Bloom Energy's biggest deployment, a 2.45 GW fuel cell project at Oracle's Project Jupiter data center in New Mexico, is delayed due to a natural gas pipeline setback pushed from August 2026 to February 2027. This delay threatens Bloom's revenue targets for 2027 and 2028, as the fuel cells require natural gas to operate and the company does not control the pipeline infrastructure. Oracle has issued a force majeure notice to defer payments if the project misses its 2028 operational target, adding financial uncertainty. While Bloom claims its equipment can be redeployed to other projects, the delay raises concerns about the timing of backlog conversion and the high valuation priced into the stock. Investors should watch this risk closely in upcoming reports.
Bloom Energy's market cap stands at $81.05 billion as of September 24, 2026, 22:41 WIB, while Oracle's market cap is significantly larger at $437.11 billion. On Pluang, Bloom Energy shares fell 6.45% in one day to USD 257.45, reflecting heightened investor concern, and Oracle's shares dropped 4.99% to USD 137.33. The typical hold time for Bloom Energy on Pluang is relatively short at 4 days, indicating active trading amid the project's delay news.
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