Bloom Energy secures expanded contracts with Oracle and Brookfield as hydrogen fuel cells gain traction for AI data center power solutions.
Bloom Energy (NYSE: BE) shares have fallen nearly 40% from their late-June highs, reflecting investor skepticism about hydrogen fuel cells’ role in the energy sector. However, recent deals suggest growing adoption, particularly for powering AI data centers.
The company recently saw Brookfield quintuple its initial $5 billion order for Bloom’s power infrastructure. Oracle also more than doubled its power request from Bloom’s fuel cells, increasing from 1.2 gigawatts to 2.8 gigawatts. Competitors like PowerCell and FuelCell Energy have similarly secured contracts with data center operators and equipment makers.
These developments indicate hydrogen fuel cells are gaining mainstream acceptance as a viable energy solution for high-demand sectors like AI infrastructure.