Bloom Energy’s stock is up 1,000% in a year because its fuel cells are solving AI’s data center power problem

Bloom Energy showcases an array of its fuel cell energy server stacks that offer on-site, off-grid power to data centers and much more. (Credit: Courtesy of Bloom Energy)

Aerospace engineer KR Sridhar always dreamed big: He used to work with NASA on technology to convert carbon dioxide into oxygen to support life on other planets or let humans breathe air on Mars. But as the Soviet Union fell and the space race slowed, Sridhar pivoted to providing clean energy technology for the rising global middle class.

He cofounded Ion America in 2001—renamed Bloom Energy five years later—with a focus on fuel cells that deliver cleaner, on-site, off-grid power. Fast-forward to today’s AI race, and Bloom’s products just so happen to mesh with the needs of the data center boom that’s starving for massive power generation growth very quickly.