Why it matters
The strategic read
Turns Nebius’s AI-cloud expansion into a named behind-the-meter power contract with hard megawatt and dollar figures. Bloom gets another large AI data-center power lane, while Nebius reduces grid-interconnection timing risk by replacing combustion-based onsite generation with modular fuel cells.
Source-supported terms
What was disclosed
- 01
Nebius disclosed that wholly owned subsidiary Nebius Inc. entered into a Master Fuel Cell Capacity Agreement and related system orders with Bloom Energy on May 14, 2026.
- 02
Bloom will install, operate and maintain the power supply systems while Nebius purchases capacity and associated electricity generated by those systems.
- 03
The capacity is expected to come online in three phases, each with a 10-year supply term.
- 04
The agreement provides approximately 250 MW of guaranteed capacity and approximately 328 MW of installed system capacity in aggregate.
- 05
Nebius will pay monthly service fees of up to $2.6B in aggregate over the term, subject to commencement conditions.
- 06
Nebius’s company release says the deployment supports AI infrastructure buildout and replaces previously planned combustion-based technology at its first U.S. site.
Disclosure boundary
What is known—and what is not
SEC filing summary plus company announcement; full master agreement, phase schedule, site allocation, exact monthly fee schedule, performance guarantees, gas supply terms, and expansion mechanics are not public.