On July 31, Bloom Energy Corp rose 3.26% in after-hours trading, trading at 213.25 USD/share, with turnover of $29.74 million. The stock extended gains after surging over 25% during regular trading hours.

On the news front, Mizuho upgraded Bloom Energy from neutral to outperform with an adjusted price target of $242, catalyzing the sharp rally. The upgrade comes on the heels of the company's Q2 earnings report released on July 28, which showed record quarterly revenue of $1.065 billion — the first time exceeding $1 billion — representing a 166% year-over-year increase and far surpassing the consensus estimate of $823 million. Adjusted EPS came in at $0.78, beating the $0.40 estimate by 95%. The company raised full-year revenue guidance to $3.9-$4.2 billion, above the prior consensus of $3.73 billion. CEO Sridhar noted that all major U.S. hyperscale cloud providers and over twelve AI-related customers have completed validation, with AI data center power demand serving as the core growth driver. Additionally, the company expanded its AI infrastructure partnership with Brookfield to $25 billion.

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