Bloom Energy (NYSE:BE) shares gained 1.6% in pre-market trading to $240 as investors continued to respond positively to a major artificial intelligence data centre partnership announced this week.

The catalyst emerged on August 13, when Nvidia-backed AI cloud operator Nebius Group revealed during its second-quarter 2026 earnings call that it had selected Bloom Energy's fuel-cell technology to provide behind-the-meter power for a planned 300-megawatt AI data centre in Vineland, New Jersey.

Nebius executives said the change "significantly enhances" the project and would have "no significant impact" on its development timeline, reinforcing confidence that the power solution can be incorporated without materially delaying the facility.

AI data centre deal strengthens Bloom Energy growth case

The Nebius agreement highlights the growing importance of reliable onsite electricity generation as AI companies race to secure sufficient power for increasingly energy-intensive data centres.

Bloom Energy's fuel-cell systems can provide electricity directly at customer sites, potentially reducing dependence on constrained utility grids and shortening the time required to bring new computing capacity online.

That speed-to-power proposition has become increasingly important as AI infrastructure developers face lengthy grid connection queues and rising electricity requirements.

The 300-megawatt Vineland project therefore represents a significant endorsement of Bloom's technology within the rapidly expanding AI infrastructure market.

Evercore ISI highlights speed-to-power opportunity

Positive analyst commentary added further support to Bloom Energy shares.

Evercore ISI analyst Nick Amicucci reiterated his bullish view on the company during a CNBC appearance, arguing that Bloom's ability to provide power quickly makes it particularly well positioned to benefit from the AI data centre investment boom.

He described the opportunity as the "cherry on top of the icing on top of the cake for Bloom Energy."

Evercore ISI has a $350 price target on the stock, implying further potential upside from the current share price.

Strong Q2 results provide additional momentum

The Nebius agreement follows a strong second-quarter performance from Bloom Energy, which had already strengthened investor confidence in the company's growth trajectory.

Bloom reported on July 28 that second-quarter 2026 revenue surged 165.5% year over year to $1.065 billion.

Management also raised its full-year 2026 revenue guidance to between $3.9 billion and $4.2 billion, combining stronger-than-expected quarterly performance with an improved outlook for the remainder of the year.