Oracle shares were down 6.5% by 10:15 a.m. ET Thursday as pipeline-permit delays threatened power for its $165 billion Project Jupiter data center in New Mexico. Oracle declared force majeure, seeking relief from payments to Blue Owl if the center isn't completed by 2028.
Energy Transfer needs environmental permits for a 17-mile pipeline that will supply natural gas to Bloom Energy’s on-site fuel cells. Pipeline construction, due to begin in August 2026, has been postponed to February 2027 and may miss that target; Project Jupiter will require 2.45 gigawatts of power. Blue Owl Capital is the project developer.
Project Jupiter was planned as the keystone of Project Stargate, a U.S. effort to build AI capacity announced by President Donald Trump in January 2025 and spearheaded by OpenAI, SoftBank Group and Oracle.
