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Oracle issues force majeure, seeks lease payment deferment

By Drooid · Sep 24, 2026, 6:17 PM UTC · How we work

Summary

Oracle Issues Force-Majeure

Oracle Corp. sent a force-majeure notice to Blue Owl’s Stack Infrastructure for Project Jupiter.
Oracle seeks to defer lease payments if the project does not start operations by 2028.
Oracle stock fell about 5%, and shares of Blue Owl and Bloom Energy also dropped.
Project Jupiter is financed by an $18 billion loan from roughly 20 banks, trading at 89-91 cents.

Summary

Heinrich Blocks Bill

U.S. House approved the Ratepayer Protection Act 417-3 to shield residential customers from data-center grid costs.
Senator Martin Heinrich blocked Senate unanimous consent, halting the bill amid disagreement with Senator Jon Husted.
Governor Greg Abbott ordered a pause on new data-center permits on September 21, citing grid and water strain.
ERCOT is reviewing data-center grid connections and the Texas Water Development Board is assessing water impacts.

History

Historical Context

Texas’s isolated grid, deregulated since the 1990s, failed during the February 2021 winter storm when ERCOT could not meet a record 69,692 MW demand, leaving over 4.5 million homes without power and prompting Governor Greg Abbott to call emergency reforms. Those lessons now shape the Oracle-Blue Owl Project Jupiter delay and new data-center safeguards lawmakers are imposing.

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Oracle Issues Force-Majeure

Oracle Corp. sent a force-majeure notice to Blue Owl’s Stack Infrastructure for Project Jupiter.
Oracle seeks to defer lease payments if the project does not start operations by 2028.
Oracle stock fell about 5%, and shares of Blue Owl and Bloom Energy also dropped.
Project Jupiter is financed by an $18 billion loan from roughly 20 banks, trading at 89-91 cents.

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