Bloom Energy Falls Despite Baird’s $351 Target, as AI Funding Fears Grow

Bloom Energy shares fell around 4.5% during trading on October 15, despite a positive analyst action. Robert W. Baird maintained its “outperform” rating and raised its price target to $351 from $310.

Investor concerns about financing costs in the AI data center industry overshadowed the upgrade. Reports of high borrowing costs for data center operator CoreWeave and the recent cancellation of a $5 billion IPO by Nvidia-backed operator Firmus raised fears that expensive capital could slow data center construction and reduce demand for Bloom’s fuel cells.