What happened: Oracle (ORCL) stock fell 4% on Thursday. What's behind the move: Oracle is taking steps to limit its financial exposure to a massive data center planned for New Mexico as the project faces opposition and regulatory hurdles, according to a Bloomberg report. The company has notified the project's developer, a unit of Blue Owl Capital (OWL), that it is invoking a force majeure provision, according to people familiar with the matter. Shares of Blue Owl Capital fell more than 1% on Thursday morning. What else you need to know: According to the report, Oracle is not seeking to abandon its role as the facility's primary tenant.
We show the main point publicly. Create a free account to continue reading the full article, save it, discuss it, and connect it with market and OSINT context.