Oracle Invokes Force Majeure on $165B Stargate Campus as Delays Mount
ivan_bezdomny · x · 2026-09-25
Per the Financial Times, Oracle sent Blue Owl a force majeure notice seeking the right to defer spending if the 1,400-acre New Mexico campus (Project Jupiter, part of the Stargate buildout with OpenAI) fails to open in 2028. Key facts:
- $165B total project size, $18B in bank loans, 2.45 GW capacity
- Triggered by permitting setbacks involving a key gas pipeline
- Oracle shares fell as much as 5.7%; Bloom Energy also declined though it says the project stays on schedule
- Construction debt recently traded below 90 cents on the dollar; Oracle remains obligated to pay investors even if the site isn't electrified by launch
Oracle says such notices are common at this scale and it remains committed as tenant.
Related event: Oracle Declares Force Majeure on New Mexico Megadata Center, Shares Fall 5%(9 posts)→
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