Oracle Issues Force Majeure Notice on New Mexico Stargate Data Center

Tran Capital Management's Midcap Equity Strategy highlighted Bloom Energy Corporation as a meaningful contributor to its second-quarter 2026 returns, citing the company's role in easing the power bottleneck constraining the AI buildout. In its investor letter, the firm said Bloom Energy's solid-oxide fuel cells deliver reliable on-site power in months rather than the years-long grid interconnection queues, and that the solution is now cost-competitive with gas generation. The letter pointed to a landmark agreement with Oracle for up to 2.8 gigawatts of fuel cell capacity, with an initial 1.2 gigawatts already contracted and deploying. Bloom Energy reported first-quarter 2026 revenue that more than doubled year-over-year and swung firmly to GAAP profitability, while management raised full-year guidance to roughly 80% growth at the midpoint. The Midcap Equity Strategy returned 16.9% net of fees in the second quarter, bringing year-to-date returns to 12.3%, compared with the Bloomberg U.S. Mid Cap Index's 11.1% quarterly gain and 12.1% year-to-date return. Bloom Energy closed at $275.19 per share on September 23, 2026, with a market capitalization of $81.05 billion and a 52-week range of $61.37 to $351.28.

UBS economist Jonathan Pingle said in a note on Thursday that the pickup in U.S. business investment and manufacturing is more dependent on the artificial intelligence boom than many investors realize. Pingle wrote that signs of broader growth have emerged this year, with the broadening theme most clearly visible in orders and shipments data, but much of that strength traces back to AI, describing the AI buildout as a rising tide lifting all boats. Traditional industrial firms are seeing more demand because of the AI buildout, with GE Vernova making gas turbines that power data centers and Caterpillar reporting strong generator sales, while demand has also spread to inputs such as steel, machinery, wiring and cable. UBS said this suggests the rest of the economy would be weaker without AI spending, and Pingle wrote that the expansion is more reliant on the AI and tech capex buildout than ever, with implications for growth, risks and monetary policy. He added that GDP growth, business investment and inventories are being broadly supported by the direct and indirect demand stemming from the AI buildout, calling the singular nature of the driving shock both unusual and exceptional at the moment.

Zacks Equity Research named Generac Holdings as its Bull of the Day and Build-A-Bear Workshop as its Bear of the Day, while also providing analysis on NVIDIA and Sandisk. Generac, a Zacks Rank #1 Strong Buy, reported second quarter adjusted earnings of $2.91 per share against a Zacks Consensus Estimate of $1.95, with revenue of $1.17 billion up 11%, and its Commercial & Industrial product sales jumped 29% to $556.5 million. The company's data center backlog has grown to about $1.6 billion after roughly $1 billion in new orders in 90 days, and on September 16 it disclosed a long-term supply agreement to provide backup generators for Amazon data centers with initial deliveries expected to total $2.4 billion across 2027 and 2028, alongside a warrant for up to 1.69 million shares at $200.93 per share. Build-A-Bear, a Zacks Rank #5 Strong Sell, posted second quarter earnings of 70 cents per share on revenue that dropped 7.2% to $115.3 million, missing the $122 million estimate, and cut its fiscal 2026 revenue forecast to $500 million to $525 million from $530 million to $550 million. The retailer also lowered pre-tax income guidance to $60 million to $68 million from $72 million to $78 million and slashed its Commercial segment outlook to roughly flat from growth of at least 20%.