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COMPANY · ENTITY #5911

SoftBank

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EVENT TIMELINE

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COMPANIES · 1 SOURCE · TechCrunch AI

Oracle issues force majeure notice for Project Jupiter (Stargate New Mexico data center)

Oracle has sent a force majeure notice to the developer of Project Jupiter, the Stargate data center campus in New Mexico, according to Bloomberg; the notice would allow Oracle to delay payments if the facility misses its 2028 target to come online. Oracle and the developer’s owner (Blue Owl Capital) say commitments remain intact, but the site has faced energy-supply setbacks including a delayed Energy Transfer gas pipeline and pending permits for Bloom Energy fuel cells.

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MONEY · 1 SOURCE · The Decoder

SoftBank to issue $10bn and €1bn junk bonds to fund OpenAI stake

According to the Financial Times, SoftBank plans to borrow more than $11 billion from investors via high-yield (junk) bonds—$10 billion and €1 billion—to fund another payment for its stake in OpenAI; terms were expected to be set Thursday and the payment is due in October. The company also intends to swap previously arranged short-term loans (up to $40 billion) for longer-term debt, a move that could temporarily push it past its own debt ceiling, and the FT notes SoftBank’s data-center business is counting on OpenAI contracts for future revenue.

7.0