Oracle shares fell 4% Thursday after Bloomberg reported, citing people familiar with the matter, that the company told Project Jupiter’s developer it was invoking force majeure to delay payments if construction setbacks push the New Mexico data center’s opening to 2028.
The people cited by Bloomberg said Oracle is not seeking to abandon its role as the facility’s primary tenant. An Oracle spokesperson told Bloomberg that Project Jupiter remained on schedule and that the company was fully committed to New Mexico. The developer is a Blue Owl Capital unit; Blue Owl shares fell more than 1% Thursday morning.
Project Jupiter is part of an AI infrastructure build-out unveiled by Oracle, OpenAI and SoftBank last year and is designed to handle 2.45 gigawatts of power. It has faced regulatory setbacks, including the denial of a key permit, and public backlash over power demands and local impacts of large data centers.
