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Bloom Energy announced a power capacity agreement with Intel to install the largest fuel cell-powered high-performance computing data center in Silicon Valley. This agreement will see the deployment of additional megawatts of Bloom Energy's fuel cell-based Energy Server at Intel's existing data center location. The installation will make it the largest fuel cell-powered data center in Silicon Valley, offering a reliable power solution for energy-intensive data centers. Bloom Energy's technology can operate in a fully islanded microgrid mode, providing a sustainable energy solution.
Bloom Energy (NYSE: BE) reported revenue of $235.3 million for the first quarter of 2024, showing a 14.5% decrease compared to the same period in 2023. The company's gross margin decreased by 3.5 percentage points, while operating loss improved by $14.7 million. Non-GAAP operating loss decreased by $3.4 million. Bloom Energy's CEO expressed optimism about market interest and commercial activity across various sectors, highlighting AI hardware supply chain industries. The company reaffirmed its outlook for full-year 2024, expecting revenue of $1.4 - $1.6 billion, a non-GAAP gross margin of around 28%, and non-GAAP operating income of $75 - $100 million.
Bloom Energy (NYSE: BE) has partnered with Quanta Computer Inc. to provide a clean and reliable power solution for Quanta's manufacturing expansion in Fremont, CA. The partnership showcases Bloom Energy's capability to meet the time-to-power challenges of the AI sector, offering a fully islanded microgrid powered by fuel cell technology. This innovative solution helps Quanta Computer maintain its competitive edge in Silicon Valley by circumventing traditional utility constraints.
