Key Updates on Vertiv and Bloom Energy
Vertiv Holdings reported a data-center backlog of $15 billion as of Q1 2023, reflecting a 30% revenue increase to $2.65 billion year-over-year. The company’s adjusted earnings per share jumped 83% to $1.17, bolstered by strong demand in the Americas, which grew 44%.
Bloom Energy saw its revenue soar by 130% year-over-year to $751 million in Q1 2023, transitioning from a loss to a profit of approximately $71 million. They have expanded agreements with Oracle for up to 2.8 gigawatts of fuel cells and raised their full-year revenue guidance to a potential $3.8 billion.
Both companies are capitalizing on increasing power and cooling demands for AI data centers, although their stock prices reflect high valuations—Vertiv at around 50 times forward earnings and Bloom Energy exceeding 100 times.
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