Key Highlights
- Shares of Nebius Group (NBIS) climbed more than 8% during Thursday’s premarket session following the announcement of a $2.6 billion, decade-long fuel cell partnership with Bloom Energy (BE).
- Under the agreement, Bloom Energy will deploy, manage, and service solid oxide fuel cell systems throughout Nebius’s AI-focused data center infrastructure.
- Initial deployment is set to commence in 2025, featuring 328 MW of capacity, contributing to Nebius’s ambitious target of exceeding 4 GW of secured power by the end of the year.
- The company’s first-quarter 2026 results showed revenue reaching $399 million, representing a 684% year-over-year increase, while management elevated contracted power projections from 3 GW to 4 GW.
- Bloom Energy shares also experienced gains following the announcement, with analysts maintaining a generally positive outlook and price projections reaching as high as $335.
Nebius Group (NBIS) experienced a significant premarket surge on Thursday, with shares climbing over 8% to reach $207.94, following the company’s disclosure of a substantial $2.6 billion fuel cell capacity partnership with Bloom Energy (BE). The announcement created positive momentum for both companies.
The comprehensive 10-year arrangement tasks Bloom Energy with deploying, operating, and servicing its advanced solid oxide fuel cell technology across Nebius’s expanding AI cloud infrastructure and data center operations. The initial phase is scheduled to launch this year, bringing 328 MW of installed generation capacity online immediately.
[[EMBED_0]]For Nebius, this partnership addresses a critical infrastructure challenge: securing sufficient electrical power quickly enough to match growth demands. Modern AI data centers operating compute-intensive workloads frequently face lengthy delays when attempting to secure traditional grid connections.
Bloom’s innovative fuel cell platform enables Nebius to circumvent grid capacity constraints altogether. These systems operate on natural gas, biogas, or hydrogen, delivering high efficiency while producing reduced emissions compared to conventional power sources.
Strategic Implications for Bloom Energy
For Bloom Energy, this Nebius partnership represents far more than just headline-worthy contract value. The arrangement transforms BE’s conventional equipment sales approach into a predictable, recurring revenue model through ongoing monthly service charges throughout the agreement’s duration.
The deal also reinforces Bloom’s recent momentum in securing major enterprise partnerships. The firm has finalized multi-gigawatt fuel cell commitments with American Electric Power (AEP) and Oracle (ORCL) over the past several months.
BE shares have surged approximately 140% from their late-March lows. Analyst consensus currently stands at “Moderate Buy,” with price objectives extending to $335 — indicating potential upside of roughly 17% from present levels. Situational Awareness LP, a prominent investment firm, recently revealed a position valued near $1 billion in the company.
Strong First Quarter Results Support Growth Trajectory
The Bloom Energy announcement followed impressive quarterly performance from Nebius. The Amsterdam-headquartered technology company delivered first-quarter 2026 revenue of $399 million, marking a substantial 684% increase compared to $50.9 million during the corresponding period one year earlier.
Adjusted loss per share registered at 33 cents for the quarter concluding March 31.
Nebius simultaneously increased its 2026 contracted power forecast from 3 GW to 4 GW. DA Davidson analyst Alexander Platt highlighted that results demonstrated “continued demand signals across customer demographics.”
Analyst perspectives vary considerably. Citigroup maintains a Buy recommendation with a $287 price objective (updated May 15), while Morgan Stanley holds an Equal-Weight stance with a $144 target. DA Davidson carries a Neutral rating alongside a $250 price target.
Over the trailing 12-month period, NBIS shares have appreciated nearly 393%. The stock currently trades substantially above its primary moving averages, with notable resistance positioned at its 52-week peak of $233.73.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
