Oracle calls Jupiter one of 30-40 data centres in the works
Oracle is brushing off the growing worries around Project Jupiter, its $165 billion AI data centre campus in New Mexico. ” He also played down the project’s weight, calling it just one of the 30 to 40 data centre projects Oracle has in development each quarter. The notice preserves Oracle’s right to delay rent by up to three years if power problems keep the campus from opening on time in 2028. The roughly $18 billion construction loan behind the site has since traded at stressed levels, and Oracle shares are down more than 30% this year. Located near Santa Teresa in Doña Ana County, the 1,400-acre campus is one of the flagship Stargate sites being built for OpenAI. Oracle moved to fuel cells from gas turbines in April, a switch it says cuts nitrogen oxide emissions by about 92%.
Because i think we’re building global infrastructure, speaking at Oracle AI World in Las Vegas on October 27, Mahesh Thiagarajan, Oracle’s president of Cloud Infrastructure, said, “We’re actually not too worried about what we’re doing.
Thiagarajan had told county commissioners in July that the campus could turn to the grid if the permit doesn’t come through. The calm comes at a tense moment. Last month, Oracle sent a force majeure notice to a unit of Blue Owl Capital, which owns the project’s developer, STACK Infrastructure. The buildings are going up. The power to run them is yet to be cleared. Oracle maintains the project is on schedule and has called force majeure notices commonplace for developments of this size. Thiagarajan’s comments came on the same day Oracle expanded its collaboration with OpenAI, bringing ChatGPT and Codex into its applications.