On May 26, Bloom Energy rose 4.14% in regular trading, trading at approximately $307.64 per share, with trading volume of $548 million. The stock continued its upward trajectory following a landmark commercial agreement and a major analyst upgrade.

The rally was fueled by Nebius disclosing in an SEC filing that its subsidiary signed a master fuel cell capacity agreement with Bloom Energy on May 14. Under the contract, Nebius will pay monthly service fees totaling up to $2.6 billion over the agreement term to purchase capacity and electricity generated by Bloom Energy's on-site power supply systems. The power capacity is expected to come online in three phases, providing approximately 250 megawatts of guaranteed capacity and 328 megawatts of system installed capacity, with each phase spanning a 10-year term. Bloom Energy will install, operate, and maintain the systems deployed at Nebius's U.S. data centers to address AI infrastructure power bottlenecks.

Additionally, Daiwa Securities upgraded Bloom Energy from Hold to Outperform, raising its target price from $98 to $324, reflecting growing confidence in the company's AI data center power opportunity.

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