Bloom Energy (BE.US) rose 14% after hours after signing a power supply agreement with AI company CoreWeave.
AInvestTuesday, Jul 16, 2024 9:30 pm ET
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Bloom Energy(BE.US) announced on Thursday that it has entered into a strategic partnership with CoreWeave, deploying its proprietary fuel cells at a high-performance data center in Waterloo, Illinois, to provide on-site power generation for CoreWeave.

The modern data center, owned by Chirisa Technology Parks, will allow for high-density deployment and advanced cooling systems to enable CoreWeave to provide performance-optimized and efficient cloud solutions for artificial intelligence (AI).

Bloom’s fuel cells will be available for commercial deployment in the third quarter of 2025. The company said the partnership highlights its ability to meet the growing energy demands of the AI sector.

CoreWeave, a cloud services startup backed by Nvidia(NVDA.US), was founded in 2017 and is based in New Jersey.

Bloom Energy shares rose 14.19% to close at $17.22 on Thursday.

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