TradingKey – Bloom Energy (BE) stock price hit a recent high of $292.72 on September 25. Just two months earlier, on July 29, the fuel cell manufacturer’s stock was at only $157, representing an astonishing gain of 86% over the period.

Not only did it significantly outperform the Nasdaq Composite Index and the Philadelphia Semiconductor Index over the same period, but it also outpaced popular memory stocks—SanDisk (SNDK) rose about 62%, and Micron (MU) gained roughly 32%.

So what allowed this company to significantly outperform the market during the AI investment boom? AI data centers are currently facing a practical problem: chips can be bought, but electricity may not be easily connected. Slow grid expansion and long delivery backlogs…