Oracle invokes 'force majeure' clause to seek exemption for New Mexico data center project

BlockBeats news, September 24: Bloomberg, citing people familiar with the matter, reported that Oracle is issuing a "force majeure" notice to the developer of its large data center project in New Mexico. The project developer is a subsidiary of Blue Owl Capital. Oracle is not seeking to exit as the primary tenant, but rather wants to defer related payment obligations if the data center, codenamed "Project Jupiter," is shelved and cannot go live as planned in 2028, in order to avoid continuously accruing costs. This move adds a new variable to a project already facing opposition and regulatory setbacks.

According to BIT (bit.com) market data, Oracle (ORCL) fell more than 5% in pre-market trading.