A power storage device from Bloom Energy in San Ramon, California.
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bloom energy company The company’s stock rose to a 52-week high after announcing a partnership with Nebius, a European AI cloud provider that aims to overcome power constraints in building AI infrastructure.
Nevius announced Wednesday that it will deploy Bloom’s fuel cell technology to generate more and faster electricity in its U.S. data centers, with the potential to expand globally.
The group will pay Bloom up to $2.6 billion in service fees over the term of the agreement, subject to terms, the company said in an SEC filing.
The cloud company plans to purchase the electricity generated by Bloom’s system, and Bloom will install and manage the equipment. According to the application, the project will be developed in three phases over 10 years and will provide approximately 250 megawatts of guaranteed power capacity and 328 megawatts of installed capacity.
Bloom shares rose more than 12%, while Nasdaq-listed Nevius rose more than 16%.
“Power remains a key constraint for building AI infrastructure,” Andrei Korolenko, chief product and infrastructure officer at Nebius, said in a statement. “We chose Bloom because their fuel cells directly solve that problem: clean power with almost no pollutants, delivered on-site with the availability that AI workloads require and on the timelines our customers require.”
“As we continue to expand our capabilities, we look forward to having this technology work alongside our infrastructure,” he added.
Nebius has secured several partnerships as it emerges as Europe’s leading AI computing provider. That includes a $2 billion investment from. Nvidia and $27 billion in infrastructure deals. Meta In March.
It also recently announced plans to build the region’s largest AI data center in Finland, with a capacity of 310 MW, to begin supplying customers by 2027.
Several AI computing initiatives have been announced in Europe, but there are challenges, including higher energy prices than in the U.S. and projects facing grid connection delays and energy constraints.
—CNBC’s Kai Nicol-Schwarz contributed to this article.
Correction: This article has been updated to reflect that Nebius is deploying Bloom Energy’s technology in its US data centers.
