Shares of fuel cell energy services provider Bloom Energy (BE) climbed 24% on April 14 following an announcement that cloud infrastructure major Oracle (ORCL) has extended its partnership with the company. As part of the agreement, Oracle will secure 2.8 gigawatts (GW) of Bloom's fuel cell systems to assist in its AI infrastructure buildout.
Commenting on the development, Executive Vice President of Oracle Cloud Infrastructure Mahesh Thiagarajan said, “By rapidly deploying Bloom's reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States.” Weighing in, Bloom Chief Commercial Officer Aman Joshi remarked, "Together, we are defining a shared vision for the future of energy and AI infrastructure, with Bloom advancing its position as the standard for onsite power."
