Oracle has expanded its partnership with Bloom Energy to procure up to 2.8 GW of fuel‑cell power for its AI data‑center buildout, building on an earlier 1.2 GW commitment. The expansion includes a warrant that gives Oracle exposure to Bloom’s upside.
The new capacity supports Oracle’s $50 B CapEx program for AI infrastructure, allowing the company to accelerate deployment of AI data centers and convert its backlog into revenue while providing a reliable, grid‑independent power source for AI workloads.
Bloom Energy’s fuel‑cell systems deliver high‑density, reliable power that can be deployed quickly—55 days versus the typical 90‑day schedule—and do not rely on the grid, addressing the growing energy demand of AI workloads.
The warrant issued to Oracle on April 9 2026 allows purchase of up to 3,531,073 shares of Bloom Energy’s Class A Common Stock at $113.28 per share, valued at approximately $400 million, aligning Oracle’s interests with Bloom’s growth.
Mahesh Thiagarajan, Executive Vice President of Oracle Cloud Infrastructure, said, "By rapidly deploying Bloom's reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States." He added, "Together, Bloom and Oracle Cloud Infrastructure are building the power foundation and AI infrastructure to accelerate American AI leadership." Aman Joshi, Chief Commercial Officer at Bloom Energy, said, "We are delighted to expand our relationship with Oracle following an initial successful deployment."
The announcement was well received by investors, reflecting confidence in the partnership’s ability to secure power for AI workloads and strengthen Oracle’s competitive position in the AI infrastructure market.
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