Bloom Energy falls as Oracle invokes force majeure on AI project

Bloom Energy Corporation stock dropped nearly 5.0% in morning trading Thursday after Bloomberg reported that Oracle Corporation invoked a force majeure clause on Project Jupiter, a $165 billion AI data center campus in New Mexico planned to be powered by Bloom Energy's gas-powered fuel cells.

Oracle sent the force majeure notice to Blue Owl Capital's Stack Infrastructure unit, indicating the company may suspend payments if the facility does not come online by its targeted 2028 launch date.

The project faces delays due to a critical natural gas pipeline developed by Energy Transfer LP (NYSE: ET) that was scheduled to begin service this month. The pipeline has been delayed by nearly six months to February 2027 after repeated permit denials from the New Mexico State Land Office.

Without the pipeline operational, Bloom Energy's fuel cells at the site cannot function, leaving the data center campus without a viable power source and putting Bloom's involvement in the project at risk.

Bloom Energy also faces an ongoing federal securities class action alleging the company misled investors about its reliance on Chinese-sourced scandium. The case is approaching a September 28, 2026 lead-plaintiff deadline.

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