π Oracle loses cash over New Mexico AI data center drama
Oracle has taken legal action to protect itself from mounting costs on a huge AI data center in southern New Mexico. The enterprise technology giant sent a formal notice citing force majeure to the developer, Blue Owl Capital. Oracle's shares dropped 4%, wiping out millions from its market cap following this announcement. The company isn't abandoning the project but aims to delay payments if the facility misses its 2028 target. This move comes as the Stargate project faces massive energy and financing hurdles. π