On May 21, Bloom Energy rose 3.43% in regular trading, trading at approximately $296.19 per share, with trading volume of $706 million. The stock was buoyed by the disclosure of a major commercial agreement with Nebius.

According to an SEC filing, a Nebius subsidiary signed a master fuel cell capacity agreement and related system orders with Bloom Energy on May 14. Under the contract, Nebius will pay monthly service fees totaling up to $2.6 billion over the term of the agreement to purchase capacity and associated electricity generated by the power supply systems. The project is expected to come online in three phases, providing guaranteed capacity of approximately 250 megawatts and system installed capacity of about 328 megawatts, with Bloom Energy responsible for installation, operation, and maintenance.

The deal adds to Bloom Energy's growing pipeline of large-scale power contracts serving data center clients, following its record Q1 results that included revenue of $751 million and adjusted EPS of $0.44, both significantly exceeding market expectations. The stock has gained over 194% year-to-date.

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