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Bloom Energy to Supply up to 2.8 GW of Fuel Cells Under Expanded Oracle Deal
The expanded agreement includes an initial 1.2 gigawatts already contracted as Oracle boosts power for AI and cloud infrastructure.
- On Monday, Bloom Energy Corp announced an expanded agreement to supply Oracle Corp with up to 2.8 gigawatts of fuel cell capacity for artificial intelligence and cloud computing infrastructure.
- Oracle previously contracted an initial 1.2 gigawatts of capacity from Bloom to power United States projects, with deployment currently underway and expected to continue into next year.
- Bloom delivered a fully operational fuel-cell system in 55 days, beating the anticipated 90-day schedule. "We are quickly meeting the demands of our customers," said Mahesh Thiagarajan, executive vice president, Oracle Cloud Infrastructure.
- Oracle received a warrant to purchase up to 3.53 million shares of Bloom at $113.28 each, valued at $400 million, while Bloom shares jumped about 14% in extended trading to nearly $203.
- Power constraints often limit data center growth, prompting Oracle to invest heavily in artificial intelligence infrastructure. "AI infrastructure must be built like a factory," Bloom CEO Sridhar said, emphasizing the need for reliable onsite power.
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Why Bloom Energy Stock Surged Today
Key PointsOracle plans to purchase up to 2.8 gigawatts of Bloom's fuel cell systems.The cloud titan's warrant is appreciating rapidly.10 stocks we like better than Bloom Energy › Shares of Bloom Energy (NYSE: BE) leaped on Tuesday after the fuel cell maker expanded its artificial intelligence (AI) infrastructure partnership with Oracle (NYSE: ORCL). Image source: Getty Images.Will AI create the world's first trillionaire? Our team just released …
Bloom Energy shares surge over 20% to record high after securing major Oracle data centre power deal
Bloom Energy's shares rose 24% to a record $218.68 after signing a deal to supply 2.8 gigawatts of fuel cell energy systems for Oracle's data centre. The partnership supports Oracle's AI infrastructure amid rising demand for cloud computing.
Bloom Energy Jumps 14%, Oracle Rises 7% as Fuel Cell Deal Fuels AI Data Center Power Race
The post Bloom Energy Jumps 14%, Oracle Rises 7% as Fuel Cell Deal Fuels AI Data Center Power Race appeared first on 24/7 Wall St.. Quick Read Bloom Energy (BE) and Oracle (ORCL) shares zoomed higher on an expanded 2.8-gigawatt fuel cell partnership for AI data centers. Bloom Energy’s partnership with Oracle adds a major anchor customer to an already-robust $20B backlog. Oracle’s 2.8-GW fuel cell commitment signals a strategic response to su…
Oracle Strikes 2.8-Gigawatt AI Energy Deal to Power Data Centres After Firing 30,000 Workers Via 6 AM Email
Oracle has secured a deal to purchase up to 2.8 gigawatts of fuel-cell power from Bloom Energy to run artificial intelligence data centres, just two weeks after firing up to 30,000 workers via early morning email to fund the very infrastructure now being powered. The enterprise software company announced on Monday that an initial 1.2 gigawatts of capacity has already been contracted, with deployment underway across Oracle projects in the United …
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