Oracle is expanding its partnership with Bloom Energy to power its artificial intelligence and cloud infrastructure.
The agreement allows Oracle to procure up to 2.8 gigawatts (GW) of solid oxide fuel cell systems.
Oracle has already contracted 1.2 GW for deployment across U.S. projects through next year.
On-site power will accelerate AI data center construction by bypassing traditional utility connection delays.
Bloom Energy issued Oracle a warrant to purchase 3.53 million shares at $113.28 each.
The warrant holds an approximate value of $400 million.
Bloom Energy shares surged in after-hours trading following the announcement.