U.S. Congresswoman Nancy Pelosi's periodic transaction report submitted to the House Clerk shows that her family account first purchased shares and call options of fuel cell company Bloom Energy in late July, and increased holdings in Intel.

The disclosure was signed by her on August 21, with the transactions executed through her husband Paul Pelosi's account. For Bloom Energy, two transactions: on July 24, 10,000 shares of Class A common stock and 100 call options expiring in June 2027 with a strike price of $100 were purchased; a few days later, approximately 5,000 additional shares and 100 options under the same conditions were bought, totaling about 15,000 shares and 200 contracts. The congressional disclosure only provides a range, totaling approximately several million to over ten million dollars. The same report also lists 10,000 shares of Intel and 50 call options expiring in June 2027 with a strike price of $50, in addition to existing positions. Bloom Energy is a solid oxide fuel cell company based in San Jose, providing on-site power to data centers; its second-quarter revenue surpassed $1 billion for the first time, a year-on-year increase of about 166%, and the full-year guidance was raised to $3.9 billion to $4.2 billion. The company has a collaboration with Oracle of up to approximately 2.8 gigawatts and has been supplying power to Intel's Santa Clara data center since 2014. The stock price has significantly risen this year and saw a short-term increase after the disclosure. There were also investment entries related to hotel properties in San Francisco during the same period. The delay in disclosing the transactions by the congresswoman does not constitute investment advice.

The initial appearance in Bloom Energy indicates an expansion of positions from chip options to power supply for data centers. The strike price of the call options is far below the stock price at the time of disclosure, indicating leverage pointing to mid-2027. Intel and Bloom Energy have a customer relationship in power supply, with both transactions included in the same report.

Mechanically, this is a disclosure of the congresswoman's family holdings, not a funding bill. Buyers are retail and thematic funds tracking "Pelosi trades," while sellers are shareholders who have already accounted for data center power bottlenecks. Funds are flowing into fuel cells and reverse trades in the short term. Beneficiaries are Bloom Energy's liquidity and attention, while traditional utility narratives that view grid expansion as the only solution are under pressure. On-site power sales are hindered by slow grid connection queues, while options are sold based on anticipated power shortages in 2027. The disclosure was about a month late, and the buying point has passed the earnings report and guidance adjustment window.

In supplementary terms, the congressional range disclosure cannot restore precise costs; 200 options correspond to a maximum of 20,000 underlying shares based on standard contracts.

Source: Public Information