Bloom Energy x Nebius (fuel cell capacity agreement)

Bloom Energy (NYSE: BE) builds solid oxide fuel-cell systems for onsite / islanded power, including behind-the-meter generation for data centers and AI infrastructure. Jun 2026: Brookfield expanded its Bloom AI power financing framework from $5B to $25B.

Nebius Group is the Amsterdam-headquartered AI compute cloud that emerged in 2024 from the restructuring of Yandex N.V., after the Russian search company's founder Arkady Volozh divested the Russia-based businesses and kept the international assets. It trades on Nasdaq under NBIS and reported roughly $530 million in 2025 revenue, a figure the company has guided sharply higher as new capacity comes online. Alongside the core AI cloud sit adjacent holdings: autonomous-driving unit Avride, edtech TripleTen, and equity stakes in Toloka and ClickHouse. The operator sits in the training-first tier of the neocloud pack, positioning against CoreWeave and Crusoe with vertically integrated data centers rather than pure colocation. Its anchor site is a self-built campus in Mantsala, Finland, joined by a colocated GPU cluster at Equinix Paris, an under-construction cluster in Kansas City, Missouri, and a 300 MW campus rising in Vineland, New Jersey. In 2026 Nebius disclosed a multi-year capacity contract with Microsoft valued in the multi-billion-dollar range, and Nvidia committed a $2 billion strategic investment in March 2026, cementing its status as a preferred Nvidia partner across the Hopper and Blackwell generations. Distinctively for a neocloud, Nebius publishes on-demand and preemptible per-GPU-hour pricing directly on its site, ships a managed inference product it calls Token Factory, and pairs the raw compute business with a research and developer-programs arm inherited from its Yandex engineering roots. The February 2026 acquisition of AI search company Tavily for roughly $400 million signals a push up the stack into agent tooling rather than staying purely at the infrastructure layer.