Bloom Energy Jumps 13% as Nebius Picks Its Fuel Cells for AI Data Center, FuelCell Climbs 11%

Nebius Group chose Bloom Energy fuel cells for its 300-megawatt AI data center, lifting BE 13% and FCEL 11% in sympathy.

NVIDIA-backed Nebius surged 26% after its Q2 earnings call, while PLUG lagged with a 3% gain after leading the sector with 10% on Tuesday.

Bloom Energy reported Q2 revenue of $1.07 billion, up 165%, with CEO KR Sridhar claiming all major U.S. hyperscalers have approved its power solutions.

It sounds nuts, but SoFi1 is giving new Active Invest users up to $3,000 in stock for a limited time, and all it takes is a $50 deposit to get started.2 See for yourself (Sponsor)

Bloom Energy ( NYSE:BE ) shares are rallying midday Wednesday after Nebius Group named the fuel cell maker as its behind-the-meter power partner for a flagship AI data center. Bloom Energy stock is up 13% to $238, extending a torrid run that has the shares up 171% year to date (YTD).

The move is dragging the broader fuel cell complex higher. FuelCell Energy ( NASDAQ:FCEL ) shares are climbing 11% to $21.35, while the Global X Hydrogen ETF ( NASDAQ:HYDR ) is advancing 4% to $46.13. Plug Power ( NASDAQ:PLUG ) shares are lagging at up 3% to $2.29, a reversal from Tuesday's 10% lead on Plug Power's Q2 2026 margin turnaround and raised 2026 guidance.

The setup is a role reversal from a day ago. Yesterday's rally was a Plug Power single-name story. Today, Bloom Energy holds the concrete data center win, and the theme is participating around it.

The catalyst arrived on the Q2 2026 earnings call from Nebius Group ( NASDAQ:NBIS ), the NVIDIA ( NASDAQ:NVDA )-backed AI cloud operator. Nebius management said switching the power source to Bloom Energy fuel cells "significantly enhances" its planned 300-megawatt Vineland, New Jersey AI data center, calling the units "an on-site power solution delivering reliable power quietly and ultra-low emissions," with "no significant impact" on the project timeline.