Shares of Bloom Energy Corp (BE) soared 13.59% during intraday trading on Thursday, extending a rally that began in the pre-market session after the company reported blockbuster second-quarter results and received an analyst upgrade.

The surge was primarily driven by the company's Q2 earnings, which saw revenue surpass $1 billion for the first time in its history. Revenue reached $1.065 billion, a 166% year-over-year increase that easily beat the consensus estimate of roughly $823 million. Adjusted earnings per share came in at $0.78, nearly double the $0.40 analyst expectation. Gross margin expanded significantly, and the company raised its full-year 2026 revenue guidance to between $3.9 billion and $4.2 billion, above prior consensus. CEO KR Sridhar highlighted that all major U.S. hyperscalers have validated Bloom's technology, and the company's rapid on-site power deployment capability is a key advantage in meeting urgent AI data center demand, bypassing years-long grid connection delays.

Adding to the bullish momentum, Mizuho upgraded Bloom Energy to Outperform from Neutral, citing confidence in the company's growth trajectory tied to AI infrastructure. The upgrade, combined with the record-breaking financial performance, fueled a sharp upward move in the stock as investors reassessed the company's position in the AI power supply chain.