Oracle Stock Slides on Report of Notice Citing 'Force Majeure' to Data-Center Developer

Oracle’s shares fell after Bloomberg reported the company issued a notice to the developer of a New Mexico data-center project citing “force majeure,” according to people familiar with the situation. The stock dropped 6.9% to $134.66 on Thursday and is down 31% year to date. Bloomberg said Oracle is trying to avoid accumulating expenses on the facility, called Project Jupiter, rather than withdrawing as the site’s main tenant. Oracle spokesperson statements cited by Bloomberg said the project remains on schedule for 2028 and that the company is committed to New Mexico. The project developer is a unit of Blue Owl Capital, and its representative declined to comment.