Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The ADDs/DELs for SP 500, SP MidCap400, and SP SmallCap600 indices for the September 2026 index rebal event were announced after market close on Friday 4 September 2026.</li>
<li>There are 3 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.</li>
<li>In this insight, we take a look at our final flow expectations for each of these confirmed index changes. </li>
</ul>


The ADDs/DELs for SP 500, SP MidCap400, and SP SmallCap600 indices for the September 2026 index rebal event were announced after market close on Friday 4 September 2026.
There are 3 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.
In this insight, we take a look at our final flow expectations for each of these confirmed index changes. 


Quiddity SP 500 Sep26 Results: Over US$31bn One Way Flow

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Bloom Energy Corporation reported significant acceleration in its business during the second quarter of 2026, marked by its first quarterly revenue exceeding $1 billion and an overall revenue increase of 166% year-over-year and 42% sequentially.</li><li>The company highlighted that this rapid growth follows a strong trajectory where it doubled its revenue in three years and now anticipates doubling that figure again within one year.</li><li>The growth is largely driven by increased demand from AI data centers, commercial, and industrial customers, including hyperscalers, neoclouds, and colocation data center operators, who have validated and approved Bloom Energy’s on-site power solutions.</li></ul>

Bloom Energy Corporation reported significant acceleration in its business during the second quarter of 2026, marked by its first quarterly revenue exceeding $1 billion and an overall revenue increase of 166% year-over-year and 42% sequentially.The company highlighted that this rapid growth follows a strong trajectory where it doubled its revenue in three years and now anticipates doubling that figure again within one year.The growth is largely driven by increased demand from AI data centers, commercial, and industrial customers, including hyperscalers, neoclouds, and colocation data center operators, who have validated and approved Bloom Energy’s on-site power solutions.

Bloom Energy Expands Gross Margin By 600 Basis Points — Can It Last?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Bloom Energy is strategically positioned to capitalize on the surging power demand from AI-driven data centers, a key driver of its significant revenue growth and substantial project backlog.</li>
  <li>The company's core solid-oxide fuel cell (SOFC) technology offers a differentiated value proposition, providing reliable, on-site power with rapid deployment timelines compared to traditional grid connections.</li>
  <li>Despite strong growth prospects, the company faces considerable risks related to its high valuation, historical unprofitability, execution on its large-scale projects, and competitive pressures in the evolving clean energy landscape.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Bloom Energy is strategically positioned to capitalize on the surging power demand from AI-driven data centers, a key driver of its significant revenue growth and substantial project backlog.
  The company's core solid-oxide fuel cell (SOFC) technology offers a differentiated value proposition, providing reliable, on-site power with rapid deployment timelines compared to traditional grid connections.
  Despite strong growth prospects, the company faces considerable risks related to its high valuation, historical unprofitability, execution on its large-scale projects, and competitive pressures in the evolving clean energy landscape.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Bloom Energy Corp (BE US) - Jul 2026

<ul><li>Bloom Energy has become one of Wall Street’s most polarizing AI infrastructure trades.</li><li>The stock is up sharply this year, suffered a brutal 28% one-day selloff around a Russell-index shuffle, and then roared back as investors refocused on the company’s role in powering AI data centers.</li><li>The latest catalyst is the expanded Brookfield Asset Management partnership, which increased the financing framework for AI infrastructure power projects from $5 billion to $25 billion.</li></ul>

Bloom Energy has become one of Wall Street’s most polarizing AI infrastructure trades.The stock is up sharply this year, suffered a brutal 28% one-day selloff around a Russell-index shuffle, and then roared back as investors refocused on the company’s role in powering AI data centers.The latest catalyst is the expanded Brookfield Asset Management partnership, which increased the financing framework for AI infrastructure power projects from $5 billion to $25 billion.

Bloom Energy Crashed 28% In One Day — Is This AI Power Stock The Next Nvidia Or The Next Trap?

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Bloom Energy's share price surged over 1,100% as multi-billion-dollar agreements with Brookfield, Oracle, and American Electric Power validated its role in powering AI infrastructure.</li>
<li>Despite trading at elevated valuations, Bloom's USD 20+ billion backlog, rapid revenue growth, and improving profitability suggest the underlying business momentum remains strong.</li>
<li>Bloom's ability to deliver power faster than utilities and gas turbines could sustain growth, but future returns will depend on execution rather than narrative.</li>
</ul>


Bloom Energy's share price surged over 1,100% as multi-billion-dollar agreements with Brookfield, Oracle, and American Electric Power validated its role in powering AI infrastructure.
Despite trading at elevated valuations, Bloom's USD 20+ billion backlog, rapid revenue growth, and improving profitability suggest the underlying business momentum remains strong.
Bloom's ability to deliver power faster than utilities and gas turbines could sustain growth, but future returns will depend on execution rather than narrative.


Bloom Energy: Can the Fundamentals Catch Up?

United States

Bloom Energy Corporation manufactures power generation equipment. The Company offers on-site power generation systems that utilizes fuel cell technology to generate electricity. Bloom Energy serves banking, health care, data centers, media and communication, food and beverage, logistics, technology, and utilities industries in the United States.

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Bloom Energy Corp (BE US)

Quiddity SP 500 Sep26 Results: Over US$31bn One Way Flow

Three ADDs and three DELs for the SP 500 in Sep 2026, driving over ~US$31bn of one-way flow across the SP 500, the Select Sector indices and the SP...

Anjana Amarasuriya

Bloom Energy Expands Gross Margin By 600 Basis Points — Can It Last?

Bloom Energy Corporation reported significant acceleration in its business during the second quarter of 2026, marked by its first quarterly...

Baptista Research

Primer: Bloom Energy Corp (BE US) - Jul 2026

Bloom Energy is strategically positioned to capitalize on the surging power demand from AI-driven data centers, a key driver of its significant...

αSK Primers

Bloom Energy Crashed 28% In One Day — Is This AI Power Stock The Next Nvidia Or The Next Trap?

Bloom Energy has become one of Wall Street’s most polarizing AI infrastructure trades. The stock is up sharply this year, suffered a brutal 28%...

Baptista Research

Bloom Energy: Can the Fundamentals Catch Up?

Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...

Mint Finance

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity SP 500 Sep26 Results: Over US$31bn One Way Flow

Three ADDs and three DELs for the SP 500 in Sep 2026, driving over ~US$31bn of one-way flow across the SP 500, the Select Sector indices and the SP...

Anjana Amarasuriya

Bloom Energy Expands Gross Margin By 600 Basis Points — Can It Last?

Bloom Energy Corporation reported significant acceleration in its business during the second quarter of 2026, marked by its first quarterly...

Baptista Research

Primer: Bloom Energy Corp (BE US) - Jul 2026

Bloom Energy is strategically positioned to capitalize on the surging power demand from AI-driven data centers, a key driver of its significant...

αSK Primers

Bloom Energy Crashed 28% In One Day — Is This AI Power Stock The Next Nvidia Or The Next Trap?

Bloom Energy has become one of Wall Street’s most polarizing AI infrastructure trades. The stock is up sharply this year, suffered a brutal 28%...

Baptista Research

Bloom Energy: Can the Fundamentals Catch Up?

​Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...

Mint Finance

Bloom Energy's stock soars on major deals with tech giants and utilities, backed by strong financials and growth potential, but success hinges on...