KC @kasualcrypto - Twitter Profile

$BE just touched $300 yesterday and people are asking if the run is over. It is not even close to over. Q1 just dropped and it was one of the most dominant earnings prints in this company’s history. Revenue $751 million against $540 million expected. A $211 million beat. 130% revenue growth year over year. EPS of $0.44 against $0.13 expected. A 238% earnings beat. Adjusted EBITDA $143 million versus $25 million a year ago. Operating income jumped from $13 million to $129 million in twelve months. And then they raised guidance. Full year 2026 revenue now guided to $3.4 to $3.8 billion. EPS guided to $1.85 to $2.25. Both dramatically above what the street was modeling before today. Morgan Stanley raised their price target to $310. RBC raised to $335. UBS raised to $251. Baird initiated at $242. But the story is not about one quarter. AI data centers are moving to 800 VDC power architecture. Bloom’s solid oxide fuel cells natively supply exactly that voltage. Every next generation server farm being designed right now is being engineered for the way Bloom already delivers power. The alignment between Bloom’s technology and where AI infrastructure is heading is not a coincidence. It is why Oracle signed a 2.8 gigawatt deal. It is why Project Jupiter in New Mexico is replacing gas turbines and diesel generators with Bloom fuel cells at a 2.45 gigawatt AI campus. And Amazon has not called yet. Microsoft has not called yet. Google has not called yet. Oracle proved that Bloom can deploy gigawatt scale in 55 days while everyone else waits years for grid connections. That reference case shortens every future sales cycle with every other hyperscaler facing the same power problem. And every single hyperscaler is facing the same power problem. Goldman Sachs projects AI data center electricity demand surges 220% by 2030. The grid cannot build fast enough. Permits take years. Transmission lines take decades. Bloom bypasses all of it. On site. In weeks. The stock doubled in the last few weeks from $135 to $290. The bears will say it ran too far too fast. They said the same thing at $50. At $100. At $200. The demand is real. The technology is proven. The customers are the largest companies on earth. And the backlog is just getting started.