Bloom Energy Announces 900-Megawatt Deployment Agreement with NTT DATA Amid Election Debate Over Data Centers

Key Facts

NTT DATA announced an agreement with Bloom Energy on November 5 to deploy 900 megawatts of on-site power across multiple data center projects worldwide. The company said initial shipments under the agreement will begin in 2027, putting execution more than a year after the announcement. The companies described the agreement as Bloom Energy's largest international project as of the announcement date. The announcement comes as data center companies seek to secure reliable power sources to meet the needs of their facilities. EL7 data show the company's stock closed at $173.24 in the November 6 session.

NTT DATA said the relationship is designed to scale across its global data center portfolio and reach gigawatt scale. That means the announced capacity of 900 megawatts represents the current agreement, while the company describes the potential for a broader expansion of the relationship between the partners. NTT DATA did not specify a final size for that expansion or a timeline beyond the start of initial shipments in 2027. The agreement gives Bloom Energy a foothold in multiple international projects, which the company described as its largest international project to date. These plans remain subject to the implementation and expansion stages announced by the two companies.

The NTT DATA agreement is separate from a project to supply power to Google that is being developed by AEP. The announced figures therefore do not represent a single agreement between Bloom Energy, Google and NTT DATA. This distinction matters when assessing the scale of announced demand for data center power.

The agreement followed the U.S. midterm elections, which resulted in Democrats winning both the House and Senate, according to the Associated Press. The agency said several winners pledged to tighten restrictions on energy-intensive data centers. The agency also linked declines in shares of companies associated with AI data centers to concerns that Democratic victories could slow construction, particularly in Texas. This places the expansion of energy infrastructure in the context of a political debate over the cost of data centers and their electricity consumption. But these concerns alone do not establish the cause of Bloom Energy's share price movement in any particular session.

U.S. stocks were mixed in Friday's November 6 session, as investors continued to assess the elections' impact on the economy, according to the Associated Press. The S&P 500 rose 0.3%, the Nasdaq gained 1.1%, while the Dow Jones fell 0.5%. In the previous session, Thursday, November 5, the S&P 500 fell 4.4% amid a selloff led by shares tied to the construction of AI data centers, the agency said. This divergence provides context for sector share movements over two consecutive days, but does not establish Bloom Energy's relative performance in the November 6 session. The stock's recorded close that day was $173.24, with no reliable public figure confirming its percentage decline.

The deal follows strong results Bloom Energy reported for the third quarter ended September 30, 2026. Revenue was $1,235.8 million, up 138.1% year over year, while gross margin reached 33.8%, an increase of 453 basis points from the comparable quarter. Diluted earnings per share under generally accepted accounting principles were $0.78, compared with a loss of $0.10 in the third quarter of 2025. The company said the results prompted it to raise its 2026 revenue outlook to a range of $4.4–$4.6 billion, representing 122% year-over-year growth at the midpoint. The figures reflect a broadening business and improved profitability alongside expanding demand for data center power.

Bloom Energy's chief executive said demand for reliable electricity began with hyperscale cloud computing companies but is quickly spreading to other business sectors, because "every company needs reliable power to grow." The statement places the NTT DATA agreement within a strategy targeting more than one customer category, according to the company. Initial shipments under the agreement are set to begin in 2027, while NTT DATA said the relationship could scale across its global portfolio to gigawatt scale. These developments come as investors track the potential impact of political restrictions on the pace of data center construction and its power consumption.