Nebius Group N.V. (NBIS) recently released its quarterly results, and management had some encouraging things to say about Bloom Energy Corporation (BE). During the Q2 earnings call, Chief Communications Officer Tom Blackwell said switching to Bloom's fuel-cell technology would significantly enhance the company's planned 300-megawatt AI data center in Vineland, New Jersey, particularly from a community perspective. Chief Product and Infrastructure Officer Andrey Korolenko added that Bloom's fuel cells should be deployed quickly, with no significant impact expected on the project timeline.
Investors liked what they heard, sending BE stock 12.3% higher on Wednesday, Aug. 12. Elon Musk Said Tesla Short Sellers Would Be 'Obliterated' Even Bill Gates — Yet They've Made $9 Billion This Year Shorting the Stock Sergey Brin Wants Google to Double Down on Gemini. What That Means for GOOGL Stock.
Stocks Close Lower on Worries About US Economy Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. The endorsement comes at an important time for the project, which has faced permitting, zoning and community opposition over its earlier plans for onsite gas generation.
Nebius now sees Bloom as a quieter, reliable, ultra-low-emission power solution, while the company seeks final approval for an amended site plan following the switch. This could be crucial for BE stock. Bloom Energy's shares surged as the AI data center boom fueled demand for its power solutions.
Now, Nebius' endorsement adds another positive signal for BE stock. But can this latest vote of confidence help support the shares after such a huge run? Power is quickly becoming one of the biggest bottlenecks in the AI boom, and that is exactly where Bloom Energy wants to play.
Founded in 2001 and based in San Jose, California, Bloom makes solid oxide fuel cell (SOFC) systems that let businesses generate electricity where it's needed most. Its customers range from data centers and semiconductor makers to utilities, hospitals, college campuses and retailers. Bloom also makes solid oxide electrolyzers used to produce hydrogen.
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