Oracle Sends Force Majeure Notice on New Mexico Data Center Project, Stock Drops 7%
Legal·2 articles across 2 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Oracle has sent a notice citing force majeure to Blue Owl Capital regarding its Project Jupiter data center in New Mexico. This move is aimed at delaying payments if the data center does not come online by 2028.
The announcement has caused Oracle's stock to slide by 7%, as investors express concerns over potential setbacks related to this key AI data center project. The company is seeking to shield itself from incurring expenses associated with the delays.
OracleBlue Owl Capital
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Oracle sent a notice citing force majeure to the project's developer, a unit of Blue Owl Capital Inc.”
Bloomberg — Oracle Cites ‘Force Majeure’ to Seek Cover From Data Center Delays“Oracle is reportedly looking to delay payment on Project Jupiter if it the data center fails to come online in 2028”
CNBC — Oracle sends 'force majeure' notice about data center project — stock sinks 7%“Oracle stock slid on a report the tech giant is taking steps to shield itself against delays for a key data center project.”
IBD — Oracle Stock Slides As 'Force Majeure' Report Brings Concern About Key AI Data Center“A recent report noted that Oracle is looking to protect itself from paying some expenses if a high-profile data-center project gets delayed.”
MarketWatch — Oracle's stock is falling as investors fear a data-center setback“Oracle stock sank after it invoked force majeure on its troubled New Mexico AI data center”
quartz — Oracle stock sank after it invoked force majeure on its troubled New Mexico AI data center“Oracle sent a force majeure notice to Blue Owl to delay payments on the 2.45GW Project Jupiter data center in New Mexico if it fails to launch in 2028”
techmeme — Sources: Oracle sent a force majeure notice to Blue Owl to delay payments on the 2.45GW Project Jupiter data center in New Mexico if it fails to launch in 2028 (Bloomberg)
Earlier versions
- Sep 24, 2:09 PM — Oracle Stock Falls 7% After Force Majeure Notice on Data Center Project (4/4)