Business · Sherwood News
Bloom Energy spiked 15% in postmarket trading on Monday after expanding its pact to supply power to Oracle
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The hyperscaler has contracted an initial 1.2 gigawatts of fuel cell capacity from Bloom, with plans to procure up to 2.8 gigawatts to support the power needs of its data centers.
Key facts
- In concert with this announcement, a filing showed that Oracle received warrants to buy 3.53 million shares of Bloom Energy for $113.28 apiece on April 9, as part of an agreement reached
- Bloom Energy spiked 15% in postmarket trading on Monday after expanding its pact to supply power to Oracle
- The hyperscaler has contracted an initial 1.2 gigawatts of fuel cell capacity from Bloom, with plans to procure up to 2.8 gigawatts to support the power needs of its data centers
- Shares of Bloom boomed last July after the initial announcement that it would be delivering “onsite power for an entire data center within 90 days,” the first time the fuel cell company booked
Summary
Bloom Energy spiked 15% in postmarket trading on Monday after expanding its pact to supply power to Oracle. Shares of Bloom boomed last July after the initial announcement that it would be delivering “onsite power for an entire data center within 90 days,” the first time the fuel cell company booked a direct deal with a hyperscaler. Oracle execs are obviously pleased with the execution and the results — and have another reason to be happy about getting more power from Bloom. In concert with this announcement, a filing showed that Oracle received warrants to buy 3.53 million shares of Bloom Energy for $113.28 apiece on April 9, as part of an agreement reached between the two sides in October.