Bloom Energy to Deliver Up to 2.8 GW of Fuel Cells Under Oracle Agreement

Oracle has expanded its existing collaboration with Bloom Energy, announcing that the company will supply up to 2.8 gigawatts of fuel cells. This new agreement supports Oracle's goal of increasing clean energy use in its data centers and infrastructure projects. Bloom Energy will deliver fuel cell systems to Oracle with a total capacity of 2.8 GW starting in 2024. The agreement expands on a previous supply contract of 1.2 GW, combining the sustainability strategies of both companies. Deliveries will be phased between 2025 and 2026. This expansion intensifies competition in the fuel cell market while contributing to Oracle's efforts to reduce its carbon footprint. Bloom Energy's cells, known for high efficiency and low emissions, have the potential to reduce fossil fuel use in data center operations. This is not investment advice.

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The news indicates that Oracle has signed a large-scale energy agreement, pointing to the company's potential for operational expansion. Technical indicators show the RSI approaching overbought territory at 74, which could trigger some profit-taking in the short term. However, the MACD remaining above its signal line and the price trading above both the 20-day and 50-day moving averages confirm a strong uptrend. The 14% increase in the last closing suggests the news was well received. Short-term upward momentum is expected to continue, but caution is warranted due to overbought signals.

RSI 14

74.5

MACD

4.17

24h Δ

14.07%

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