Oracle's Project Jupiter force majeure: the risk was in the annual report three months earlier
julsimon · x · 2026-09-29
A reshare by julsimon linking to his full piece: Oracle sent a force majeure notice on Sept 24 over power at Project Jupiter (2.45GW Stargate campus, New Mexico), with its 30-year spread widening from +122bp to +180bp and an S&P downgrade to BBB-. Pipeline approvals, the fuel-cell pivot, and the annual report's risk disclosure all preceded the notice, and $288bn of not-yet-commenced data-center leases remain on the books.
Related event: Oracle's New Mexico Stargate Campus Hit by Power-Related Force Majeure(2 posts)→
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