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Nebius backs Bloom Energy for New Jersey AI data center power
Bloom Energy shares rose 12.3% on Aug. 12 after Nebius endorsed using Bloom's fuel cells for the project, which had earlier faced permitting, zoning, and community opposition.
Nebius Group N.V. said Bloom Energy Corporation could provide power for a planned 300-megawatt AI data center in Vineland, New Jersey, using Bloom's fuel cell technology. During Nebius's Q2 earnings call, Chief Communications Officer Tom Blackwell said the switch would significantly enhance the project from a community perspective, while Chief Product and Infrastructure Officer Andrey Korolenko added that fuel cells could be deployed quickly without a significant impact on the project timeline.
According to Yahoo Finance, the endorsement comes as the AI data center has faced permitting, zoning, and community opposition tied to earlier onsite gas generation plans. Nebius indicated it is seeking final approval for an amended site plan following the change, describing Bloom's solution as quieter, reliable, and ultra-low-emission power.
The market reaction was positive for Bloom, with the stock up 12.3% on Wednesday, Aug. 12. Yahoo Finance also noted that Bloom has been positioned to benefit from demand as power becomes a key bottleneck in the AI boom.
The article adds background on Bloom Energy's technology and business, describing its solid oxide fuel cell systems and customer base that includes data centers and semiconductor makers. It also states Bloom is headquartered in San Jose, California, manufactures its systems in the United States, and had a market capitalization of $69.9 billion.