• Nebius said power from Bloom is expected to come online in three phases, each with a 10-year supply term.
• Bloom is expected to provide a guaranteed capacity of about 250 megawatts and system installed capacity of approximately 328 megawatts.
• Bloom’s deal with Nebius comes on the heels of a landmark 2.8 gigawatt expanded deal with Oracle.

Shares of Bloom Energy (BE) surged on Wednesday after the company was chosen by AI-focused neocloud company Nebius Group N.V. (NBIS) to install, operate, and maintain fuel cell power systems under a $2.6 billion agreement.

At the time of writing, BE stock was up more than 11%, while NBIS was trading just over 1%.

BE’s Power Supply Agreement With NBIS

Nebius disclosed that power from Bloom is expected to come online in three phases, each with a 10-year supply term, according to the company’s filing with the U.S. Securities and Exchange Commission (SEC).

As per the agreement, Bloom is expected to provide a guaranteed capacity of about 250 megawatts (MW) and system installed capacity of approximately 328MW.

The power agreement comes as energy consumption continues to peak, driven largely by AI data center demand, forcing hyperscalers and companies to seek alternative electricity sources to expand compute capacity and reduce greenhouse gas emissions.

According to Bloom’s website, its proprietary solid oxide technology converts natural gas, biogas, or hydrogen into electricity without combustion, resulting in low or no CO2 emissions.

Bloom’s deal with Nebius comes on the heels of a landmark 2.8 gigawatt expanded deal with Oracle to support the cloud company’s AI infrastructure buildout. Lat year, Bloom delivered a fully operational fuel cell system to Oracle in 55 days, ahead of schedule by over a month.

What Retail Thinks About BE, NBIS

On Stocktwits, retail sentiment about BE and NBIS was ‘bullish’ over the last 24 hours, with many users noting the power supply agreement.

One user on the platform called Bloom an “energy juggernaut.”

Another user expects the BE stock to hit $290 in the current trading session.

BE stock has more than tripled in value so far this year, while NBIS has more than doubled. Over the past 12 months, BE has risen 14-fold, while NBIS has seen a fivefold increase, outperforming the S&P 500.

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