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The Economic Times

Debaroti Adhikary

MTAR Tech shares crash 9% after 280% rally in a year. What’s spooking investors today?

Mtar Tech MTAR Bloom Energy MTAR Technologies United States Electricity

Shares of MTAR Technologies plunged about 9% on Thursday after its US-based client, Bloom Energy, saw its stock tumble 10% overnight. Investor sentiment was hit after a key data centre project linked to Bloom Energy was abruptly put on hold.

According to a Bloomberg report, Crusoe Energy Systems LLC, which develops data centres for companies such as OpenAI and Microsoft, has paused work on a planned 1.8-gigawatt data centre campus in Cheyenne, Wyoming. The project was expected to be powered by 900 MW of Bloom Energy fuel cells along with grid electricity.

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