Bloom Energy Stock Slumps 7% Amid Oracle Project Jupiter Pipeline Delay
Bloom Energy stock plummeted by approximately 7% on Thursday following Oracle's force majeure notice tied to Project Jupiter, a large AI data center under construction in New Mexico.
The pipeline needed to power the site has been delayed from an August 2026 target to February 2027 due to right-of-way approval issues. This delay poses a significant problem for Bloom Energy as its fuel cells depend on the natural gas supply to run, and any holdup in construction timing pushes back when Bloom's equipment can start generating revenue.
Bloom's drop also came after its official addition to the S&P 500, which triggered a 'sell the news' reaction. The company is currently facing scrutiny over its reliance on Chinese scandium, with a securities class action lawsuit against it having a lead-plaintiff deadline of September 28.