Oracle sends a Blue Owl unit a force majeure notice on its Project Jupiter data-centre campus in New Mexico, Bloomberg reports
The notice would let Oracle defer rent if the 2.45GW campus misses its 2028 opening. Oracle says the project remains on schedule.
Oracle has sent a force majeure notice over Project Jupiter, a Stargate data-centre campus in New Mexico, to a unit of Blue Owl Capital, the project's developer, Bloomberg reported on 24 September, citing people familiar with the matter, according to The Next Web and Mobile World Live. Bloomberg's own story is paywalled and was not opened here.
The Next Web said “Oracle wants the right to delay payments if the campus fails to open in 2028 as planned”. It added that Oracle, the main tenant, is not seeking the right to walk away. If both sides agree that a force majeure event linked to power has occurred, Oracle could defer rent for three years once payments begin, Bloomberg reported, according to Mobile World Live and the Free Press Journal.
The campus is designed for about 2.45GW, Mobile World Live and the Free Press Journal reported. The pressure point is power: New Mexico officials have twice rejected a permit for a natural-gas pipeline meant to supply the site, Mobile World Live reported.
Oracle's spokesperson said such notices are common in large developments, the Free Press Journal reported; The Next Web noted that Oracle had said in August that the project remained on schedule. Blue Owl said the notice does not alter its financial commitments to the project, Mobile World Live reported.
A force majeure notice is a contractual step, not a cancellation. It shows how power supply, rather than chips, is becoming the constraint on the largest AI data-centre projects.
- Reported Oracle sent a force majeure notice to a Blue Owl unit over Project Jupiter, Bloomberg reported, according to The Next Web. The Next Web
- Reported Oracle could defer rent for three years after payments begin, Bloomberg reported, according to Mobile World Live and the Free Press Journal. Mobile World Live
- Claimed Oracle's spokesperson says force majeure notices are common in large developments, and Blue Owl says its financial commitments are unchanged, the Free Press Journal reported. Free Press Journal
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