Nebius’s Endorsement of Bloom Energy’s Fuel-Cell Technology

Recently, Nebius Group N.V. (NBIS) released its quarterly results, which included some encouraging comments about Bloom Energy Corporation (BE).

During the Q2 earnings call, Chief Communications Officer Tom Blackwell mentioned that switching to Bloom’s fuel-cell technology would significantly enhance the company’s planned 300-megawatt AI data center in Vineland, New Jersey, particularly from a community perspective.

Chief Product and Infrastructure Officer Andrey Korolenko added that Bloom’s fuel cells should be deployed quickly, with no significant impact expected on the project timeline. This positive news sent BE stock 12.3% higher on Wednesday, August 12.

The Importance of Bloom Energy’s Fuel-Cell Technology

Bloom Energy’s fuel cells generate electricity from hydrogen and oxygen without carbon emissions at the point of use, making them an attractive option for AI hyperscalers that need huge amounts of reliable power.

With regional grids struggling to keep pace with data center electricity demand, companies like Bloom Energy are increasingly being looked at as an alternative way to fill that gap.

Nebius’s Decision to Switch to Bloom Energy’s Fuel Cells

The company now sees Bloom as a quieter, reliable, ultra-low-emission power solution, which will help overcome local zoning and community hurdles.

Nebius is working to amend its site plan following the switch to Bloom Energy’s fuel-cell technology, which could be crucial for BE stock.

This latest vote of confidence adds another positive signal for BE stock, which has already seen a huge run. But can this latest endorsement help support the shares after such a huge surge?

About Bloom Energy Stock

Bloom Energy’s shares have had a big year so far, but the recent action has been a lot less clear-cut. The latest move gives investors a glimpse of why.

Shares jumped roughly 12.3% after Nebius Group said its 300-megawatt New Jersey AI data center project would switch to Bloom’s fuel cells.

Bloom Energy sits in the middle of the AI infrastructure race, with its fuel cells generating electricity from hydrogen and oxygen without carbon emissions at the point of use.

With more than 2,000 employees worldwide, the company manufactures its systems in the United States and has spent over 25 years building onsite energy solutions.

Today, Bloom’s market capitalization is at $69.9 billion.

Bloom Energy’s Q2 Earnings Report

Bloom Energy is showing what can happen when surging AI power demand meets a business built around clean, reliable energy.

The company’s latest financial numbers suggest that investors may have good reason to keep watching the stock, with Bloom Energy delivering a standout second-quarter report on July 28.

For Q2 2026, Bloom Energy generated revenue crossing the $1 billion mark for the first time, with revenue coming in at $1.065 billion, up a whopping 166% year-over-year (YOY).

Product revenue, which includes its core SOFC systems, was even stronger, jumping 215.4% annually to $935.4 million.

The growth was not just about the top line. Bloom also made meaningful progress on profitability, with non-GAAP gross margin improving to 34.3% from 28.2% in the year-ago quarter.

Adjusted EPS surged to $0.78 from just $0.10 in the year-ago quarter, comfortably beating Wall Street’s estimate and marking Bloom’s seventh consecutive quarterly earnings beat.

Cash flow added another layer of strength to the quarter, with net cash provided by operating activities reaching $226.4 million, a sharp turnaround from the -$213.1 million outflow recorded in the prior-year period.

Bloom finished Q2 with $2.67 billion in cash, giving it a substantial liquidity cushion.