Bloom Energy (NYSE:BE) shares are up, up 20.88%, on Tuesday as the company expanded its partnership with Oracle Corp (NYSE:ORCL) to deploy up to 2.8 gigawatts of fuel cell systems, enhancing support for AI infrastructure.
• Bloom Energy shares are testing new highs. Why are BE shares at highs?
This news comes as the broader market is experiencing gains, with the S&P 500 up 0.7%, adding to the positive sentiment around energy solutions in tech.
On Monday, Bloom Energy announced an expanded partnership with Oracle to support the buildout of its AI and cloud computing infrastructure. Bloom Energy designs, manufactures, sells, and installs solid oxide fuel cell systems for on-site power generation.
Oracle plans to procure up to 2.8 gigawatts of Bloom Energy’s fuel cell systems under a master services agreement. An initial 1.2 gigawatts of capacity has already been contracted. Deployment is underway and is expected to continue into next year.
“We are delighted to expand our relationship with Oracle following an initial successful deployment,” said Aman Joshi, chief commercial officer at Bloom Energy.
“Together, we are defining a shared vision for the future of energy and AI infrastructure, with Bloom advancing its position as the standard for onsite power.”
The broader market is seeing gains, with the Industrials sector up 0.63% today. Bloom Energy’s strong performance stands out, reflecting its specific advancements in energy technology, while the overall market trends …
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