May. 20 at 10:08 PM
Bloom Energy surged 8.2% in after-hours trading after announcing a
$2.6B Fuel Cell Capacity Framework Agreement with AI infrastructure provider Nebius Group.
Under the deal, Bloom will install, operate, and maintain large-scale fuel cell systems to power Nebius’ expanding AI data center network. Nebius will purchase the energy output, with delivery structured in three phases over 10-year supply periods, totaling about 328 MW of installed capacity.
The agreement comes shortly after Bloom’s expanded deal with Oracle targeting up to 2.8 GW of fuel cell capacity. It also follows strong Q1 2026 results, where revenue jumped 130.4% year-over-year to
$751.1M and adjusted EPS came in at
$0.44 versus
$0.12 expected. Management also raised its FY2026 revenue midpoint guidance to
$3.6B from
$3.2B.
Analyst sentiment has improved, with firms such as Barclays, BTIG, and Evercore ISI raising price targets. Baird recently lifted its target to
$260 from
$242 while maintaining an Outperform rating.
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