Bloom Energy jumps 8% as Oracle reaffirms 2.4-GW Project Jupiter contract

  • Bloom Energy said Oracle remains committed to Project Jupiter and its fuel-cell contract.
  • 8% lifted Bloom Energy shares to $288.77, with a 232% year-to-date gain.
  • Permits remain pending for the site's natural-gas pipeline and fuel-cell installation.

Bloom Energy shares rose 8% to $288.77 in afternoon trading, extending their year-to-date gain to 232%, after Oracle reaffirmed its commitment to Project Jupiter and a contract for 2.4 gigawatts of fuel-cell capacity. The move came despite Oracle issuing a force majeure notice (legal protection against delays) to STACK Infrastructure, the developer of the Dona Ana County, New Mexico, data center campus. Oracle said the project remains on schedule and reiterated its commitment to New Mexico, while Blue Owl Capital said the notice does not change the parties' financial obligations. Bloom Energy said Oracle remains committed to both the project and its contract. The rally significantly exceeded gains in the iShares Global Clean Energy ETF and Invesco QQQ Trust, while Oracle shares fell 1% to $138.11. The project still faces permitting and construction risks, including delays to a natural-gas pipeline and a pending air-quality permit for the planned fuel-cell installation. Investors are watching those approvals because confirmation of the contract does not resolve the project's schedule uncertainty.

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