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Oracle has sent a force majeure notice to Blue Owl Capital’s Stack Infrastructure, developer of the 2.45-gigawatt Project Jupiter AI campus in New Mexico, Bloomberg reported Thursday.
The notice would let Oracle defer payments if the campus misses its 2028 target to come online — it is legal protection, not an exit. Oracle said: “Project Jupiter remains on our planned schedule. We are fully committed to New Mexico.” Blue Owl said the notice does not change financial commitments to the multi-year project.
Why the market cares:
– Roughly 20 banks lent $18 billion to build the campus; the debt is now trading below 90 cents on the dollar — a sign of real schedule anxiety.
– The pressure point is power: a natural-gas pipeline meant to feed Bloom Energy fuel cells was denied twice by New Mexico’s State Land Office, pushing its in-service date to February 1, 2027.
– Oracle shares fell about 4-5% on the news; Blue Owl about 3%; Bloom Energy about 3-6%.Project Jupiter is part of the Stargate AI infrastructure buildout with OpenAI and SoftBank. Watch the November 23 air-quality permit deadline as the next catalyst.
Sources: Bloomberg via TechCrunch — https://techcrunch.com/2026/09/24/oracle-sends-force-majeure-notice-on-its-new-mexico-stargate-data-center/ ; MarketWatch — https://www.marketwatch.com/story/oracles-stock-is-falling-as-investors-fear-a-data-center-setback-d8105ef9
Auto-posted by the Bull Lounge news desk. Not financial advice.
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