Bloom Energy secured a $1.7 billion investment from Industrial Development Funding and Oaktree Capital to deploy fuel cell systems powering Nebius’ AI cloud infrastructure, the companies announced July 16, 2026. The deal marks the latest major commitment to power the surging demand for on-site electricity in AI data centers, as Bloom Energy works to rebuild investor confidence after a turbulent week.
The investment will support behind-the-meter power generation for Nebius, a cloud computing platform focused on AI workloads. According to the press release, Nebius selected Bloom Energy for its fuel cell technology’s speed to deployment, clean energy profile, and ability to meet the performance demands of AI computing. Morgan Stanley served as the tax equity investor and placement agent, while MUFG Bank provided senior debt financing.
Bloom Energy’s stock had faced pressure earlier in July after short seller Hunterbrook Media published a report on July 8 questioning the company’s supply chain claims and financial disclosures. Shares fell as much as 12 percent that day, according to Investing.com. The company rebounded 6 percent on July 9 after issuing a statement rejecting the allegations as “false and misleading” and reaffirming the integrity of its audited financial statements. Bloom Energy also defended its supply chain, stating it has sufficient scandium oxide inventories to support customer demand and that its supply chain does not depend on China.
The $1.7 billion commitment expands Bloom Energy’s footprint in the AI infrastructure market. In June, the company expanded its partnership with Brookfield Asset Management from $5 billion to $25 billion to finance AI-focused fuel-cell power projects. Earlier in 2026, Bloom Energy signed a deal with Oracle to supply up to 2.8 gigawatts of fuel cell capacity for data center power, according to Barron’s. These agreements reflect institutional investors’ confidence in Bloom’s solid oxide fuel cell technology as a solution to the power constraints facing AI data center buildouts.
Aman Joshi, Bloom Energy’s Chief Commercial Officer, said in the announcement: “AI infrastructure customers need more than innovative technology. They also need a path to finance and deploy power rapidly. Our collaboration with IDF demonstrates how institutional capital can help accelerate the build-out of AI infrastructure.” IDF and Bloom Energy have previously collaborated on a diversified portfolio exceeding $2.6 billion in Bloom fuel cell projects, the company noted.
Sources
- PR Newswire — Official announcement of the $1.7 billion IDF and Oaktree investment in Bloom Energy fuel cells for Nebius AI infrastructure.
- Yahoo Finance — Coverage of Bloom Energy’s stock rebound after rejecting Hunterbrook short-seller allegations; company’s defense of supply chain and financial reporting.
- Investing.com — Report of Bloom Energy shares falling 12 percent on July 8 after Hunterbrook short-seller report.
- Barron’s — Coverage of Bloom Energy’s expanded $25 billion partnership with Brookfield and Oracle’s 2.8 GW fuel cell agreement.
