11:15 AM EDT, 10/13/2025 (MT Newswires) -- Bloom Energy ( BE ) shares soared on Monday after announcing a $5 billion partnership with Brookfield Asset Management ( BAM ) to deploy its fuel cell technology in building artificial intelligence infrastructure.

The companies said in a joint statement that Bloom becomes the preferred onsite power provider for Brookfield's global AI factories, with a site in Europe to be announced before the year ends.

Alternative asset manager Brookfield will invest up to $5 billion as part of the deal.

Shares of Bloom Energy ( BE ) were up 25% intraday, taking their year-to-date gains to nearly 400%. Brookfield was up 2.8%.

"Unlike traditional factories, AI factories demand massive power, rapid deployment and real-time load responsiveness that legacy grids cannot support," Bloom Chief Executive KR Sridhar said. "Together, we are creating a new blueprint for powering AI at scale."

Bloom converts fuels like natural gas, biogas and hydrogen into electricity without combustion. Deloitte said in June that power demand from AI data centers in the US could exceed 100 gigawatts by 2035.

Bloom Energy ( BE ) has already deployed hundreds of megawatts of its fuel cell technology to data centers through partnerships with American Electric Power ( AEP ) , Equinix ( EQIX ) and Oracle (ORCL).

"Behind-the-meter power solutions are essential to closing the grid gap for AI factories," said Sikander Rashid, global head of AI infrastructure at Brookfield. "Bloom's advanced fuel cell technology gives us the unique capability to design and construct modern AI factories with a holistic and innovative approach to power needs."

Price: 109.24, Change: +22.37, Percent Change: +25.75