Bloom Energy Corporation (NYSE:BE) shares surged 24% in early trading on Monday, adding about $6 billion to the company’s market value, after Brookfield Asset Management said it would invest up to $5 billion in Bloom’s fuel cell technology to power data centers worldwide.
The two companies plan to design and build “AI factories” that use Bloom’s clean-energy systems, with the first European site expected to be announced later this year.
The partnership aims to meet the fast-growing electricity demand driven by artificial intelligence, cloud computing, and digital infrastructure.
Brookfield has been ramping up its investment in AI-related energy projects, including commitments worth over $30 billion for similar AI-focused projects in France and Sweden.
Fuel cells generate power through chemical reactions rather than combustion, offering a cleaner alternative to conventional power sources. Depending on the fuel used, emissions are limited to water and heat.