Subject: Re: Brookfield /Bloom Energy Partnership
Bloom Energy (BE) just reported 3 Q earnings. Stock was up 20% after hours.

https://investor.bloomenergy.c...

During the earnings call, Bloom CEO spoke to the Brookfield partnership.

"...Large infrastructure funds are increasingly developing their own AI factories. Brookfield, the world's largest AI infrastructure investor has invested $50 billion in AI opportunities and is tripling the size of its AI strategy over the next 3 years. It announced an AI infrastructure partnership with Bloom Energy and made an initial investment of $5 billion.

Bloom will be the preferred on-site provider for Brookfield's trillion-dollar infrastructure portfolio of AI factories, data center operators, corporate facilities and factories. Brookfield will also finance Bloom-sourced AI opportunities. We have already completed projects and Brookfield plans to announce a Bloom-powered European AI inference data center project by the end of the year.
...
Christopher Dendrinos
RBC Capital Markets, Research Division

Congratulations on the strong quarter. I wanted to follow up on the Brookfield partnership here. And I'm hoping you could just expand a little bit on the relationship and provide some more details around the potential development time line? And then just how should we think about this partnership financially and how that benefits you?

K. Sridhar
Co-Founder, CEO & Chairman

Chris, thank you so much. Brookfield, look, they're an incredible partner to Bloom, right? I mean they are at the heart of the AI value chain. And I think I mentioned this in the script, they've already invested over $50 billion in AI and want to triple that very quickly in the next 2 to 3 years.

But put that in a broader context. They're one of the world's largest infrastructure owners with over $1 trillion in assets that comprise of 140 data centers operating and using approximately 1 gigawatt of critical load capacity and wanting to accelerate and grow that enormously in AI.

On top of that, they have a portfolio of factories. They have a portfolio of commercial offices and real estate that are all going to be beneficiaries of AI. And as they automate, as they bring robots in, those factories are going to need more power.

So Brookfield is using their balance sheet and using their relationship with us as the power provider and making us the preferred choice that they would recommend to all their portfolio companies, including their data centers.

On top of that, Brookfield believes that they themselves are going to be a large AI infrastructure developer. And there, they're going to use us. On top of that, if there are Bloom-sourced deals that require financing, so we can offer a customer a PPA, they are willing to step in and be the financier for that. This is all not -- and they have made it very clear that this $5 billion investment is an inaugural investment.

Now what Brookfield -- with Brookfield, we have already done some deals together. And they have said that they will announce a European AI inference data center before the end of the year using Bloom as the power source, so stay tuned for that. So it's a very big relationship. I cannot understate how important it is to us."

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