Bloom Energy will join the S&P 500 on September 21, 2026, marking a major milestone for the fuel-cell company as its stock has surged 150% this year on soaring demand for onsite power at AI data centers.
The addition, announced September 4 by S&P Dow Jones Indices, will replace Molson Coors Beverage in the benchmark index. Bloom Energy shares jumped 7.5% in anticipation of the selection, according to reporting from Seeking Alpha.
The company’s inclusion reflects extraordinary growth driven by AI infrastructure buildout. In the second quarter of 2026, Bloom Energy reported record revenue of $1.065 billion, up 166% year-over-year, according to its July 28 earnings release. Product revenue alone grew 215%, powered by demand from data center operators seeking onsite power generation to reduce grid dependence and accelerate AI deployment.
Bloom Energy’s solid oxide fuel cells convert natural gas directly into electricity onsite, offering thermal efficiency gains over conventional grid power. The company supplies over 400 megawatts of power generation to data centers, according to its website. With a $5 billion strategic partnership announced in October 2025 to fund fuel cell deployments across AI data centers, the company raised full-year 2026 revenue guidance to $3.9 billion to $4.2 billion, representing 100% growth over 2025.
The S&P 500 inclusion follows a pattern seen in prior high-growth additions, though with mixed long-term outcomes. When Tesla joined the S&P 500 in December 2020, its stock rose 70% between the announcement in November and the inclusion date on December 21, according to reporting from the Wall Street Journal. However, research from Dimensional found Tesla’s long-term performance after inclusion was modest — shares closed around $247 three years later, only 6.7% above the $232 price on the day before inclusion, according to Bloomberg reporting from December 2023.
Analysts remain bullish on Bloom Energy’s near-term prospects. Mizuho upgraded the stock to Outperform with a $242 price target following the Q2 earnings beat, according to financial modeling data from July 30. The company’s backlog and the acceleration of AI data center buildout suggest sustained demand, though valuations remain elevated — the stock traded at around $244 in mid-August, according to Motley Fool reporting.
Bloom Energy’s S&P 500 entry reflects how the index evolves with technological change. The company became eligible for inclusion following positive Q1 earnings released on April 28, 2026, according to reporting from SmartKarma. Its rapid ascent underscores the market’s bet on onsite power as a critical bottleneck in AI infrastructure scaling.
Sources
- S&P Global — official announcement of Bloom Energy’s S&P 500 inclusion effective September 21, 2026
- Yahoo Finance — confirmation of S&P 500 selection and Bloom Energy replacing Molson Coors
- Seeking Alpha — stock price reaction (7.5% surge) to S&P 500 inclusion announcement
- Bloom Energy Investor Relations — Q2 2026 earnings release with record $1.065 billion revenue and 166% year-over-year growth
- Bloom Energy website — company supplies over 400 MW of power to data centers
- Hydrogen Insight — $5 billion strategic partnership announcement for AI data center fuel cell deployments
- Wall Street Journal — Tesla stock performance between S&P 500 announcement and inclusion date (70% rise)
- Bloomberg — Tesla’s long-term performance three years after S&P 500 inclusion
- Dimensional — analysis of Tesla’s stock price on inclusion day versus three years later
- Financial Modeling Prep — Mizuho upgrade to Outperform with $242 price target post-Q2 earnings
- Motley Fool — Bloom Energy stock price around $244 in mid-August 2026
- SmartKarma — Bloom Energy became eligible for S&P 500 inclusion following Q1 2026 earnings
