8 Min Read
Oracle sent a force majeure notice to Blue Owl's Stack Infrastructure unit, reserving the right to defer payments if the $165B Project Jupiter campus in New Mexico misses its 2028 opening. The delay traces to a gas pipeline the state twice rejected, and the project's $18B loan was already trading near 90 cents on the dollar.
ORCL · Since The Event− 12.80%ReadMarch to June quarterJune to August quarter
7 Min Read
Oracle booked $19.3 billion of revenue in the quarter ended August 31 and spent $28.5 billion on data centers. The backlog reached $664 billion; the stock fell 5.38% during the session, rose more than 6% after the close, and ended back where it started the day.
ORCL · Since The Event− 22.01%Read10 Min Read
ERCOT's interconnection queue holds 474 GW of data center requests; the most those loads have ever drawn at once is under 3.9 GW. A letter with no legal force stopped the entire process.
VST · Since The Event+ 4.05%Read9 Min Read
The debt funding Broadcom's AI chips sits inside a special-purpose vehicle and never reaches the company's own statements. Only the borrowing stays off the balance sheet; the risk sits in the footnotes, under the name residual value guarantee.
9 Min Read
The 30-year U.S. Treasury yield touched 5.31% on Monday, a level last seen in 2007. The Fed has not moved since June — four separate forces are driving this selloff, and one of them is data center financing.
10 Min Read
Nvidia bought 20% of Lancium, owner of Stargate's first operational site, for $2 billion. The conditional final $1 billion depends not on sales but on securing interconnection from the Texas grid.
previous guidancerevised guidance
9 Min Read
On August 6 Burry disclosed shorts in Oracle at $144.63 and Nebius at $211.77. His case is not that the shares are expensive — it is that the companies building AI infrastructure assume their hardware lasts long enough to inflate today's earnings and push the bill into the future.
