Oracle's $18B New Mexico Project Jupiter Mired in Financial Woes
Oracle's massive Project Jupiter in New Mexico is reportedly being mothballed due to financial pressures. The $18 billion syndicated loan for the project, which was designed to house four data center buildings powered by Bloom Energy's solid-oxide fuel cells, is trading at a steep discount of 89-91 cents on the dollar.
The campus had reached only 26% completion by early September 2026, despite construction beginning in September 2025. Oracle's credit rating was downgraded to BBB- in July 2026, which sent the project's loan facility sliding into a discount.
The financial struggles of Project Jupiter have been compounded by legal battles and local opposition. Environmental groups challenged permits and dragged the project through regulatory bottlenecks, slowing construction timelines.