First Read Bloom Energy Corp Nebius to deploy more BE fuel Cells

研报英文原文证据摘录

First Read Bloom Energy Corp Nebius to deploy more BE fuel Cells

Global Research

16 July 2026ab

First Read

EquitiesBloom Energy Corp

Nebius to deploy more BE fuel Cells United States

Electric Components & Equipment

12-month rating Buy

What happended?

Industrial Development Funding ("IDF") and Oaktree today announced $1.7Bn in 12m price target US$350.00

project investment as part of a broader commitment to support the deployment of BE

fuel cell technology for the build-out of AI cloud infrastructure. Once complete, the

Price (15 Jul 2026) US$239.38

project will provide dedicated behind-the-meter power, helping Nebius meet demand

for the compute capacity underpinning its AI cloud platform. IDF is the lead developer of RIC: BE.N BBG: BE US

the Nebius project, with minority equity participation from Oaktree. We would like to Trading data and key metrics

highlight that the partnership between Nebius and Bloom Energy was first announced in

52-wk range US$345.85-24.31

May 2026. As per the press release, Nebius selected Bloom for its speed to power, clean

Market cap. US$67.4b

technology, and ability to support the performance and availability demands of AI

Shares o/s 282m (COM)

workloads.

Free float 96%

Why is the timing important? Avg. daily volume ('000) 2,475

Recently, two short-seller reports on Bloom Energy (BE) were published, broadly Avg. daily value (m) US$672

challenging aspects of the company's business model and ability to scale up to meet Common s/h equity (12/26E) US$1.39b

growing demand. While we have already highlighted what we view as significant P/BV (12/26E) 48.8x

inconsistencies in those analyses, some investors have remained concerned about the Net debt to EBITDA (12/26E) NM

potential impact on BE's sales pipeline.