Oracle expands Bloom Energy deal days after receiving $400 million stock warrant
Summary
Oracle received a warrant to buy up to 3.53 million Bloom Energy shares at $113.28 each (a $400 million potential investment) and has until Oct. 9 to exercise it. The companies expanded their partnership, with Oracle contracting 1.2 gigawatts of Bloom fuel cell capacity now and planning to procure up to 2.8 gigawatts in total, targeting deployment completion by 2027. Bloom shares jumped about 15% on the announcement, lifting the stock to roughly $203 and creating an approximate $316 million paper gain for Oracle versus the warrant price. Oracle will operate the Bloom systems at U.S. data centers as part of its AI buildout, and Bloom’s on-site fuel cells continue to attract data center and utility customers.
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