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Oracle's New Mexico data center lease has "hell-or-high-water" terms, so it can't be terminated and $ORCL must pay rent whether or not the site has power, the WSJ reports.
Oracle Still On The Hook To Pay Data Center Investors Despite Force Majeure Declaration
Oracle, Blue Owl project delay sends ripples through AI financing, sources say
ORACLE: FORCE-MAJEURE NOTICES ARE COMMONPLACE IN DEVELOPMENTS OF THIS SCALE AND ARE OFTEN USED TO PRESERVE CONTRACTUAL RIGHTS AMONG PROJECT PARTNERS
Oracle is moving to shield itself from racking up expenses on a massive data center being built in New Mexico, adding a fresh wrinkle to a project beset by opposition and regulatory setbacks.
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Oracle's Massive "Project Jupiter" Data Center Declares Force Majeure, Jeopardizing Entire US AI Rollout
ORACLE SHARES FALL 5.7% TO LOWEST SINCE AUG. 3
ORACLE SHARES DOWN 5.1% AFTER REPORT CO SENDS 'FORCE MAJEURE' NOTICE TO NEW MEXICO DATA CENTER DEVELOPER
Oracle’s stock is falling as investors fear a data-center setback
ORACLE $ORCL IS TRYING TO PROTECT ITSELF FROM PAYING FOR A DATA CENTER THAT HASN'T EVEN BEEN BUILT YET
Oracle sent developer Blue Owl Capital a force majeure notice on Project Jupiter, its massive New Mexico data center
Oracle isn't trying to walk away as the site's main tenant, it's trying to delay payments if the project misses its planned 2028 online date
The project has faced local opposition and regulatory setbacks. It's not clear whether the maneuver would actually free Oracle from its previously agreed financial obligations - Bloomberg
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