Bloom Energy shares surge on New Jersey AI data center deal

Bloom Energy has experienced a significant stock surge in 2026, driven by its role in powering artificial intelligence infrastructure. The company’s shares rose following the announcement that Nebius Group will utilize Bloom’s fuel-cell technology for a planned 300-megawatt AI data center in Vineland, New Jersey.

Nebius Group, which is backed by Nvidia, selected the fuel cells to provide behind-the-meter power. This decision aims to address local community and environmental concerns regarding permitting and impact, as Bloom’s technology offers a low-emission, on-site energy solution. The deployment is expected to be rapid, helping to bypass the lengthy timelines often required for traditional grid connections.

Bloom Energy reported strong financial performance, with second-quarter revenue exceeding $1 billion for the first time, representing a 165.5% year-over-year increase. The company’s “time-to-power” advantage—the ability to deploy systems in 90 days or less—is increasingly valuable to data center operators facing grid connection backlogs. Management has raised its full-year 2026 revenue guidance, with total revenue expected to reach between $3.9 billion and $4.2 billion.