Quick Overview
- Nebius Group (NBIS) stock rose more than 8% during premarket hours Thursday following the announcement of a decade-long, $2.6 billion fuel cell partnership with Bloom Energy (BE).
- Under the agreement, Bloom Energy will deploy, manage, and service solid oxide fuel cell systems throughout Nebius’s AI-focused data center infrastructure.
- Initial deployment is scheduled for 2025, featuring 328 MW of power capacity, supporting Nebius’s goal to exceed 4 GW of total contracted power before year’s end.
- First-quarter 2026 results showed Nebius revenue reaching $399 million, marking a 684% increase compared to the prior year, while contracted power targets were upgraded from 3 GW to 4 GW.
- Bloom Energy shares also rallied following the announcement, with analysts maintaining a “Moderate Buy” stance and establishing price projections reaching $335.
Shares of Nebius Group (NBIS) surged over 8% in Thursday’s premarket session, reaching $207.94, following the company’s revelation of a $2.6 billion fuel cell capacity partnership with Bloom Energy (BE). Both companies experienced upward momentum from the announcement.
The decade-spanning agreement calls for Bloom Energy to deploy, manage, and maintain its advanced solid oxide fuel cell infrastructure throughout Nebius’s expanding AI cloud computing and data center operations. The initial installation phase is expected to commence this year, delivering 328 MW of power capacity right from launch.
For Nebius, this partnership addresses a critical challenge: securing adequate power supply rapidly. AI-focused data centers operating computationally intensive workloads often cannot afford extended delays for traditional grid connections.
Bloom’s fuel cell infrastructure enables Nebius to circumvent grid limitations completely. These systems operate on natural gas, biogas, or pure hydrogen, delivering notable efficiency advantages and reduced environmental impact.
How This Agreement Benefits Bloom Energy
For Bloom Energy, the Nebius partnership represents far more than just headline revenue figures. This agreement transforms BE’s conventional hardware-focused business model into a predictable revenue framework through ongoing monthly service payments throughout the contract duration.
The deal also reinforces Bloom’s recent momentum with major corporate clients. The firm has secured multiple gigawatt-scale fuel cell contracts with American Electric Power (AEP) and Oracle (ORCL) over recent months.
BE shares have rallied approximately 140% since bottoming out in late March. Wall Street analysts collectively rate the stock as a “Moderate Buy,” with some price projections extending to $335 — indicating potential upside of roughly 17% from present levels. Situational Awareness LP, an investment firm, recently revealed a position approaching one billion dollars in the company.
Strong Q1 Performance Validates Nebius Strategy
The Bloom partnership announcement followed impressive quarterly results from Nebius. The Amsterdam-headquartered firm disclosed first-quarter 2026 revenue of $399 million, representing a massive 684% surge from $50.9 million recorded in the comparable period one year earlier.
Adjusted loss per share registered at 33 cents for the three-month period ending March 31.
Nebius additionally increased its 2026 contracted power forecast from 3 GW to 4 GW. DA Davidson analyst Alexander Platt highlighted that results demonstrated “continued demand signals across customer demographics.”
Analyst perspectives vary considerably. Citigroup maintains a Buy recommendation with a $287 price objective (updated May 15), whereas Morgan Stanley carries an Equal-Weight stance with a $144 target. DA Davidson holds a Neutral assessment with a $250 projection.
Over the trailing twelve months, NBIS stock has appreciated nearly 393%. The equity currently trades significantly above its primary moving averages, with notable resistance identified at its 52-week peak of $233.73.
