Key Highlights
- Bloom Energy shares climbed approximately 15% in after-hours trading Monday following Oracle’s expansion of their fuel cell partnership to 1.2 gigawatts of contracted capacity.
- A warrant issued to Oracle on Thursday allows the tech giant to purchase up to 3.53 million Bloom shares at $113.28 per share — representing a $400 million position that has gained over $300 million within days.
- The expanded partnership positions the companies to deploy up to 2.8 gigawatts of Bloom fuel cell systems across Oracle data centers nationwide.
- Oracle shares experienced a powerful session as well, advancing nearly 13% during standard market hours amid a broader recovery in software equities.
- Bloom’s valuation has surpassed $50 billion, with shares more than doubling year-to-date through Monday’s market close.
Bloom Energy experienced a gain of approximately 6% during Monday’s regular session, followed by an additional 15% surge in extended trading. The momentum came from Oracle’s decision to broaden their energy supply arrangement.
Oracle has locked in 1.2 gigawatts of capacity through Bloom’s fuel cell platform, with installations currently in progress and scheduled to continue through 2027. The complete framework provides Oracle with flexibility to expand operations up to 2.8 gigawatts in total.
The partnership between these two corporations began in July, when Bloom announced plans to supply power to Oracle’s U.S. data centers within a 90-day window. During that inaugural project, Bloom exceeded expectations by completing delivery in only 55 days.
Mahesh Thiagarajan, executive vice president for Oracle Cloud Infrastructure, commented: “By rapidly deploying Bloom’s reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States.”
Oracle’s Warrant Shows Substantial Gains
Merely four days before this partnership expansion became public, Oracle obtained a warrant allowing acquisition of up to 3.53 million Bloom shares at $113.28 apiece — a $400 million total commitment. Following Bloom’s stock advance to nearly $203 after the announcement, that warrant carries an unrealized profit exceeding $316 million.
Oracle has until October 9 to activate the warrant.
The sequence of events is notable. Oracle secured the warrant through an agreement initially disclosed in October, and within days the partnership grew larger — pushing its theoretical returns significantly higher.
Bloom Capitalizes on Data Center Energy Demand
Bloom’s fuel cell technology appeals to data center operators because it produces electricity on-site without requiring grid infrastructure — enabling significantly faster deployment schedules compared to conventional power alternatives.
The company has been establishing fuel cell capacity arrangements with an expanding roster of partners. This portfolio encompasses utilities such as American Electric Power and data center operators including Equinix and Brookfield Asset Management, alongside Oracle.
Bloom’s equity has emerged as one of the market’s top performers. Shares nearly quadrupled throughout 2025 and had already doubled year-to-date before Monday’s session. The company’s valuation has climbed beyond $50 billion.
Oracle experienced positive momentum independent of the Bloom announcement. Its shares advanced nearly 13% during regular trading as market participants acquired software stocks that had faced pressure from AI-related uncertainties. Oracle’s equity remains down roughly 20% for the year, even accounting for Monday’s advance.
Oracle has secured more than $100 billion in debt financing to support its AI data center expansion. Bloom’s fuel cell systems represent a component of that comprehensive infrastructure initiative, with installations planned for Oracle locations throughout the United States.
Through Monday’s closing bell, Bloom had already secured hundreds of megawatts of fuel cell capacity through various partnerships, with Oracle representing one of its most significant commitments.
