Bloom Energy’s (NYSE: BE) Q3 earnings report shows strong growth despite uncertainty surrounding Oracle’s (NASDAQ: ORCL) force majeure notice. While a headwind, it is offset by numerous tailwinds, and investors must not get this wrong: Bloom's broader growth outlook does not depend solely on Oracle's Project Jupiter, although any significant delay or cancellation would still carry risks.
The project represents roughly 2.4 GW, or about 10% of the 25 GW of potential deployments Bloom has identified, rather than its contracted backlog, which is growing and diversifying across industrial applications. Bloom has other clients to sell to.
