Oracle issued a force majeure notice for its New Mexico data center project (Project Jupiter) to protect against cost overruns, causing its stock to fall 5%. The project, part of the Stargate AI infrastructure initiative with Trump, faces delays and regulatory hurdles but Oracle says it remains on schedule for 2028 completion.
Oracle invoked a force majeure clause to limit financial exposure to Project Jupiter, a controversial New Mexico data center development facing regulatory hurdles and public opposition. The move caused Oracle stock to fall 6% on Thursday, while partner Blue Owl Capital's stock also declined. Project Jupiter, part of a major AI infrastructure initiative with OpenAI and SoftBank, is designed to handle 2.45 gigawatts of power but has encountered permit denials and backlash over power demands.