Bloom Energy (BE) shares surged over 51% in its New York Stock Exchange debut Wednesday, as the company aims to reduce electricity costs for data centers, the infrastructure behind the cloud.

"If you take a data center, electricity is one of the largest expenditures," said KR Sridhar, Bloom Energy's CEO, adding that the company's fuel cell technology helps reduce electricity costs

Sridhar thinks the cloud industry's growth is in its early innings. 

The companies clients include AT&T (T) , Walmart (WMT) and Equinix (EQIX) , among others. 

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