- Oracle shares fell 4% after Bloomberg reported the company sent a "force majeure" notice to the developer of its New Mexico data center project, protecting itself from higher expenses.
- Oracle is seeking to delay payment on the campus, dubbed Project Jupiter, if it does not come online as expected in 2028.
- The notice went to a developer unit of Blue Owl Capital, whose shares also fell.
- Project Jupiter is part of the broader Stargate AI infrastructure buildout and has been riddled with setbacks and regulatory hurdles, including local opposition to data centers ahead of the midterm elections.
Quotes
“Oracle shares fell 4% on Thursday following a report that the company sent a "force majeure" notice tied to its New Mexico data center project to protect itself from higher expenses.”
“The company is looking to delay payment on the campus, dubbed Project Jupiter, if it doesn't come online as expected in 2028, according to the report.”
“Oracle sent the notice to the developer, which is a unit of Blue Owl Capital, which also saw its shares fall.”