Bulletin · BBC Stocks
A trader works as a screen shows the logo and trading information for Oracle on the floor at the New York Stock Exchange, March 9, 2026. Brendan McDermid | Reuters 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. Bloomberg reported the news, citing sources familiar with the matter.
"Project Jupiter remains on our planned schedule," an Oracle said in a statement to CNBC. "We are fully committed to New Mexico and confident in our path forward." 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.
The company also saw its shares fall on Thursday. "This notice does not change the financial commitments to this multi-year project," Blue Owl Capital said in a statement to CNBC. The New Mexico data center project, which is part of the broader Stargate artificial intelligence infrastructure buildout with President Donald Trump, has been riddled with setbacks and regulatory hurdles.
That includes local opposition to data centers ahead of the upcoming midterm elections and concerns from environmental groups. Concerns have also mounted over Oracle's $18 billion in debt tied to the datacenter, which is already trading at stressed levels, according to reports.
Source: CNBC
