Overview
- The force majeure notice, dated Sept. 24, 2026, was sent by Oracle to the developer unit of Blue Owl/Stack to delay payment milestones if the 2.45‑gigawatt Project Jupiter campus cannot come online in 2028.
- Oracle cited power‑supply problems tied to a 17‑mile Energy Transfer natural‑gas pipeline and pending air and water permits for on‑site Bloom Energy fuel cells as the reason for the filing.
- Both Oracle and Blue Owl issued statements saying the notice does not change their long‑term commitments or the project timeline even as markets pushed Oracle, Blue Owl and Bloom Energy shares lower.
- Roughly $18 billion of construction loans and about $3 billion of sponsor equity back the campus and parts of that debt are trading below par, prompting lenders and investors to recheck contract terms and risk allocation.
- The dispute underscores how permit battles and power bottlenecks can stall megascale AI builds and could make banks demand clearer protections in future AI data center financings while local communities face long runs of construction and utility impact.