Blue Owl Capital (OWL) shares fell approximately 4% after Oracle issued a force majeure notice for a New Mexico data center project. Known as Project Jupiter, the development is managed by Blue Owl unit Stack Infrastructure.
The legal notice allows Oracle to potentially defer payments if the project misses its 2028 operational deadline. This decline continues a significant downward trend for Blue Owl stock over the past year.
Investors expressed concern regarding $18 billion in project-related debt currently trading at stressed levels. Both companies stated that the project remains on schedule and financial commitments are unchanged.