Bloom Energy Stock: Buy, Sell, or Hold?
Energy helps keep global economies going, and demand for it will only go up from here. One growing sector of the economy that is expected to need more energy, according to a recent study from Goldman Sachs, involves the use of artificial intelligence (AI) applications and services such as OpenAI's ChatGPT. The study says demand for data center power is expected to grow 160% by 2030.
There are plenty of options for where that energy can come from. One source that could help meet the sizeable demand while also decarbonizing the economy is hydrogen. Some see hydrogen as the "new oil" because it burns cleaner and could help companies meet their long-term carbon reduction goals.
Bloom Energy (NYSE: BE) is developing technology for low-carbon and grid-independent power generation to position itself as a key player in meeting data center energy demands over the next decade. With the hydrogen energy industry projected to grow into an $11 trillion market, is now a good time to scoop up Bloom Energy?
Source Fool.com
