Bloom Energy Lands $2.6 Billion Nebius Deal for 250 MW of European AI Data-Center Power
Updated
Updated · CNBC · May 21
Bloom Energy Lands $2.6 Billion Nebius Deal for 250 MW of European AI Data-Center Power
9 articles · Updated · CNBC · May 21
$2.6 billion in potential service fees will flow to Bloom Energy under a deal to install and operate fuel cells at Nebius data centers across Europe.
Nebius will buy the electricity from Bloom's onsite systems, which are meant to bypass grid bottlenecks that have slowed AI infrastructure buildouts and raise available power faster.
The project is set to roll out in three phases over 10-year terms, delivering about 250 megawatts of guaranteed capacity and 328 megawatts of installed capacity.
Shares reflected the announcement before the bell, with Bloom up 1.6% and Nebius rising more than 7%.
The agreement adds to Nebius's rapid European expansion after a $2 billion Nvidia investment, a $27 billion Meta infrastructure deal and plans for a 310 MW Finland data center due to start serving customers in 2027.
As tech giants build private power stations, who will ultimately control the future of AI infrastructure?
Can fuel cells truly power the AI revolution, or is it a costly fix for a broken energy grid?
Bloom Energy–Nebius Group 4 GW Fuel Cell Deal: Powering the Next Generation of AI Data Centers Amid Europe’s Grid Crisis
Overview
The landmark agreement between Bloom Energy and Nebius Group marks a major step in solving the energy challenges facing AI data centers. By providing Nebius with a stable, long-term power source, Bloom’s advanced fuel cell technology helps bypass traditional grid congestion and delivers clean, onsite power that is crucial for demanding AI workloads. These highly efficient fuel cells can run on natural gas, biogas, or hydrogen, offering flexibility and lower emissions. The contract’s phased and flexible structure ensures that as Nebius expands, power infrastructure can be deployed quickly and efficiently to meet growing AI demands.