Oracle Invokes Force Majeure on 2.45-Gigawatt New Mexico Data Center as Shares Fall 4%
Updated
Updated · Yahoo Finance · Sep 24
Oracle Invokes Force Majeure on 2.45-Gigawatt New Mexico Data Center as Shares Fall 4%
3 articles · Updated · Yahoo Finance · Sep 24
Summary
Oracle told a Blue Owl Capital unit it is invoking a force majeure clause on Project Jupiter, seeking to delay payment obligations if the New Mexico data center slips beyond its planned 2028 opening.
Regulatory setbacks and local opposition drove the move, with the 2.45-gigawatt campus already hit by the denial of a key permit amid concerns over power demand and community impact.
Oracle said it is not trying to exit the project and remains the planned primary tenant, with a spokesperson saying Jupiter is still on schedule and the company is committed to New Mexico.
Shares reflected the pressure: Oracle fell 4% on Thursday, while Blue Owl dropped more than 1%, underscoring investor concern over one of the flagship sites in Oracle, OpenAI and SoftBank's AI infrastructure push.