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Oracle Cites ‘Force Majeure’ to Shield Itself on Controversial Data Center
https://www.bloomberg.com/news/articles/2026-09-24/oracle-cites-force-majeure-to-shield-itself-on-controversial-data-center
https://finance.yahoo.com/technology/ai/articles/oracles-ai-bet-just-sent-202854124.html
i can here Ed Zitron from here: IS THIS GOOD??
@davidgerard Thanks. I looked at that too but somehow didn't see the bit where it mentioned the force majeure thing directly. But it was a migraine day...
I made a submission to the federal enquiry in which I say it is all going to be a horrible bubble that's going to pop. I hope to get it up on my blog before this happens. I better get a move on.
Yeah, I just ran across Bloomberg reporting this a few minutes ago.
Pop goes the weasel
@davidgerard Declaring Force Majeure for withholding payments this early is massive on a construction project. All of the sudden, EVERYONE is going to pull back on delivering and doing everything for fear of being out of pocket, or they damned well should if they’re smart.
@davidgerard Welp, the project appears to be broke. Banks put in $18B already, but can’t sell the debt, leaving ol’ Larry searching the couch cushions for <carries the one> $282B. https://www.ft.com/content/bd441859-6c94-4874-894f-9362c1703127?syn-25a6b1a6=1
> The debt tied to the development is already trading at stressed levels, below 90 cents on the dollar, according to a person with knowledge of the matter.
AAAAAAAAAAAAAAAHAHAHAHAHA
@davidgerard Yup. Just posted the FT article. Basically the project (and Oracle) is dead at this point. No financing. No revenue. No cash on hand.
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@davidgerard Do you have a link that isn't behind a pay wall please David? The one on archive.org is broken.