Oracle's Data Center Project Uncertainty Sends Bloom Energy Shares Down 7%

Stock News09-24 23:44

On Thursday, Bloom Energy (BE.US) shares plunged more than 7% after Oracle issued a force majeure notice concerning its New Mexico data center project.

Oracle reportedly invoked force majeure clauses in an attempt to erect a financial firewall around its massive New Mexico data center project, a move that has introduced fresh uncertainty into the already embattled Project Jupiter and quickly transmitted pressure across the entire financing chain.

Investor concerns about the project's prospects have spread from core participants to peripheral supply chain players. Project Jupiter utilizes Bloom Energy's fuel cells, and as a key data center power provider, the company's stock price has come under pressure.

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