Shares of Bloom Energy Corp. soared 27%, the biggest gain in almost a year, after Brookfield Corp. agreed to invest up to $5 billion to deploy the company’s fuel cells at new data centers that operate artificial intelligence.

The investment firm and the energy-storage company are collaborating on AI data centers globally, including a site in Europe that will be announced before the end of the year, according to a statement on Monday.

The companies said factories are needed to meet “the growing compute and power demands” of AI.

The deal creates multiple benefits for San Jose-based Bloom beyond the validation of its technology for AI, Oppenheimer analysts wrote in a note, including higher sales.

The concentration of Bloom units will provide service efficiencies, while Brookfield can help

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