Oracle Cites ‘Force Majeure’ to Shield Itself on Data Center, Bloomberg News Reports
Oracle wants the right to delay payments if Project Jupiter misses its 2028 opening after pipeline delays raised cost concerns, Bloomberg News reported.
- On Thursday, Oracle sent a "force majeure" notice to developer Blue Owl Capital regarding Project Jupiter, its 1,400-acre AI data center in New Mexico, causing shares to fall around 4 per cent in premarket trading.
- The New Mexico State Land Office twice rejected pipeline rights-of-way, with Land Commissioner Stephanie Garcia Richard citing emissions and resource strain; Energy Transfer subsequently rerouted the 17.8-mile pipeline across federal land.
- Project Jupiter supports the Stargate programme to build computing power for OpenAI, potentially costing up to $165 billion; Oracle seeks to delay payments if the campus fails to open in 2028 as planned.
- Oracle claimed as recently as August that Project Jupiter remained on schedule, yet the notice provides coverage if timelines shift; the pipeline's start date has been pushed to February.
- Designed to run 2.5 gigawatts of Bloom Energy fuel cells, the facility's success depends on whether the revised pipeline route secures approval to meet the 2028 operational deadline.
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Watch Oracle Cites ‘Force Majeure’ to Seek Cover From Data Center Delays
Oracle sent a notice citing force majeure to the project's developer, a unit of Blue Owl Capital Inc., regarding a massive data center being built in New Mexico. Sridhar Natarajan reports on "Bloomberg Open Interest."
Oracle Declares Force Majeure on $165 Billion Project Jupiter Data Center
At $138.26, Oracle (NYSE:ORCL) is a Hold. Bloomberg News reported that Oracle sent a force majeure notice to Blue Owl tied to Project Jupiter, the $165 billion New Mexico data center anchoring the Stargate AI announcement alongside OpenAI and SoftBank, and shares slid roughly 4% in premarket trading. Oracle sells database, cloud infrastructure, and enterprise […]
Oracle cites force majeure on Project Jupiter data centre
Oracle has sent a force majeure notice over Project Jupiter, a huge AI data centre being built in New Mexico, Bloomberg reported on Thursday, citing people familiar with the matter. The notice went to the project’s developer, a unit of investment firm Blue Owl Capital. Companies usually cite force majeure to escape contract duties when events […] This story continues at The Next Web
Oracle cites ‘force majeure’ to shield itself on controversial data center, Bloomberg News reports
Sept 24 (Reuters) - Oracle is seeking to protect itself from potential cost increases related to a large data center project in New Mexico by sending a "force majeure" notice to the developer, Bloomberg News reported on Thursday, citing sou...
Oracle cites ‘force majeure’ to shield itself on data center, Bloomberg News reports
Sept 24 : Oracle is seeking to protect itself from potential cost increases related to a large data center project in New Mexico by sending a "force majeure" notice to developer Blue Owl, Bloomberg News reported on Thursday.Shares of the company fell around 4 per cent in premarket trading after the report, wh
Oracle shares drop on report it sent 'force majeure' notice about data center project
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