Bloom Energy power storage equipment in San Ramon, California.
Smith Collection | Gado | Archive Photos | Getty Images
Shares of Bloom Energy surged Monday after striking a deal with Brookfield to deploy fuel cells for artificial intelligence data centers.
Brookfield will spend up to $5 billion to deploy Bloom Energy’s technology, the first investment in its strategy to support big AI data centers with power and computing infrastructure.
Shares of Bloom Energy were up more than 30% in early trading. Bloom’s fuel cells provide onsite power that can be deployed quickly because they do not rely on the electric grid.
Bloom has already deployed hundreds of megawatts of fuel cells through deals with utilities like American Electric Power and data centers developers like Equinix and Oracle, the company said.
The AI industry’s data center plans are growing in scale. Nvidia and OpenAI, for example, recently announced a partnership that aims to build 10 gigawatts of data centers, equivalent to the power consumed by New York City on some days during the summer.
Nvidia CEO Jensen Huang told CNBC last week that the AI industry will need to build power off the electric to meet demand quickly and protect consumers from rising electricity prices.
“Data center self-generated power could move a lot faster than putting it on the grid and we have to do that,” Huang told CNBC on Oct. 8.
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