Bloom Energy stock falls 16% despite two major data center deals

Fuel cell contracts with NTT DATA and Google could not shield shares from a post-midterm selloff in AI power stocks Bloom Energy announced two of the biggest contracts in its history on the same day. The next day, the stock fell approximately 16%. Two deals, 1,602 megawatts of fuel cells On November 5, 2026, Bloom Energy (NYSE: BE) said NTT DATA had agreed to deploy 900 megawatts of its solid oxide fuel cell systems. The systems will serve as the main onsite power source for several data center projects around the world. Bloom called it the company’s largest international deal to date. First shipments are expected in 2027. The agreement also has room to grow. It is structured so it could potentially scale to gigawatt levels across NTT Global Data Centers’ network. Then came the second announcement. Alphabet’s Google unveiled its first data center in Wyoming, a $17 billion project. Bloom will build the fuel cells for a 702-megawatt plant that will power the site. That plant will also include carbon capture technology. So Google gets onsite power and a way to trap some of the emissions that come with it. Put the two deals together and Bloom has lined up 1,602 megawatts of new capacit...