionally defaulted to combustion technologies are now proactively choosing Bloom as a superior power solution. Today, all the major US hyperscalers and over a dozen U.S. neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories."

AI data center electricity demand is increasing rapidly, driven by high-density graphics processing units and hyperscale facility builds, which are projected to account for almost half of the nation's new power demand growth through 2030. Bloom Energy has become central to many of these projects due to its ability to deliver rapid deployment. The company provides fast on-site power installations for commercial and industrial users, circumventing the slow conventional grid connection timelines that typically constrain data center development. Data centers represent a key market for Bloom, reflecting its proven success in powering high-demand AI and cloud computing infrastructure where grid access limitations present a critical challenge.