I got this as one of those "bag baby" plants at Lowes last year. The plant seemed healthy when I got it, and has continued growing well for me, even in a very wet summer last year.
I saw this growth starting a few weeks ago, thought it was another pseudobulb/growth coming along. Now it is clearly cylindrical and elongated - looks like I have a spike coming along! This is the first spike for me on this plant: