Bloom Energy Stock Takes a Hit Amid Project Uncertainty
Shares of Bloom Energy (NYSE: BE) dropped nearly 10% by 1:30 p.m. ET on Wednesday. This decline comes after the company was implicated in the pause of a significant AI data center project in Cheyenne, Wyoming, originally slated for 1.8 gigawatts (GW) and potentially expanding to 10 GW.
Crusoe Energy, which was developing the Cheyenne project for clients including Microsoft and OpenAI, has temporarily halted development. However, Black Hills (NYSE: BHK), providing grid infrastructure for the project, confirmed that the project’s timelines remain unchanged, expecting it to begin by early 2028. The uncertainty around AI spending and potential delays in data centers raises concerns for Bloom Energy’s revenue prospects.
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