The 2028 launch of a massive compute campus in the Southwest is now subject to revised financial terms after Oracle issued a force majeure notice to developer Blue Owl Capital. The 2.45GW Project Jupiter site, part of the broader Stargate AI buildout, has faced permitting hurdles including a six month delay for a critical gas pipeline and disputes over water rights. This maneuver seeks to shield the company from rising expenses if the facility misses its opening date, while associated construction debt of $18B is already trading below 90 cents on the dollar.

Oracle maintains that the project is on schedule and characterizes the notice as a standard step to preserve contractual rights in large-scale developments. The news triggered a decline of around 5% in Oracle shares and weighed on Bloom Energy, which is providing 2.5GW of fuel cell capacity for the $165B project. Local opposition in Doña Ana County has increased scrutiny over environmental impacts while New Mexico state officials draft new regulations for the data center industry.