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Oracle Bloom Deal Expands
Description
Oracle expanded its partnership with Bloom Energy, receiving a warrant to purchase up to 3.53M shares at $113.28, totaling $400M. Oracle contracted 1.2 gigawatts of Bloom fuel cell capacity with plans for up to 2.8 gigawatts by 2027. Bloom shares rose 15% to nearly $203, while Oracle shares gained nearly 13%. Bloom has more than doubled in value this year driven by AI data center demand.
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