Power shortage has emerged as a major bottleneck amid rapid expansion of AI computing facilities. European AI cloud provider Nebius (NBIS) sealed a long-term partnership with fuel cell manufacturer Bloom Energy (BE). The cross-industry cooperation tackles power supply hurdles for data centers and underscores robust growth prospects of energy solutions tailored for AI infrastructure.
Details of the deal were unveiled in US SEC filings. Bloom Energy will deploy fuel cell systems to supply electricity for Nebius’ European data centers. Under the arrangement, Bloom takes charge of equipment installation and daily operation, while Nebius purchases generated power. The project will be rolled out in three phases, each covering a 10-year term. It is set to deliver 250 megawatts of guaranteed power capacity and reach an installed capacity of 328 megawatts. Nebius may pay up to $2.6 billion in service fees throughout the contract period, subject to contractual terms.
The collaboration stems from prevalent power challenges hindering European AI development. Higher local electricity prices and prolonged grid connection delays make conventional power grids incapable of matching fast-growing computing demands. As a pivotal AI computing player in Europe, Nebius keeps expanding its business footprint. The firm has secured investment from Nvidia and struck a large-scale infrastructure deal with Meta. It also plans to build Europe’s largest AI data center in Finland with a capacity of 310 megawatts, scheduled to commence operation in 2027. Surging power needs drive the company to adopt alternative power supply approaches.
Fuel cell technology perfectly caters to operational requirements of AI facilities. Generating electricity without combustion, the system delivers eco-friendly power with nearly zero pollutant emissions. On-site deployment enables independent operation away from public power grids, cutting construction cycles and ensuring stable power output for intensive AI computing workloads. Corporate executives noted that power constraints restrict AI infrastructure expansion, and fuel cells can be deployed timely to meet practical power demands of computing businesses.
The partnership has triggered positive stock movements and lifted market earnings expectations. Both stocks climbed in premarket trading, with Bloom Energy gaining 1.6% and Nebius surging over 7%, reflecting rising investor confidence in AI power supply segment. Looking at longer-term performance, share prices of both firms have soared sharply. Bloom Energy’s stock skyrocketed more than 14 times over the past year, while Nebius posted a 407% rally in the same period.
Fuel cell business of Bloom Energy keeps expanding thanks to robust AI power consumption growth. The company has inked multiple deals with cloud service providers and power operators in recent years, broadening application scenarios of its products. After years of losses, the company is poised to turn profitable. Market analysts forecast its net profit will hit $475 million in 2026, exceed $1.2 billion in 2027 and climb to $2.1 billion in 2028. Power demands from AI infrastructure serve as the core driving force boosting corporate earnings.
This cross-sector alliance mirrors prevailing industrial trends. Competition in AI industry is no longer limited to computing hardware, and reliable power supply has become decisive for project execution and corporate competitiveness. Off-grid distributed new energy solutions gain growing popularity, and fuel cells stand out for flexibility, cleanness and high efficiency. Energy supporting facilities will remain a vital growth track within AI infrastructure development.
