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Oracle has agreed to procure up to 2.8 gigawatts of electricity generated through Bloom Energy's fuel-cell systems.
Oracle has secured up to 2.8 gigawatts of Bloom Energy fuel-cell power for AI data centres.
KEY POINTS
- 1.2 gigawatts of this power deal is already finalized for US projects through 2027.
- Bloom Energy granted Oracle a warrant to buy 3.5 million shares at a fixed price until October 9.
- Oracle plans to invest $50 billion in capital expenditure this year, mainly for AI data centres.
- Oracle's large-scale layoffs coincide with increased AI spending and have not been officially linked.
COMPANIES
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