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Claire Yubin Oh & David Crowther

Nebius soars on new energy partnership worth up to $2.6 billion with Bloom Energy, and unverified reports about price hikes

Nebius is up 8% in premarket trading on Thursday on a double dose of news flow.

The first is more solid: the AI cloud company announced that it is partnering with Bloom Energy to deploy Bloom’s fuel cell technology to power its AI infrastructure build-out, with their first project expected to deliver 328 megawatts of installed capacity this year.

The second, that Nebius is raising its prices by ~30% for its on-demand (pay as you go) rates for access to its Nvidia GPUs, is unverified, stemming from a tweet from an X user who claims to have been emailed by the company about the price changes.

If true, it goes without saying that a 28% to 30% jump in spot prices to rent H100, H200, B200, or B300 chips is a pretty bullish statement on the continued demand for compute.

Per Nebius’ press release, Bloom’s fuel cell systems will provide on-site, behind-the-meter electricity for the neocloud company to meet demand for Nebius’ full-stack AI cloud platform, initially in the US but with potential for global expansion. In a 6-K filing, Nebius gave more detail, with the power capacity being provided expected to come online in three phases, each with a supply term of 10 years. All told, Nebius will “pay monthly services fees of up to $2.6 billion in the aggregate.”

Through Bloom’s systems, “clean power with virtually no pollutants is deployed onsite, on the timelines our customers need, with the availability AI workloads require,” commented Andrey Korolenko, chief product and infrastructure officer at Nebius. Nebius also noted in the press release that the technology generates electricity without combustion, and therefore tends to face a lighter permitting hurdle than combustion-based systems. Its modular design allows for faster deployment across the board.

The news comes as Nebius and its neocloud peers like CoreWeave and IREN face new competitors like Google and Blackstone’s new AI cloud company in the race to build out AI infrastructure for rent. Shares of Bloom Energy are also up 3% this morning.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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