Bloom Energy Stock Jumps On Deal To Power Oracle's AI Data Centers

Shares of Bloom Energy Corp BE are surging Thursday morning after the company announced a collaboration with Oracle Corp ORCL. Bloom will deploy its proprietary fuel cell technology to provide onsite power for select Oracle Cloud Infrastructure data centers across the U.S.

This agreement adds Oracle to a list of Bloom’s key digital infrastructure clients, including Equinix and Quanta Computing. The company has meanwhile deployed over 400 megawatts to power data centers globally.

What To Know: The move is designed to support the growing demand for Oracle’s AI and cloud computing services. A key feature of the agreement is Bloom’s commitment to deliver a highly reliable and cost-efficient power solution for an entire data center within an accelerated 90-day timeframe, addressing the urgent power needs of the burgeoning AI sector.

Mahesh Thiagarajan, an OCI Executive Vice President, stated that Bloom’s technology will “join OCI’s extensive energy portfolio, further supporting our cutting-edge AI infrastructure with reliable, clean power.”

Benzinga Edge Rankings: According to data from Benzinga Edge, which provides scores to help identify strong investment opportunities, Bloom Energy shows exceptional strength in two key areas. The company earns a very high Growth score of 99.16 and a strong Momentum score of 89.61.

This combination suggests the company has robust potential for expansion and has been performing well in the market recently. Conversely, its Value score is notably low at 11.47, indicating that the stock may be considered expensive relative to its fundamental metrics at its current price.

Price Action: According to data from Benzinga Pro, BE shares are trading higher by 24.2% to $33.39 Thursday morning. The stock has a 52-week high of $33.21 and a 52-week low of $9.02.

Read Also: What’s Going On With Plug Power Stock?

How To Buy BE Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Bloom Energy’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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