Bloom Energy Shares Leap to New Record High Following Major Oracle Data Center Power Deal

Bloom Energy Shares Surge 24% After Signing Agreement with Oracle

On Tuesday, 14 April, shares of Bloom Energy, a leading provider of on-site power solutions, reached a fresh record high of $218.68 apiece on the New York Stock Exchange (NYSE), marking a 24% increase in the company's stock value. This significant surge comes after Bloom Energy announced an agreement to supply energy for Oracle's data centre buildout, expanding their existing partnership.

As part of the agreement, Bloom Energy will provide up to 2.8 gigawatts of fuel cell energy systems for Oracle, with an initial contract for 1.2 gigawatts of capacity. To put this figure into perspective, a gigawatt is enough electricity to power approximately 750,000 US households at any given time. The energy supply from Bloom Energy will support Oracle's artificial intelligence and cloud computing infrastructure.

Oracle has embarked on a massive construction program to build an AI data centre for clients such as OpenAI and xAI, with a projected spend of $50 billion on capital projects in the fiscal year ending May. The push into providing cloud services for AI companies has generated significant revenue for Oracle, with its infrastructure business generating $4.9 billion in the quarter ended February.

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In the third quarter of fiscal 2026, Oracle revised its revenue forecast higher for fiscal year 2027 to $90 billion, easing concerns over its heavy spending on artificial intelligence infrastructure. This move is a testament to the company's commitment to capitalizing on the artificial intelligence boom, which has rapidly built out data centres equipped with advanced processors.

Bloom Energy's technology, which relies on modular fuel cells, enables faster scaling of data centres compared to gas turbines, which can take months or even years to deploy due to supply chain constraints. The company has already made significant inroads in the industry, with other large companies such as Intel, Conagra, FedEx, and Caltech leveraging their technology.

The partnership between Bloom Energy and Oracle has contributed to the company's sharp revenue growth, with revenue rising 37.3% in the fourth quarter to over $2.02 billion. As a result, Bloom Energy's stock has more than doubled in value this year, with today's jump marking its biggest monthly surge since September 2025. The rally has also contributed to a sharp 148% rise in 2026 so far, even after the stock delivered a massive 291% return in 2025.

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Note: The revenue growth and revenue figures for Oracle are not directly comparable to those of Bloom Energy, as they represent different periods and industries.