Bloom Energy shares fall about 16% despite NTT DATA and Google data center deals
In brief
- Bloom Energy shares fell approximately 16% on November 6, according to Crypto Briefing.
- NTT DATA agreed to deploy 900 MW of Bloom's solid oxide fuel cells.
- Bloom will build fuel cells for a 702 MW plant at Google's $17 billion Wyoming site.
- Crypto Briefing linked the selloff to US midterm results and domestic policy concerns.
Two deals, 1,602 megawatts
Bloom said on November 5 that NTT DATA had agreed to deploy 900 megawatts of its solid oxide fuel cell systems. They'll serve as the main onsite power source for several data center projects around the world. Bloom called it its largest international deal to date, with first shipments expected in 2027. The agreement is also structured to potentially scale to gigawatt levels across NTT Global Data Centers' network.
The second deal involves Alphabet. Google unveiled its first data center in Wyoming, a $17 billion project, and Bloom is set to build the fuel cells for the 702-megawatt plant that will power the site. That plant's also planned to include carbon capture technology, per the report.
Together, the two deals add up to 1,602 megawatts of new capacity.
"Put the two deals together and Bloom has lined up 1,602 megawatts of new capacity in one news cycle." (Crypto Briefing)
Why the stock fell anyway
Crypto Briefing attributed the selloff to the US midterm election results. According to the outlet, investors were worried that possible policy shifts could slow domestic data center development. That explanation comes from Crypto Briefing, not from Bloom. It matters because Bloom draws most of its revenue from the US market (the NTT DATA deal is international, and its first shipments aren't expected until 2027).
A growing pipeline
Bloom has been signing large data center agreements as AI workloads push electricity demand higher. These aren't new announcements, but the company also has an expanded collaboration with Oracle that could reach up to 2.8 GW, according to Crypto Briefing. Bloom aims to reach an annual production capacity of 2 GW by the end of 2026.
The company's pitch to data center operators is consistent. It highlights rapid deployment, high reliability, low emissions, minimal water use and quiet operation compared with conventional power generation.
Frequently asked questions
Why did Bloom Energy stock fall after announcing new deals?
Bloom Energy shares fell approximately 16% on November 6, 2026, during a broader selloff in AI power and energy infrastructure stocks. Crypto Briefing linked the selloff to the US midterm election results. It said investors were worried that possible policy shifts could slow domestic data center development. Bloom gets most of its revenue from the US market.
What are Bloom Energy's NTT DATA and Google deals?
NTT DATA agreed to deploy 900 megawatts of Bloom's solid oxide fuel cells as the main onsite power source for several data center projects. Bloom will also build fuel cells for a 702-megawatt plant at Google's $17 billion Wyoming data center. Together, the two deals add 1,602 megawatts of new capacity.
