Bloom Energy rises 12% after partnering with European AI infrastructure upstart in $2.6 billion deal
Bloom Energy's shares increased after announcing a partnership with Nebius, a European AI cloud provider. The deal, worth up to $2.6 billion, involves deploying Bloom's fuel-cell technology to enhance electricity generation at Nebius' data centers. This project aims to provide significant power capacity over a 10-year period, addressing key constraints in AI infrastructure.
- ▪Bloom Energy partnered with Nebius, an AI cloud provider, in a deal valued at up to $2.6 billion.
- ▪Nebius will utilize Bloom's fuel-cell technology to improve electricity generation at its data centers in Europe.
- ▪The project is set to provide about 250 megawatts of guaranteed power capacity over a 10-year term.
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Bloom Energy's shares were higher before the opening bell after it unveiled a partnership with Europe's Nebius, an AI cloud provider seeking to overcome power constraints in the AI infrastructure buildout. Nebius said Wednesday that it would deploy Bloom's fuel-cell technology to generate electricity faster and more quickly at its data centers in Europe. Nebius will pay Bloom up to $2.6 billion in service fees during the life of the agreement, subject to conditions, the company said in a SEC filing. The cloud company plans to buy electricity generated by Bloom's systems, while Bloom will install and manage the equipment.
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