Oracle commits to 2.4-gigawatt datacenter buildout after Bloom Energy resolves force majeure constraints on power supply

A tense 24 hours for Bloom Energy shareholders ended in relief on Friday, as the fuel-cell maker's stock rebounded 8.5% to close at EUR 254.50 after Oracle confirmed it remains fully committed to a 2.4-gigawatt fuel-cell capacity agreement for its New Mexico data-center campus. The shares closed about 18% below their 52-week high.

The turbulence began Thursday when media reports surfaced that Oracle had issued a force majeure notice tied to Project Jupiter, the artificial-intelligence campus in New Mexico powered by Bloom's fuel cells. Investors initially interpreted the move as a threat to the project's timeline, sending the stock sharply lower.

That reading proved incorrect. According to Reuters, the force majeure communication was directed at Stack Infrastructure, a subsidiary of investor Blue Owl, and concerned arrangements between Oracle and Blue Owl rather than Bloom's contract. Blue Owl stated that the measure does not affect its financial commitments to the project, and Oracle confirmed Project Jupiter remains on schedule. Bloom reaffirmed Friday that the partnership is proceeding as planned.

Morgan Stanley reaffirmed its Overweight rating and $310 price target. Analyst David Arcaro argued that Bloom's contractual safeguards and close customer relationship with Oracle effectively contain the risks surrounding the project. The combination of Oracle's confirmation and the analyst call provided momentum for Friday's recovery, demonstrating how quickly institutional buyers were willing to absorb Thursday's overreaction.

On September 14, Mizuho raised its price target to $351 from $242 while maintaining an Outperform rating, citing stronger pricing power, robust demand signals, and improved visibility for deliveries in the second half of 2026 and into 2027.

While the Oracle dispute was resolved, Bloom pressed ahead with its positioning in the AI infrastructure market. The company unveiled an 800-volt direct-current architecture for data centers that eliminates conventional transformers. On September 16, it quantified the benefits: a 1-gigawatt AI data center could reduce investment costs outside computing equipment by $3.6 billion, or 27%, while total operating costs over five years would fall by $5.5 billion, or 9%.

Kaplan Fox & Kilsheimer LLP has filed a securities class action against Bloom Energy covering purchases made between February 27, 2025 and July 8, 2026. The allegations, also taken up by the Rosen Law Firm, concern disclosures about scandium procurement, specifically claims that the company concealed dependence on raw materials sourced from China through intermediaries. Lead plaintiff nomination deadline is September 28, 2026.

Separately, Chief Legal Officer Shawn Marie Soderberg disposed of 2,870 shares on September 16 under a trading plan to cover tax obligations—a routine practice consistent with standard executive disclosure requirements.

With a gain of 239% since the start of the year, Bloom ranks among the strongest U.S. exchange performers. Such a run naturally invites profit-taking and heightened sensitivity to negative industry news. Yet as long as the company reliably supplies its major projects and contractual agreements hold, the opportunities appear to outweigh the risks posed by the stock's pronounced volatility.