Bloom Energy (NYSE: BE) shares continued an astounding move higher today. Shares of the fuel cell maker have soared 80% over the last month. Another leg higher today has been powered by an announcement on Monday for a significant new partnership deal.

Bloom stock jumped another 10% this morning. As of 11:30 a.m. ET, it pared some of that gain, but remained higher by 4.5%.

Bloom Energy is the new AI darling

Bloom Energy shares started to rise when it first announced a collaboration with tech giant Oracle in late July. That's when many investors realized Bloom could already have a practical and sensible answer to the growing power needs from artificial intelligence (AI) data center compute power.

While many speculative nuclear power plays have caught Wall Street's attention in recent months, Bloom's fuel cell technology is already available for on-site power supply. That realization has sent Bloom Energy stock rocketing 380% higher since mid-July.

The latest partnership announced this week will place Bloom as the preferred power supplier for an AI factory buildout planned by global alternative asset manager Brookfield Asset Management. The $5 billion agreement places Bloom at the heart of the AI boom.

More agreements may be set to come, too. Investors should be wary, though, of just how fast Bloom's valuation grows. It now has a $28 billion market cap, and these AI factories will take months, if not years, to build. Bloom stock will likely take a breather at some point soon.

Should you buy stock in Bloom Energy right now?

Before you buy stock in Bloom Energy, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Bloom Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,428!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,103,559!*

Now, it's worth noting Stock Advisor's total average return is 1,060% -- a market-crushing outperformance compared to 189% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.