Bloom Energy Secures $2.6 Billion Deal With Nebius to Power European AI Data Centers

Bloom Energy shares rose in premarket trading Thursday after the fuel-cell company announced a partnership with Nebius, a European AI cloud provider, under which Nebius will pay Bloom up to $2.6 billion in service fees over the life of the agreement, subject to conditions.

The deal, disclosed in a filing with the Securities and Exchange Commission, calls for Nebius to deploy Bloom's fuel-cell systems at its European data centers to generate on-site electricity. Bloom will install and manage the equipment, while Nebius purchases the electricity the systems produce.

The project is expected to roll out in three phases over 10-year terms, providing approximately 250 megawatts of guaranteed power capacity and 328 megawatts of installed capacity, according to the filing.

Bloom was last trading 1.6% higher before the opening bell, while Nebius shares — listed on the Nasdaq — were up more than 7%.

"Power remains a key constraint for AI infrastructure build-outs," Nebius Chief Product and Infrastructure Officer Andrey Korolenko said in a statement. "We chose Bloom because their fuel cells solve that directly: Clean power with virtually no pollutants is deployed onsite, on the timelines our customers need, with the availability AI workloads require."

Korolenko added that Nebius expects to put the technology to work as the company continues to scale its capacity.

The agreement underscores the mounting energy pressures facing AI infrastructure operators in Europe, where electricity prices are considerably higher than in the United States. Data center projects across the region have also faced delays connecting to power grids, reinforcing demand for on-site generation solutions.

Nebius has moved aggressively to establish itself as a leading AI compute provider on the continent. The company secured a $2 billion investment from Nvidia and announced a $27 billion infrastructure deal with Meta in March. It also recently unveiled plans to build what it describes as the region's largest AI data center in Finland, with a capacity of 310 megawatts and a target of supplying customers by 2027.

The Bloom partnership adds a power-supply dimension to that expansion strategy, signaling that securing reliable, clean electricity — rather than compute capacity alone — has become a central competitive challenge for European AI infrastructure providers.

For Bloom, the deal represents one of its largest commercial commitments to date, coming as energy-intensive AI workloads create fresh demand for distributed power generation outside traditional utility grids.

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