Oracle Cites ‘Force Majeure’ to Shield Itself on Controversial Data Center - bloomberg.com — SkimNews
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- Oracle cited 'force majeure' to shield itself from costs on a controversial data center project, a legal mechanism typically reserved for unforeseeable events
- Oracle stock dropped as the company moved to shield itself from the controversial data center costs, while $18 billion in data centre debt came under strain amid local pushback
Why it matters: Oracle's invocation of force majeure — a clause normally triggered by events like natural disasters — on an $18 billion data center project signals a serious rift with local stakeholders and exposes the project's financing to execution risk as $18bn in debt faces pushback.
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