FuelCell Energy (FCEL) Stock Rises 150% Amid Data Center Demand

FuelCell Energy (NASDAQ: FCEL) has experienced significant growth, rising more than 150% this year, largely driven by increasing data center demand. The company's sales pipeline grew 267% to 4 gigawatts in the second quarter. However, in the latest quarter, its revenue fell 5% year over year, and the backlog declined to approximately $1.1 billion. Meanwhile, Plug Power (NASDAQ: PLUG) has also shown stability, with a 30% rise in stock and a 22% revenue increase in the first quarter of 2026. This situation is important for investors as both companies represent potential opportunities in the growing hydrogen and fuel cell market.