Bloom Energy (BE) Stock Jumps 15% After Oracle Expands Energy Deal

TLDR

• Bloom Energy stock surged roughly 15% after hours Monday after Oracle expanded its fuel cell deal to 1.2 gigawatts of contracted capacity.
• Oracle was issued a warrant on Thursday to buy up to 3.53 million Bloom shares at $113.28 each — a $400 million investment now up over $300 million in days.
• The two companies now plan a total of up to 2.8 gigawatts of Bloom fuel cell systems for Oracle data centers across the U.S.
• Oracle stock also had a strong day, climbing nearly 13% during regular trading as software names bounced back.
• Bloom’s market cap has topped $50 billion, with the stock up more than 100% year-to-date as of Monday’s close.

Bloom Energy’s stock jumped about 6% during regular trading on Monday, then tacked on another 15% in after-hours trading. The catalyst was an expanded energy supply deal with Oracle.

Bloom Energy Corporation, BE

Oracle has committed to 1.2 gigawatts of capacity from Bloom’s fuel cell systems, with deployment already underway and expected to continue through 2027. The full agreement gives Oracle the option to scale up to 2.8 gigawatts total.

The two companies have been working together since July, when Bloom said it would deliver power to U.S. Oracle data centers within 90 days. In that initial project, Bloom completed delivery in just 55 days — ahead of schedule.

Mahesh Thiagarajan, executive vice president for Oracle Cloud Infrastructure, said in a statement: “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 Is Already Deep in the Money

Just four days before the deal expansion was announced, Oracle received a warrant to purchase up to 3.53 million Bloom shares at $113.28 each — totalling $400 million. With Bloom’s stock climbing to nearly $203 after the announcement, that warrant is already sitting on a paper gain of over $316 million.

Oracle has until October 9 to exercise the warrant.

The timing is striking. Oracle picked up the warrant as part of an agreement originally announced in October, and days later the deal got bigger — and its paper return jumped with it.

Bloom Rides the Data Center Power Wave

Bloom’s fuel cells are attractive to data center operators because they generate power on-site and don’t require a grid connection — meaning faster deployment timelines than traditional power sources.

The company has been positioning fuel cell capacity across a growing list of partners. That includes utilities like American Electric Power and data center operators like Equinix and Brookfield Asset Management, in addition to Oracle.

Bloom’s stock has been one of the stronger performers in the market. It nearly quadrupled in 2025 and was already up more than 100% this year heading into Monday. The company’s market cap has crossed $50 billion.

Oracle also had a good day independent of the Bloom news. Its stock climbed nearly 13% in regular trading as investors bought into software names that had been under pressure from AI-related concerns. Oracle’s stock is still down about 20% for the year, even with Monday’s rally.

Oracle has raised over $100 billion in debt to fund its AI data center buildout. Bloom’s fuel cells are part of that broader infrastructure push, with systems to be deployed at Oracle facilities across the United States.

As of Monday’s close, Bloom had already contracted hundreds of megawatts of fuel cell capacity with multiple partners, with Oracle now one of its largest commitments.

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