Mizuho Reaffirms Neutral on Bloom Energy (BE) After $5B Brookfield AI Power Deal

Bloom Energy Corporation (NYSE:BE) is one of the AI Stocks in Focus on Wall Street. On October 13, Mizuho reiterated its Neutral rating on the stock with a $79.00 price target.

The rating affirmation follows Bloom Energy’s announcement of a significant partnership with Brookfield, a leading global investment firm, to build AI factories that can meet compute and power demands of artificial intelligence.

According to the deal, Brookfield will invest up to $5 billion to deploy Bloom’s advanced fuel cell technology, reaffirming Bloom’s role in data center projects. Mizuho estimates reveal that Bloom will supply an estimated one-sixth of Brookfield’s data center power needs over the next five years.

This translates to roughly 200 MW per year of orders. The first order for Europe is anticipated later this year and will likely be approximately 100 MW.

Mizuho now tracks over 850 MW per year of order visibility for Bloom Energy over the next 3-5 years. However, it noted how Bloom still faces manufacturing limits. While current visibility doesn’t support more than 2 GW per year of manufacturing capacity, the firm continues to estimate Bloom will reach 5 GW per year of capacity by 2029.

Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.

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