Despite its share price doubling over the past two months, Bloom Energy Corp (NYSE: BE), an energy supplier serving Oracle Corporation (NYSE: ORCL), has indicated it has no current plans to raise capital through a stock sale.

The company's Chief Executive Officer, KR Sridhar, stated in an interview on Monday that the firm can recoup the cost of building a new manufacturing facility through product sales in just six months, eliminating the need for additional fundraising at this time.

Sridhar remarked, "If we need to, we certainly will raise capital, but we have no reason to raise capital for the sake of raising capital."

Bloom Energy manufactures fuel cells that generate electricity through a chemical reaction using natural gas, as opposed to burning it directly.

The company estimates that building 1 gigawatt of fuel cell production capacity requires an investment of approximately $100 million to $150 million.

One gigawatt of generating capacity is roughly equivalent to the output of a traditional nuclear reactor.

Bloom Energy recently secured an agreement with Oracle to supply up to 2.8 gigawatts of fuel cell power generation capacity for its data centers.

Sridhar noted that compared to gas turbines, the company's modular power units can help data centers scale with lower emissions and greater speed.

Driven by investor optimism regarding the potential demand for its technology in powering data centers, Bloom Energy's stock has surged more than 200% since the beginning of this year.

However, according to a research report issued by Citigroup analyst Vikram Bagri on May 28, as competition intensifies to provide infrastructure for AI computing needs, the stock's valuation has largely priced in the positive factors following its close at $273.51 on Monday.