Oracle Sends Notice Seeking Payment Delay if AI Campus Opens Late, Bloomberg Reports

Oracle has sent a force majeure notice to the developer of Project Jupiter, its New Mexico data center. Bloomberg reports that Oracle is seeking to delay payment if the campus does not come online as expected in 2028. The notice puts the cost of a possible late opening in focus for a project in the Stargate AI infrastructure buildout.

The notice concerns a possible delay

The notice went to a unit of Blue Owl Capital, which is developing Jupiter. CNBC says Oracle sent it to protect itself from higher expenses. Bloomberg’s reported payment objective depends on a future event: the campus failing to open when expected. It does not mean the opening date has moved or that Oracle has already delayed a payment.

Oracle says Jupiter remains on its planned schedule and that it is committed to New Mexico. Its shares fell Thursday following news of the notice. Blue Owl, meanwhile, addressed the developer’s obligations rather than Oracle’s proposed payment timing.

This notice does not change the financial commitments to this multi-year project

Blue Owl Capital, in a statement to CNBC

Why the opening date carries weight

Jupiter has faced regulatory hurdles and local opposition, including concerns from environmental groups. Those challenges sit alongside the work of getting the campus operational. Oracle’s schedule statement is its current assessment, while the notice addresses what it reportedly wants to happen to payments if the target is missed. The distinction matters: preparing for a possible delay is not the same as announcing one.

A financing concern on a different clock

Financing adds another reason to follow Jupiter’s progress. CNBC, citing the Financial Times, reported concerns about $18 billion in Oracle debt tied to the data center, which was already trading at stressed levels. That is an existing financing concern; Blue Owl says the new notice has not changed its commitments to the multi-year project.

On September 10, Oracle co-CEO Clay Magouyrk told analysts that Jupiter would not affect the company’s previously stated fiscal 2027 revenue or earnings guidance. That assurance concerns a fiscal year before the expected 2028 opening. It does not settle what a late opening would mean for payments or costs; those consequences depend on whether the campus misses its target.