AI Hydrogen Stocks Soar, But 14 Trillion Won Vanished in a Day

On the New York Stock Exchange, fuel cell provider Bloom Energy Corporation (BE) closed at $257.38 per share, plunging 16.83% from the prior session and erasing roughly $10.5 billion in market capitalization (about ₩14 trillion). Some 22 million shares changed hands as sellers unloaded positions at the peak of the recent rally.

International outlets attribute the sell-off to profit‐taking by momentum investors after the stock soared 1,300% over the past year, amid intensifying competition in the AI data-center power market, valuation pressures, and short-seller Jim Chanos’s warning of an “AI energy bubble.” Nonetheless, Bloom Energy projects 2025 revenue of $2 billion (about ₩2.7 trillion), a 37% year-over-year increase, and reports an order backlog near $20 billion—driven largely by AI data-center demand—underscoring ongoing fundamental improvement.

Founded in 2001 and headquartered in San Jose, California, Bloom Energy develops solid oxide fuel cells that deliver on-site power to data centers and manufacturing facilities via its “Bloom Boxes,” and provides distributed energy through electrolyzer systems. Founder and CEO K.R. Sridhar anticipates structural growth in on-site power needs as AI data centers and the hydrogen economy expand, and has built the company’s growth story by securing major long-term deals, including a 2.8 GW fuel cell supply agreement with Oracle.