S&P 500 Inclusion Drives Bloom Energy and Everpure Into the Large-Cap Benchmark

Bloom Energy and Everpure Gain S&P 500 Membership

Bloom Energy (BE) and Everpure (P) are moving into the S&P 500 as part of the index’s quarterly rebalancing, with the changes scheduled to take effect before trading begins on Sept. 21.

The announcement produced an immediate market reaction, particularly in Bloom Energy. BE shares climbed roughly 10% Tuesday after gaining in extended trading following Friday’s announcement. Everpure, which is being promoted from the S&P MidCap 400, traded modestly higher Tuesday after initially gaining following the announcement.

Key Points

• Bloom Energy and Everpure will join the S&P 500 before trading begins Sept. 21, creating required portfolio adjustments for funds that track the benchmark.
• Bloom Energy’s Q2 revenue jumped 166% year over year to a record $1.07 billion as its on-site power systems benefit from data-center electricity demand.
• Everpure’s Q2 revenue increased 37.7% to $1.19 billion, while remaining performance obligations rose 44% to more than $4.1 billion amid strong enterprise demand.

S&P 500 Inclusion Creates a New Source of Demand

The immediate catalyst for both stocks is the S&P 500 reshuffle.

Bloom Energy will replace Molson Coors Beverage (TAP), while Everpure will replace The Trade Desk (TTD). Everpure is moving up from the S&P MidCap 400.

Index changes matter because funds designed to track the S&P 500 must adjust their portfolios to reflect the new constituents. That creates mechanical demand for stocks entering the benchmark as those funds acquire shares ahead of the effective date.

The effect was particularly visible in BE stock. Bloom Energy rose about 10% Tuesday, substantially outperforming the broader market following the announcement.

Everpure’s reaction was more restrained. P shares initially advanced following the index announcement and traded modestly higher Tuesday.

The additions also come amid broader changes to S&P Dow Jones Indices’ benchmarks. Information technology and healthcare each gain a constituent in the latest S&P 500 reshuffle, while consumer staples and communication services each lose one.

Why Does Bloom Energy Stand Out in the Rebalance?

The index catalyst arrives during a period of rapid business growth for Bloom Energy.

The company produces solid oxide fuel-cell systems capable of providing on-site electricity to data centers and commercial and industrial customers. The supplied material identifies growing AI data-center electricity requirements and power bottlenecks as important drivers of demand.

Bloom’s systems can provide on-site electricity without requiring customers to wait for additional grid infrastructure. That capability has become increasingly relevant as utilities face growing electricity demand from data centers.

The company reported record Q2 revenue of $1.07 billion, an increase of 166% year over year and 42% sequentially. Product revenue also increased sharply, while management raised its 2026 revenue outlook to between $3.9 billion and $4.2 billion.

The operating growth provides a fundamental backdrop to Tuesday’s index-driven move. At the same time, the supplied material identifies China-linked supply-chain concerns, allegations surrounding scandium sourcing, tariffs and valuation as risks investors have been weighing.

The distinction is important: S&P 500 inclusion provides a new technical catalyst for BE stock, while the company’s underlying data-center power business remains a separate driver of its longer-term operating performance.

Everpure Combines Index Inclusion With Accelerating Enterprise Demand

Everpure enters the S&P 500 after eight consecutive quarters of accelerating revenue growth.

The company provides storage and data-management technology built around flash systems and a common software architecture. Its products serve traditional enterprise storage requirements as well as higher-performance workloads associated with AI.

Everpure reported Q2 revenue of $1.19 billion, up 37.7% year over year, while adjusted operating income increased 77% to $230 million. Remaining performance obligations, which represent contracted business that has not yet been recognized as revenue, increased 44% to more than $4.1 billion.

The company also raised its fiscal 2027 outlook. Revenue is now expected to reach $5.03 billion to $5.07 billion, compared with its previous forecast of $4.41 billion to $4.51 billion. Adjusted operating income is expected to reach $940 million to $960 million.

Everpure’s Storage-as-a-Service business provides another growth component. Evergreen//One has reached an annualized total contract value run rate above $1 billion.

AI and hyperscale infrastructure are also creating additional opportunities. Everpure recently secured a second top-five hyperscaler, with that agreement expected to ramp more meaningfully in fiscal 2028. The company expects its broader hyperscale business to begin contributing more significantly during the second half of fiscal 2027.

Near-term profitability reflects some deliberate trade-offs. Adjusted gross margin was 69.9%, while product gross margins are being managed near the low end of the company’s 65% to 70% range as Everpure prioritizes growth and market-share gains amid elevated component costs.

What It Means for Investors

Bloom Energy and Everpure are entering the S&P 500 with more than an index catalyst behind them.

Both companies are exposed to different parts of the infrastructure buildout associated with growing computing requirements. Bloom Energy addresses electricity availability through on-site fuel-cell systems, while Everpure provides the storage and data-management infrastructure needed for increasingly data-intensive workloads.

Their underlying growth profiles are also significant. Bloom’s quarterly revenue increased 166% year over year, while Everpure delivered 37.7% revenue growth and a 44% increase in remaining performance obligations.

S&P 500 inclusion adds another dimension because index-tracking funds must incorporate the stocks into their portfolios. That helps explain the immediate market reaction, but it is separate from the operating trends driving each business.

The difference in Tuesday’s price action reinforces that distinction. Bloom Energy responded with a roughly 10% advance, while Everpure’s reaction was considerably smaller despite both companies receiving the same broad index catalyst.

Once the Sept. 21 rebalance is completed, attention can return to the operating metrics already highlighted by the companies: Bloom’s revenue outlook and data-center power demand, and Everpure’s enterprise growth, margins, remaining performance obligations and developing hyperscale business.

Conclusion

Bloom Energy and Everpure’s promotion into the S&P 500 connects an important market-structure event with two companies benefiting from expanding infrastructure requirements.

For Bloom Energy, the index addition follows record quarterly revenue and rising demand for on-site power from data centers. For Everpure, it follows accelerating enterprise storage growth, a raised fiscal 2027 outlook and expanding AI and hyperscale opportunities.

The Sept. 21 effective date is the next immediate milestone. Beyond the index rebalance, the durability of each company’s growth will remain tied to its underlying business performance rather than S&P 500 membership alone.

FAQs

When will Bloom Energy and Everpure join the S&P 500?

Bloom Energy and Everpure will join the S&P 500 before trading begins on Sept. 21, 2026, as part of the index’s quarterly rebalancing.

Why did Bloom Energy stock rise after the announcement?

Bloom Energy stock rose roughly 10% Tuesday after news that the company will join the S&P 500, an event that requires index-tracking funds to adjust their portfolios to include the stock.

How fast is Bloom Energy growing?

Bloom Energy reported record Q2 revenue of $1.07 billion, up 166% year over year and 42% sequentially, and raised its 2026 revenue outlook to between $3.9 billion and $4.2 billion.

How fast is Everpure growing?

Everpure reported Q2 revenue of $1.19 billion, up 37.7% year over year, while adjusted operating income increased 77% to $230 million and remaining performance obligations increased 44% to more than $4.1 billion.

How are Bloom Energy and Everpure connected to AI infrastructure?

Bloom Energy provides on-site electricity systems that can serve data centers, while Everpure provides storage and data-management technology for enterprise and high-performance AI workloads.

This article was created with AI assistance and reviewed by an editor. For details, please refer to our Terms of Use.

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