Oracle eyes 2.8GW of Bloom

Oracle is lining up as much as 2.8 gigawatts of Bloom Energy fuel cells to power United States data centers built for artificial intelligence work. (investor.bloomenergy.com) Bloom said on April 13 that Oracle signed a master services agreement for up to 2.8 gigawatts, with an initial 1.2 gigawatts already contracted and deployment underway into 2027. Bloomberg reported that first tranche will be used at Oracle projects in the United States this year and next year. (investor.bloomenergy.com) (bloomberg.com) Investors treated the agreement as material. Bloomberg said Bloom shares jumped about 14% in extended trading on April 13, and CNBC reported the move came days after Bloom issued Oracle a stock warrant worth nearly $400 million at the October 28, 2025 strike price. (bloomberg.com) (cnbc.com) A fuel cell is an on-site power plant the size of industrial equipment, not a battery. Bloom says its solid oxide systems turn natural gas, biogas, or hydrogen into electricity through an electrochemical process without combustion. (bloomenergy.com 1) (bloomenergy.com 2) That pitch fits the problem Oracle and other cloud companies face in 2026: getting power fast enough for new artificial intelligence campuses. In its announcement, Bloom said artificial intelligence loads need rapid, load-following power that traditional grids were not designed to deliver. (investor.bloomenergy.com) Grid bottlenecks are already slowing projects. Reuters reported this week that Dominion Energy has warned new connections in Northern Virginia can face multi-year delays because the grid cannot keep up with data center demand. (msn.com) Bloom and Oracle are selling speed as the answer. Bloom said it delivered a fully operational fuel cell system to Oracle in 55 days last year, ahead of a 90-day schedule, and said its modular units can cut “time-to-power” and project risk. (investor.bloomenergy.com) The companies have been building toward this for months. A Bloom filing from October 30, 2025 said the partnership covered on-site solid-state power for artificial intelligence data centers, and an April 13, 2026 filing said Bloom issued Oracle a warrant for 3,531,073 shares at $113.28 each on April 9. (sec.gov 1) (sec.gov 2) Bloom is not the only company trying to turn data center power shortages into fuel cell orders. American Electric Power said in November 2024 that it had an agreement for up to 1 gigawatt of Bloom fuel cells for data centers and other large users waiting for grid capacity. (aep.com) For Oracle, the immediate result is more power booked outside the normal utility queue. For Bloom, the test is whether a 1.2 gigawatt deployment can move from announcement to operating equipment on the timetable both companies just put in public. (investor.bloomenergy.com)