Former House Speaker Nancy Pelosi disclosed last month that her husband, Paul Pelosi, purchased between $3 million and $12 million worth of shares and call options in Bloom Energy through household accounts.

The transactions occurred on July 24 and July 28, according to a periodic transaction report she signed on August 21. On July 24, the accounts bought 10,000 shares valued between $1 million and $5 million, plus 100 call options in the same range. Four days later, they added 5,000 shares worth $500,000 to $1 million and another 100 call options in that range.

Bloom Energy, based in San Jose, California, produces solid-oxide fuel cell systems that generate on-site power for data centers and other facilities. The company has positioned its technology as a solution for the rapid power demands of artificial intelligence infrastructure, where traditional grid connections can take years.

The second purchase came on the same day Bloom Energy reported second-quarter revenue of $1.07 billion, a 165.5% increase year-over-year that exceeded estimates. Shares rose more than 26% by the end of July 30 following the results.

On September 4, S&P Dow Jones Indices announced that Bloom Energy would join the S&P 500 later in the month. The stock climbed nearly 40% over the subsequent five trading days and traded around $282.50 as of early September.

Pelosi's office has stated that she does not own any stocks and has no knowledge of or involvement in the transactions made by her husband. Congressional disclosure rules require members to report trades by spouses within 45 days.

The timing of the purchases and subsequent market moves has drawn attention to the household's trading activity in companies tied to AI infrastructure.