Oracle market cap loses millions as notice sent on data center project ‘surfaces’

Oracle has issued a force majeure notice to postpone payments for its AI data center project, dubbed Project Jupiter, in New Mexico. This decision comes in response to mounting public backlash and regulatory hurdles. Despite Oracle’s assurance that the project remains on track, construction delays could jeopardize its target operational date of 2028. Compounding this, financial strain from large energy demands is raising alarms among institutional debt holders.