Flooding in southern New Mexico reached Oracle and STACK Infrastructure’s Project Jupiter data center campus, but did not damage critical infrastructure. The companies said the project remains on schedule and they are working with insurers to address impacts at the site.
Oracle shares fell approximately 5%. The market reaction appears linked to broader concerns about the large AI-focused project, which has faced regulatory and permitting hurdles. Last week, Oracle issued a force majeure notice to protect itself contractually from potential delays.