BE Stock Outpaces Clean Energy ETFs: Is Wall Street Repricing Bloom Energy As AI Infrastructure Play?

Bloom Energy has drawn attention in recent weeks amid two major catalysts: Former House Speaker Nancy Pelosi disclosing a multi-million-dollar position last week and its addition to the S&P 500.

• Pelosi’s overall disclosed portfolio value in Bloom Energy is valued between $3 million and $12 million.
• The stock has had a blockbuster year in 2026, soaring more than 219%. 
• Meanwhile, iShares Global Clean Energy ETF (ICLN) has risen nearly 12%, while the SPDR S&P Kensho Clean Power ETF (CNRG) has gained just more than 3% in the same time. 

Bloom Energy (BE) stock has become one of the biggest clean-energy winners of 2026, but investors may no longer be valuing the company simply as a fuel-cell provider. BE shares have surged 219% this year, outpacing clean-energy ETFs, as two fresh catalysts in recent weeks have put the stock in focus.

Earlier in August, Former House Speaker Nancy Pelosi disclosed multi-million-dollar stock and option acquisitions in the clean energy provider, while last week, it was announced that BE stock would be included in the S&P 500 from Sept. 21 as part of the index’s quarterly rebalance. 

BE stock closed up more than 9% on Tuesday, capping off five consecutive sessions in the green. 

BE Stock Leaves Clean Energy ETFs In The Dust 

The stock has had a blockbuster year in 2026, soaring more than 219%. 

Bloom Energy has surged past major clean energy exchange traded funds this year. For instance, iShares Global Clean Energy ETF (ICLN) has risen nearly 12%, while the SPDR S&P Kensho Clean Power ETF (CNRG) has gained just more than 3%. BE stock has outperformed both by a strong margin, putting its rise in the leagues of AI companies. 

The Advantage Of S&P 500 Inclusion

Inclusion in the S&P 500 index has been a major catalyst for its recent price hike. It is not just a matter of prestige for BE, which is the first energy inclusion since 2022, but it can also attract significant investment from index funds as part of mandatory requirements. 

Clear Street said on Tuesday that it expects the S&P 500 inclusion to attract more investment from institutional investors, including mutual funds and passive exchange-traded funds that track the index. The analyst also highlighted Bloom’s strong order momentum, and raised its price target on the company to $330 from $290 and maintained a ‘Buy’ rating, according to The Fly.

Earlier in the week, UBS analyst Manav Gupta also raised the stock’s target to $325 from $300 while maintaining a ‘Buy’ rating. He called the inclusion a “significant positive catalyst,” noting that S&P 500 additions have historically driven meaningful increases in passive ownership.

As per Koyfin data, the stock has a 12-month average price target of $276.05, which it has already breached on Tuesday. Of the 29 analysts covering the stock, a majority have a ‘Buy’ or higher rating on the company’s shares. 

The Pelosi Trade Put BE Stock On Retail’s Radar

Meanwhile, markets are also zeroing in on Pelosi’s recent purchase of Bloom Energy shares, which came ahead of its S&P 500 inclusion. 

As per official disclosures filed with the Clerk of the House of Representatives, Pelosi listed the purchase of 10,000 Class A common shares on July 24, consisting of valued between $1 million and $5 million, alongside a hundred call options with a $100 strike price expiring on June 17, 2027, also valued between $1 million and $5 million. 

The Former House Speaker subsequently made a secondary transaction on July 28 by adding another 5,000 common shares valued between $ 500,000 and $1 million, and an additional hundred call options at the same $100 strike price and June 2027 expiration, valued between $ 500,000 and $1 million.

This put the overall disclosed portfolio value in Bloom Energy between $3 million and $12 million.

“6 weeks ago, Nancy Pelosi bought Bloom Energy. Now, $BE will join the S&P 500 on September 21. The greatest trader of our generation has done it again!” Barchart said in a post on X. 

Retail investors also noted the purchase. One user said, “$BE Yup, should have jumped back in when Pelosi added 😆. Always winning when you have insider info. SP500 is a surprise, but I think she's in for another reason. Congrats to the current holders.”

Another user said, “$BE btw, Nancy didn’t buy because of s&p inclusion. It’s something way bigger such as legislation requiring data centers to bring their own power.”

Is Bloom Energy Becoming A Data Center Play?

As the stock keeps up its stellar performance, some Wall Street analysts are noting that the company’s market view is quickly shifting from a fuel-cell energy firm to an infrastructure company. 

Photon Capital noted in a post on X that Bloom Energy’s recent trajectory, including its fundamentals – with a second-quarter revenue of $1.065 billion, up 166% YoY, and product revenue increase of 215% – as well as other factors such as its power solutions being validated by major U.S. hyperscalers, neoclouds, AI labs, and colocation operators is “positioning its technology as a way to circumvent long grid-interconnection timelines for AI infrastructure.”

The analyst also noted the expanded Brookfield AI infrastructure financing framework, the introduction of Power Connect, and its recent S&P 500 inclusion. 

“There was no sudden mega-order announced today that fundamentally explains an 8% to 10% jump,” Photon Capital said. 

“The bigger story, however, is that $BE was already being rerated before the index announcement. As the AI infrastructure bottleneck shifts from GPUs → networking → power, companies capable of delivering MW-scale power without waiting years for grid expansion may command a much larger valuation premium,” the firm added. 

The firm added that the market increasingly seems to be valuing Bloom as more than a fuel-cell company, but as an infrastructure company that can turn on an AI factory before the grid can. 

“S&P 500 inclusion is accelerating that rerating rather than creating the thesis itself,” it said. 

BE Stock: Retail Stance

On Stocktwits, retail sentiment around BE stock was ‘bullish’ at the time of writing, even as message volumes jumped 171% in 24 hours, according to platform data. 

One user said, “$BE Added to the S&P 500, Nancy Pelosi bought it, and is one of the most watched stocks of 2026!  I could easily imagine buying volume pushing this stock up to $300+!”

Another user said, “$BE this is at least  $1,000 stock. No one knows what’s coming and how much their revenue is going to grow. This quarter should start to show even crazier growth and will only get better each quarter.”

BE stock has gained more than 400% in the last one year. 

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