AI Powerhouse Loses $5 Billion in a Day Amid Valuation Warning

Fuel cell company Bloom Energy Corporation (NYSE: BE) plunged 12.11% on the US stock market, closing at $117.10 and dragging its market capitalization down to about $32.8 billion (roughly ₩47 trillion). Some $3.5 billion (around ₩5 trillion) in market value evaporated in a single day as trading volume topped 7.02 million shares, signalling a wave of short-term profit-taking and stop-loss orders. Given that the stock had surged nearly sixfold over the past year, analysts say concerns over overvaluation abruptly surfaced.

Jefferies recently maintained its Underperform rating on Bloom Energy but cut its price target to $97, citing overheated valuation and intensifying competition. The company also plans to appoint Simon Edwards—formerly of AI semiconductor maker Groq—as Chief Financial Officer effective April 13.

Bloom Energy is a US clean-energy firm that supplies on-site power using solid oxide fuel cells. It has been growing by targeting AI data centers and other large power consumers, securing a $2.65 billion fuel-cell project with American Electric Power (AEP) and forging a roughly $5 billion partnership with Brookfield.