Blue Owl [Capital] is developing an AI data center called Project Jupiter for Oracle. Oracle sent a notice citing force majeure, a legal term, to Blue Owl. The notice is an attempt to put off payments if the data center gets derailed and fails to come online on time. Now the debt tied to Project Jupiter was already trading at stress levels at around 90 cents on the dollar. I'm sure it's under more pressure today, Thursday. Although this shows Oracle is becoming increasingly nervous about its lack of cash flow, its high debt levels and its weak credit ratings.
~ Steve Eisman, "The Enron-Era Tricks Are Back in AI: How These Companies Are Hiding Their Debt," The Real Eisman Playbook, 3:45 mark, September 25, 2026
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