Oracle Stock Slides on Report of Notice Citing 'Force Majeure' to Data-Center Developer
By Kelly Cloonan
Shares of Oracle declined after Bloomberg reported the company is attempting to put off payments if a New Mexico data-center project gets derailed or fails to come online in 2028 as planned.
The stock slid 6.9% to $134.66 on Thursday. Shares are now down 31% year to date.
Oracle sent the project's developer, a unit of Blue Owl Capital, a notice citing force majeure, Bloomberg reported, citing people familiar with the situation.
The company is trying to shield itself from accumulating expenses on the data center, known as Project Jupiter, rather than trying to walk away as the site's main tenant, Bloomberg said.
"Project Jupiter remains on our planned schedule," a spokesperson for Oracle said to Bloomberg without commenting on the notice, according to the report. "We are fully committed to New Mexico and confident in our path forward."
A representative for Blue Owl declined to comment to Bloomberg.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
September 24, 2026 10:19 ET (14:19 GMT)
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