Oracle sends 'force majeure' notice about data center project — stock sinks 7%

Skip Navigation LIVEAn Inside Wealth discussion on longevity with Private Medical founder cnbc.com Oracle shares drop on report it sent ‘force majeure’ notice about data center project Livestream CREATE FREE ACCOUNT Markets Pre-Markets U.S. Markets Currencies Prediction Markets Cryptocurrency Futures & Commodities Bonds Funds & ETFs Business Economy Finance Health & Science Media Real Estate Energy Climate Transportation Investigations Industrials Retail Wealth Sports Life Small Business Investing Personal Finance Fintech Financial Advisors Options Action ETF Street Buffett Archive Earnings Trader Talk Tech Cybersecurity AI Enterprise Internet Media Mobile Social Media CNBC Disruptor 50 Tech Guide Politics & Policy White House Policy Defense Congress Expanding Opportunity Video Latest Video Full Episodes Livestream Live Audio Live TV Schedule CNBC Podcasts CEO Interviews CNBC Documentaries Digital Originals Watchlist Investing Club Trust Portfolio Analysis Trade Alerts Meeting Videos Homestretch Jim’s Columns Education Subscribe PRO Pro News Josh Brown Mike Santoli Calls of the Day My Portfolio Livestream Full Episodes Stock Screener Market Forecast Options Investing Chart Investing Subscribe Livestream Menu Make It select USA INTL Livestream Search quotes, news & videos Livestream Watchlist SIGN IN Create free account Oracle shares drop on report it sent ‘force majeure’ notice about data center project Livestream CREATE FREE ACCOUNT Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Tech Oracle shares drop on report it sent ‘force majeure’ notice about data center project Published Thu, Sep 24 2026 8:48 AM EDT Updated 13 Min Ago Samantha Subin@samantha_subin WATCH LIVE Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email Key Points Oracle reportedly sent a “force majeure” notice to the developer of its data center project in New Mexico. Oracle is looking to delay payment if the project doesn’t come online in 2028, according to Bloomberg. The datacenter, dubbed Project Jupiter, has faced regulatory hurdles and local opposition. In this article OWL-0.45 (-4.64%) ORCL-10.46 (-7.24%) Follow your favorite stocks CREATE FREE ACCOUNT A trader works as a screen shows the logo and trading information for Oracle on the floor at the New York Stock Exchange, March 9, 2026. Brendan McDermid | Reuters Oracle shares fell 4% on Thursday following a report that the company sent a “force majeure” notice tied to its New Mexico data center project to protect itself from higher expenses. Bloomberg reported the news, citing sources familiar with the matter. “Project Jupiter remains on our planned schedule,” an Oracle said in a statement to CNBC. “We are fully committed to New Mexico and confident in our path forward.” The company is looking to delay payment on the campus, dubbed Project Jupiter, if it doesn’t come online as expected in 2028, according to the report. Oracle sent the notice to the developer, which is a unit of Blue Owl Capital. The company also saw its shares fall on Thursday. “This notice does not change the financial commitments to this multi-year project,” Blue Owl Capital said in a statement to CNBC. The New Mexico data center project, which is part of the broader Stargate artificial intelligence infrastructure buildout with President Donald Trump, has been riddled with setbacks and regulatory hurdles. That includes local opposition to data centers ahead of the upcoming midterm elections and concerns from environmental groups. Concerns have also mounted over Oracle’s $18 billion in debt tied to the datacenter, which is already trading at stressed levels, according to the Financial Times. — CNBC’s Seema Mody and Leslie Picker contributed reporting Read more CNBC tech news Qualcomm releases Android chip built for AI as memory shortage weighs on smartphone market Anthropic and OpenAI roll out cheaper models in first release since call for slowdown Texas Gov. Abbott orders data center permit halt weeks after issuing moratorium Meta’s Muse AI agent downloads are surging. Here’s how it compares to ChatGPT, Grok and Claude Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. WATCH LIVESTREAMPrefer to Listen? 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