Oracle Agrees to Buy Power From Bloom for AI Data Centers

Oracle Corp. agreed to purchase as much as 2.8 gigawatts of fuel-cell power from Bloom Energy Corp. to supply data centers for artificial intelligence work.

An initial 1.2 gigawatts of capacity has already been contracted and will be used this year and in 2027 at Oracle projects in the US, the companies said Monday in a statement. A gigawatt is enough electricity to supply about 750,000 US households at any one time.

Bloom shares jumped about 14% in extended trading on the news, after closing at $176.67 in New York. The energy company’s stock has more than doubled in ...