Electricity is becoming a significant challenge for the artificial intelligence (AI) sector. According to Goldman Sachs, the power needs of the U.S. data center market are expected to double from 31 gigawatts (GW) in 2025 to 66 GW by 2027, largely driven by the swift growth of AI infrastructure.
This shift suggests that firms supplying the necessary energy and power infrastructure for the AI economy—like Bloom Energy (NYSE: BE) and Oneok (NYSE: OKE)—could be worth considering as investments. Here’s a closer look at why they might be good options.
Could AI make the first millionaire? Our research team recently uncovered a lesser-known company described as an “essential monopoly,” providing vital technologies for major players like Nvidia and Intel.
Bloom Energy
Bloom Energy focuses on solid oxide fuel cells that provide on-site power, increasingly crucial for data center developers who are grappling with shortages and delays in connecting to the grid.
The company aims to establish itself as a primary supplier of power for AI operations rather than merely serving as a backup. For instance, Oracle’s Project Jupiter, a large AI facility planned for New Mexico, intends to source up to 2.45 GW of power from Bloom Energy’s servers, replacing the initial plan for gas turbines and diesel generators.
Moreover, over half of Bloom Energy’s current backlog is tied to contracts with major AI cloud providers and colocation companies as of the end of the first fiscal quarter of 2026, ending March 31, 2026. The company also reported a backlog of approximately $20 billion at the close of fiscal year 2025.
Strong demand is starting to show in the financial output, with the company’s sales climbing 130.4% year-over-year to reach $751.1 million. Management anticipates full-year sales for 2026 to be between $3.4 billion and $3.8 billion.
However, Bloom Energy faces significant challenges tied to project timelines. Recently, shares dropped nearly 10% after reports surfaced of a pause in construction on the 1.8 million kW Crusoe Energy data center project, which includes Bloom Energy’s contributions. Hence, the company must demonstrate its ability to convert backlog into revenue efficiently.
Oneok
Oneok stands out as a key midstream energy company that handles the transport, processing, storage, and export of natural gas liquids, natural gas, refined products, and crude oil.
With rising demands for natural gas-fueled power linked to the growth of data centers, Oneok’s infrastructure is becoming increasingly vital. The company is currently in discussions with clients in Oklahoma and Texas and is evaluating over 40 accounts representing a potential natural gas demand exceeding 5 billion cubic feet daily. What began as expected minor pipeline connections is evolving into larger projects as major players seek more gas throughput and bigger pipelines.
But Oneok isn’t solely dependent on the AI boom. The rising overall demand for natural gas, spurred by industrial activities and liquefied natural gas (LNG) exports, also boosts its prospects. Approximately 65% of U.S. natural gas production includes recoverable natural gas liquids, supporting the company’s infrastructure.
Financially, Oneok maintains a solid position. In the first quarter of fiscal 2026, the company’s adjusted EBITDA hit nearly $2 billion, marking a 13% increase from the previous year. They expect adjusted EBITDA for the entire fiscal year to range between $8.0 billion and $8.5 billion.
Still, Oneok is not without its hurdles, including risks from product cycles, debt, and project delays. Nevertheless, its growing role in the AI economy makes it quite attractive.
Should You Consider Bloom Energy Stock Now?
If you’re contemplating buying into Bloom Energy, here are some points to weigh:
According to our analysts, we have highlighted ten stocks that our team feels are currently promising investments, and surprisingly, Bloom Energy isn’t among them. These selected stocks may offer substantial returns over the coming years.
When you look back at past recommendations, for instance, investing $1,000 in Netflix around December 2004 would now be worth about $433,268! Conversely, if you had invested in Nvidia back in April 2005, it could have grown to roughly $1,259,391!
It’s noteworthy that our Stock Advisor program has delivered an average return of 935%, significantly outperforming the S&P 500’s 207% return. Don’t miss our latest top 10 list; our community is built by retail investors, for retail investors.
