BE Stock Jumps After NBIS Says Switch To Bloom ‘Significantly Enhanced’ New Jersey AI Data Center Project

Nebius is targeting 5 GW of contracted power by the end of 2026 and said its Bloom partnership could "unlock and expedite" additional sites.

• Nebius management said the "switch to Bloom" could significantly enhance the project from a community perspective while providing "reliable power quietly and ultra-low emissions."
• The Vineland project has faced permitting, zoning and community opposition over its proposed power infrastructure and potential environmental impacts.
• Nebius said Bloom fuel cells should be deployed quickly and that the power-source change is expected to have "no significant impact" on the project timeline.

Shares of Bloom Energy (BE) rallied in morning trade on Wednesday after Nebius (NBIS) management stated that the “switch to Bloom” enhanced its planned 300-megawatt AI data center in Vineland, New Jersey.

“I say generally that the switch to Bloom we think significantly enhances the project, including from a community perspective,” Tom Blackwell, the Chief Communications Officer (CCO) at Nebius, said during the company’s second quarter (Q2) earnings call.

“Bloom fuel cells deployment should be fast,” added Andrey Korolenko, the Chief Product and Infrastructure Officer at Nebius. “Overall, the switch to Bloom has been a variable and a good pivot for the project, with no significant impact expected on the project timeline.” 

BE stock rallied more than 10% in morning trade. However, on Stocktwits, retail sentiment around the shares remained in ‘bearish’ territory over the past day. 

Nebius Turns To Bloom For 300-MW Vineland AI Data Center

The comments from Nebius management come after the Vineland project has faced permitting, zoning and community opposition. The company is developing the 300-MW Vineland campus as part of its broader effort to expand AI computing capacity. 

The project has faced scrutiny over its proposed use of on-site gas generation, which would allow the facility to avoid waiting for a lengthy grid connection but has also raised concerns over emissions, water use, stormwater and other environmental impacts.

Nebius management said that Bloom’s technology would be "an on-site power solution delivering reliable power quietly and ultra-low emissions."

The company is currently seeking final approval for an amendment to the project’s previously approved site layout plan. The amendment followed the decision to switch the project’s power source to Bloom.

On the Nebius earnings call, management said the related public hearing was part of the normal development process and said it had been incorporated into the project schedule. Nebius also said construction of the building itself was completed earlier this summer, while engineering fit-out work is progressing.

Nebius Targets 5 GW Of Contracted Power By End Of 2026

Power availability has become a major constraint for AI data center developers, with new projects often facing lengthy waits for grid connections. 

Nebius stated it was looking beyond Vineland, with plans to raise its contracted power target to 5 gigawatts (GW) by the end of 2026, with most of that capacity expected to come online over the following two to three-and-a-half years.

Korolenko stated that the partnership with Bloom allows Nebius “to unlock and expedite a lot of our sites.”

NBIS stock rallied more than 20% in morning trade after second-quarter (Q2) earnings beat Wall Street’s expectations, and was among the top trending tickers on the platform. Retail sentiment around the Nvidia (NVDA)-backed neocloud improved to ‘extremely bullish’ from ‘bullish’ territory over the past day. 

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