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Business

Oracle invokes force majeure on $165bn Project Jupiter data centre

Oracle has sent a force-majeure notice to the developer of its $165bn Project Jupiter AI data centre in New Mexico, seeking to delay payments if the campus misses its 2028 target.

By James Calloway · · 1 min read

Oracle has sent a force-majeure notice to the developer of its Project Jupiter data centre campus in New Mexico, a unit of Blue Owl Capital, Bloomberg News reported on 24 September, citing people familiar with the situation. The notice reportedly seeks to protect Oracle from payment obligations if the campus is not completed by 2028 — delaying payments rather than exiting as the main tenant. The report was summarised by Reuters and published by Dow Jones Newswires via Morningstar.

An Oracle spokesperson told Bloomberg that “Project Jupiter remains on our planned schedule” and that “We are fully committed to New Mexico and confident in our path forward.” The company did not comment on the notice. A representative for Blue Owl Capital declined to comment.

The notice follows permitting delays. Construction of a 17-mile natural-gas pipeline to feed the campus was postponed from August 2026 to February 2027 over environmental permit trouble, The Motley Fool reported; the New Mexico Environment Department has yet to rule on an air-quality permit, and the hearing officer recused himself in August.

Oracle shares sank nearly 5% in Thursday morning trading, according to The Motley Fool’s midday report; estimates through the day put the decline at roughly 4–7%. Bloom Energy shares also fell.

Project Jupiter is a $165 billion AI data-centre campus in the New Mexican desert needing 2.45 gigawatts of power, and a keystone of Project Stargate — the AI infrastructure effort announced by President Trump in January 2025, spearheaded by OpenAI, SoftBank Group and Oracle. Force majeure provisions are generally used to suspend or modify contractual obligations when unforeseen circumstances prevent a party from fulfilling an agreement.

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