Key Highlights
- Shares of Nebius Group (NBIS) climbed more than 8% during Thursday’s premarket session following the unveiling of a $2.6 billion decade-long fuel cell partnership with Bloom Energy (BE).
- Under the agreement, Bloom Energy will deploy, manage, and service solid oxide fuel cell infrastructure throughout Nebius’s AI data center operations.
- Initial deployment is scheduled for this year with 328 MW of capacity, supporting Nebius’s target of exceeding 4 GW of secured power before year-end.
- First quarter 2026 results showed Nebius revenue reached $399 million, marking a 684% year-over-year increase, while contracted power forecasts were upgraded from 3 GW to 4 GW.
- Bloom Energy shares also gained momentum following the announcement, with analysts maintaining a “Moderate Buy” stance and price projections reaching $335.
Shares of Nebius Group (NBIS) surged over 8% in Thursday’s premarket hours, reaching $207.94, after the Amsterdam-based company revealed a $2.6 billion fuel cell capacity partnership with Bloom Energy (BE). The announcement triggered positive movement in both companies’ stock prices.
The decade-long arrangement calls for Bloom Energy to deploy, operate, and service its advanced solid oxide fuel cell infrastructure throughout Nebius’s expanding AI cloud and data center ecosystem. Initial operations are expected to commence within the year, featuring 328 MW of capacity right from launch.
For Nebius, this partnership addresses a critical infrastructure challenge: securing sufficient power capacity quickly. AI-focused data centers operating high-density computational workloads often face extended timelines when waiting for traditional grid infrastructure.
Bloom’s advanced fuel cell platform enables Nebius to circumvent grid bottlenecks completely. These systems operate on natural gas, biogas, or hydrogen, delivering enhanced efficiency while producing reduced emissions.
The Strategic Value for Bloom Energy
For Bloom Energy, this Nebius partnership represents far more than headline-grabbing contract value. The arrangement transforms BE’s conventional hardware sales approach into a predictable recurring revenue model through ongoing monthly service payments throughout the contract duration.
The deal also builds on Bloom’s recent momentum with major enterprise clients. The company has secured multi-gigawatt fuel cell commitments with American Electric Power (AEP) and Oracle (ORCL) over the past several months.
BE shares have surged approximately 140% from their late-March bottom. Wall Street’s consensus stands at “Moderate Buy,” with analyst price objectives extending to $335 — implying roughly 17% additional upside potential from present levels. Situational Awareness LP recently revealed a position in the stock valued near $1 billion.
Strong Quarterly Performance Supports Nebius Momentum
The Bloom Energy partnership announcement followed impressive first-quarter results from Nebius. The company delivered Q1 2026 revenue of $399 million, representing a massive 684% increase compared to $50.9 million during the comparable year-ago period.
Adjusted loss per share registered at 33 cents for the quarter concluding March 31.
Nebius elevated its 2026 contracted power guidance from 3 GW to 4 GW. DA Davidson’s Alexander Platt observed that the results demonstrated “continued demand signals across customer demographics.”
Analyst projections show considerable variation. Citigroup maintains a Buy recommendation with a $287 price objective (upgraded May 15), while Morgan Stanley holds an Equal-Weight stance with a $144 target. DA Davidson carries a Neutral rating accompanied by a $250 price target.
Over the trailing twelve months, NBIS stock has surged nearly 393%. Shares currently trade substantially above critical moving averages, with primary resistance positioned at the 52-week peak of $233.73.
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