Bloom Energy shares have climbed roughly 52% since July 28, the day the Pelosi household made its second disclosed purchase of the fuel-cell company's stock. The rally comes as the company posts record revenue and prepares to join the S&P 500.
The Pelosi Trades
The Pelosi household bought 15,000 shares and 200 call options across two trades in July, with the second purchase at $166.84 on July 28. That was just days after the stock had hit a low around $163, following a 43% drop in the month before the first purchase on July 24. The decline was driven by a short seller report and AI-related volatility.
Pelosi's office has said she does not personally direct the household's trades. Quiver Quantitative estimates the Pelosi family's cumulative return on Bloom Energy near 965% since 2014. The filing dated August 21 also disclosed new Intel holdings.
AI Data Center Demand
Bloom Energy's Q2 revenue reached $1.065 billion, up 165.5% year-over-year, marking the first quarter above $1 billion. Management raised full-year guidance to $3.9-$4.2 billion, citing demand from AI data center customers. The company's fuel cells allow data centers to add electricity without waiting for grid upgrades, directly addressing the AI power bottleneck.
That positioning has turned Bloom into a key player in the race to power AI infrastructure. The revenue jump and guidance hike came after a period of turbulence, but the latest numbers suggest the market is buying the story.
S&P 500 Inclusion
Bloom Energy joins the S&P 500 on September 21, a move that could attract additional index-fund buying. Analysts flag nearly 40% upside in the stock's position, though they caution that the recent run has already priced in some of that optimism.
The inclusion is a milestone for a company that was trading below $10 a share just a few years ago. It also adds a layer of institutional demand that wasn't there before.
Insider Selling
Not everyone is buying. Company insiders sold about 144,000 shares last quarter, worth roughly $38.5 million. That's a notable amount, though not unusual for a company whose stock has surged.
The insider sales come as the stock sits near its recent highs. Investors will be watching whether that selling continues as the S&P 500 inclusion date approaches.
The stock joins the S&P 500 on September 21, and the question now is whether index funds will add to their positions or wait for a pullback.
