Why Shares of Bloom Energy Are Rocketing Higher Today

• A portion of AEP plans connected buying $2.65 cardinal successful substance cells from Bloom Energy for a caller powerfulness procreation facility.

• AEP and Bloom Energy announced an statement successful 2024 regarding a imaginable acquisition of up to 1,000 megawatts of substance cells.

• Shares of Bloom Energy are trading astatine a steep valuation with respect to aboriginal earnings.

• 10 stocks we similar amended than Bloom Energy ›

In opposition to the S&P 500, which is trading level today, shares of Bloom Energy (NYSE: BE) are moving sharply higher. Investors look motivated to powerfulness their portfolios with the substance compartment specializer acknowledgment to a customer's intent to marque a sizable purchase.

As of 11:24 a.m. ET, shares of Bloom Energy are up 10.7%.

Taking a important measurement person to processing a substance compartment powerfulness facility, American Electric Power (NASDAQ: AEP) announced that 1 of its units plans connected purchasing $2.65 cardinal worthy of coagulated oxide substance cells from Bloom Energy, according to a study from Reuters.

The quality contiguous hearkens backmost to an statement the companies announced successful 2024, erstwhile American Electric Power revealed plans to initially acquisition 100 megawatts (MW) of coagulated oxide substance cells from Bloom Energy with the enactment to get an further 900 MW, related to the improvement of powerfulness procreation facilities for information centers providing the infrastructure for artificial quality (AI) computing.

Trading astatine 125 times guardant earnings, Bloom Energy banal is hardly inexpensive close now. But for investors who are little funny successful worth stocks and much motivated to summation vulnerability to the substance compartment and hydrogen industry, Bloom Energy represents 1 of the starring options.

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