Bloom Energy Stock Hits 3-Year High On Power Supply Agreement With Oracle — Retail Speculates More Deals With AI Giants

The stock surged nearly 23% on Thursday, reaching its highest level since November 2021.

Bloom Energy (BE) stock saw a surge in retail chatter on Thursday after the company signed an agreement to supply power to Oracle's data centers.

The stock surged nearly 23% on Thursday, reaching its highest level since November 2021, after the company said it would deploy its fuel cell technology at select Oracle Cloud Infrastructure (OCI) data centers in the U.S., with first deployments expected within 90 days.

The deal comes days after the Silicon Valley giants Oracle and OpenAI said they have agreed to develop 4.5 gigawatts of additional Stargate data center capacity in the U.S.

“Customers expect to run their AI workloads and new AI applications at peak performance. Bloom's fuel cell technology will join OCI’s extensive energy portfolio, further supporting our cutting-edge AI infrastructure with reliable, clean power that can be quickly deployed and easily scaled,” said Mahesh Thiagarajan, Executive Vice President, Oracle Cloud Infrastructure.

Retail sentiment on Stocktwits about Bloom Energy was in the ‘extremely high’ territory, while retail message volume surged over 1400%.

“Some of those miniature nuclear reactors are certainly interesting and I have no doubt will play a role down the road, but it takes like 2 years to get one of those things up and running,” one user said after pointing out that it's much more cost-effective to deploy energy storage solutions compared to other options.

Another user wondered which tech giant might rope in the company.

Fueled by the power-hungry data centers, U.S. power demand is growing at the fastest pace since World War II. According to a report by Deloitte, power demand from AI data centers in the United States is expected to grow more than thirtyfold, reaching 123 gigawatts, up from 4 gigawatts in 2024.

Bloom Energy stock has more than doubled this year.

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