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Oracle Invokes Force Majeure on New Mexico Data Center Project
Oracle Corporation has invoked force majeure on its Project Jupiter, a significant data center initiative located in New Mexico, United States. This decision is aimed at safeguarding the company from financial liabilities in the event of delays caused by regulatory and infrastructure challenges that could push the completion of the 2.45 gigawatt facility beyond the year 2028.
The Project Jupiter data center is part of Oracle's broader Stargate AI expansion and is supported by an $18 billion loan. However, related debt instruments have recently been trading below 90 cents on the dollar, indicating potential concerns among investors regarding the project's viability and timeline.
Source: KLEA News