Bloom Energy Corp. (NYSE:BE) stock fell more than 6% Thursday after reports that Oracle Corp. (NYSE:ORCL) invoked force majeure tied to Project Jupiter, a massive New Mexico data center project expected to rely on Bloom’s fuel cells for power.
Project Jupiter Faces Delay Risk
Oracle is seeking protection from certain payments if the project is delayed and fails to come online in 2028 as planned, according to Bloomberg.
The development is particularly relevant for Bloom because Project Jupiter is designed to use its gas-powered fuel cells. A key natural gas pipeline expected to supply the site has already been delayed by nearly six months to Feb. 1, 2027, following permitting setbacks.
Oracle said Project Jupiter remains on schedule and that it remains committed to the development. Blue Owl Capital Inc. (NYSE:OWL) also said the notice does not change financial commitments to the multi-year project.
For Bloom, the concern is that any delay to Project Jupiter could push back fuel-cell deployments and the timing of associated revenue recognition.
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Bloom Highlights Customer Diversification
However, Bloom has previously stressed that its growth outlook does not depend on a single customer or project. During its second-quarter 2026 earnings call on July 28, management said its pipeline spans multiple customers and projects at different stages of development.
The company also said its standardized, modular servers can be redeployed relatively easily from one site to another. That flexibility, Bloom said, makes projects in its portfolio more interchangeable and helps it navigate changes in AI infrastructure buildouts.
Bloom said that customer diversity, project fungibility and deployment flexibility gave it visibility and confidence in its growth trajectory for 2026 and beyond.
Thursday’s decline comes after Bloom Energy shares surged about 277% over the past 12 months. The steep run-up leaves the stock more vulnerable to profit-taking when negative headlines emerge.
BE Stock Price Action
Bloom Energy shares were down 6.35% at $257.70 at the time of publication Thursday, according to Benzinga Pro data.
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