SoftBank Shares Drop 3.1% as Oracle Flags Delay Risk at $500 Billion Stargate Project
Updated
Updated · Yahoo Finance · Sep 25
SoftBank Shares Drop 3.1% as Oracle Flags Delay Risk at $500 Billion Stargate Project
3 articles · Updated · Yahoo Finance · Sep 25
Summary
SoftBank fell 3.1% to 6,154 yen after Oracle sent a force-majeure notice tied to potential delays at Project Jupiter, a New Mexico data-center campus within the Stargate AI buildout.
Oracle moved to shield itself from payment obligations if the site cannot secure enough power and misses its planned 2028 launch, sharpening doubts about whether AI infrastructure can be delivered on schedule.
Those concerns land as SoftBank leans harder on debt to fund its AI push: it raised $11.1 billion in dollar- and euro-bonds this week, partly to finance its OpenAI investment.
Credit markets are already turning more selective on AI debt, with spreads on AI-linked bonds at about 115 basis points versus 78 for the broader market.
The setback underscores a wider constraint on the sector's $500 billion-plus ambitions, as power, construction and financing bottlenecks threaten long-dated data-center pipelines.