Project
A 2.45 gigawatt Oracle data centre in Doña Ana County, New Mexico, described as a centrepiece of Oracle's $300bn computing deal with OpenAI.
Oracle asked FERC on Oct. 13 to speed the 17.8-mile Green Chile gas pipeline, now due February 1, 2027 against a plan of August 15, 2026. The 170-day slip feeds a campus planning 2.45 to 2.5 GW, and the trucked-gas fallback could cost four times as much.
Reality
Oracle is trucking compressed gas to AI data centers with late pipelines and weighing the same fix for its 2.45 GW Project Jupiter, Bloomberg reported. One analyst puts trucked gas at about four times the cost of pipeline supply, though at Jupiter's scale the number of trailers an hour is the tighter limit.
Reality
Oracle issued a force majeure notice on Blue Owl's Jupiter campus, whose reported $18bn of bank loans already trade below 90 cents on the dollar. Lenders who priced Oracle's credit now also have to price who pays when the power arrives late.
Perspective Coverage
12 publishersReality
Oracle sent Project Jupiter's developer a force majeure notice that lets it delay payments if the New Mexico campus misses its 2028 target. The site's gas pipeline and air permit are both still pending, so capacity plans built on that date need a fallback.
Perspective Coverage
6 publishersReality
Ten-year Treasury yields near 5.17%, the highest since 2007, raise the cost of the $4.1 trillion in AI debt JPMorgan expects through 2030. Oracle fell 7% this week as CoreWeave rose almost 8%, a split that follows Oracle's campus news more than rate exposure.
Reality
Oracle shares fell more than 6% on Thursday after it sent a force majeure notice to Blue Owl over Project Jupiter, its New Mexico AI data center. The notice protects Oracle's cash if the site runs late and makes its 2028 date the one lenders and investors now watch.
Perspective Coverage
3 publishersReality
A loan quoted below par is the only continuously updated figure anyone has on Oracle's quarter-built New Mexico AI campus, and whether it prices the buildings or the tenant's rating decides how much a stall report matters.
Reality
Oracle invoked force majeure on Project Jupiter, a New Mexico AI campus for OpenAI now expected to run about a year late. The delay postpones the higher post-completion return on Blue Owl's roughly $3 billion of equity.
Reality
The extraordinary-relief route two environmental groups chose bought them about a month of paused proceedings at New Mexico's air and water agencies, and it ends with the air permit still undecided before a hearing officer the state has yet to name.
Reality
Michigan's package is $16.3bn anchored by PIMCO, Texas and Wisconsin about $38bn, New Mexico $18bn. Against a target of up to 10 gigawatts, the named money works out at roughly $7.2bn per gigawatt. The suppliers bill on megawatts energised.
Reality
The RFP takes solar, wind or geothermal and scores bids on delivery timing and project maturity. That ranking tells you Project Jupiter needs matched megawatt-hours by a date more than it needs a preferred fuel.
Reality
Oracle, Meta, Google, Amazon and Microsoft plan more than $700bn of US data centers this year, roughly $58bn a month, and against that run rate a repealed state tax break costs less than two quarters of permitting delay.
Reality
Farmers and the Sierra Club packed a firehouse in a village of 275. The county then paused data center development for a year, and no acreage premium undoes that.
Reality
Local opposition stalled at least 75 projects worth about $130bn in three months, according to Bloomberg. That belongs in the capacity plan, not the comms plan.
Reality