Key Points
Power demand by data centers is rapidly rising.
Data center developers need to secure power supplies in advance to avoid delays.
Oracle is expanding its partnership with Bloom Energy to secure more of its rapidly deployed advanced fuel cell systems.
AI has massive power needs. Electricity demand by data centers in the U.S. skyrocketed 22% last year to 61.8 gigawatts (GW). That's enough to power nearly 55 million homes for a year. According to a projection by S&P Global's 451 Research, the annual power needs of U.S. data centers could hit 134.4 GW by 2030.
The surge in power demand is driving AI data center developers to secure power supplies. One company they're turning to is Bloom Energy(NYSE: BE). The fuel cell stock was up more than 20% at one point today after expanding its partnership with Oracle(NYSE: ORCL). It could have a lot more room to run.
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Powering an accelerated AI build out
Bloom Energy is expanding its partnership with Oracle to support the rapid build-out of AI and cloud computing infrastructure. Oracle now intends to deploy 2.8 GW of Bloom Energy's fuel cell systems under a master services agreement. That's up from 1.2 GW under the initial agreement, which Bloom is in the process of deploying. These fuel cells will supply Oracle data centers with the high-density power needed to support AI workloads.
Deployment speed is a key competitive advantage of Bloom Energy's fuel cell systems. The company can deploy its modular fuel cell systems much faster than traditional power solutions, which often experience permitting or grid interconnection delays. Last year, Bloom delivered a fully operational fuel cell system to Oracle in only 55 days, more than a month ahead of the 90-day deployment schedule. This rapid deployment is enabling Oracle to accelerate the build-out of AI infrastructure.
AI's power partner
Oracle is one of the many companies turning to Bloom Energy for its energy needs. Last October, Bloom Energy formed a $5 billion strategic AI partnership with Brookfield Corporation(NYSE: BN). Bloom became Brookfield's preferred on-site power provider for AI factories (specialized AI data centers). The global investment firm plans to invest up to $5 billion in deploying Bloom's advanced fuel cell technology in its cutting-edge data centers. This investment is part of the $100 billion that Brookfield plans to deploy into AI infrastructure in the coming years.
Bloom Energy also expanded its long-standing partnership with leading data center REITEquinix last year. It's deploying over 100 megawatts of capacity across 19 Equinix data centers.
Bring your own power is a powerful trend
Data center developers are realizing that they need to bring their own power solutions to their developments to avoid delays. That's driving industry leaders like Oracle and Brookfield to partner with Bloom Energy, which can rapidly deploy on-site power solutions. With more than 100 GW of data center development expected in the U.S. alone by 2035, Bloom Energy has a very long growth runway.
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Matt DiLallo has positions in Brookfield Corporation and Equinix and has the following options: short July 2026 $40 puts on Brookfield Corporation. The Motley Fool has positions in and recommends Bloom Energy, Brookfield, Brookfield Corporation, Equinix, Oracle, and S&P Global. The Motley Fool has a disclosure policy.
