Oracle Stock Hits 52-Week Low After New Mexico Rejects Pipeline for AI Data Center

Oracle stock fell about 3.5% to a fresh 52-week low near $122 after New Mexico Land Commissioner Stephanie Garcia Richard rejected, for the second time, a natural gas pipeline needed to power Oracle's 'Project Jupiter' data center. The 2.5-gigawatt facility is part of the $500 billion Stargate AI infrastructure initiative with OpenAI. The commissioner cited environmental concerns, including over 10 million tons of annual greenhouse gas emissions and water usage in an arid region. The denial threatens to delay the project's power timeline from 2027 to 2029, potentially adding billions in costs. The stock drop reflects broader investor anxiety about Oracle's massive AI spending and how it will finance capacity expansion.

First published Aug 4, 02:51 PM UTCUpdated Jul 21, 05:17 PM UTC1 reports · 1 sources

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Oracle Stock Hits 52-Week Low After New Mexico Rejects Pipeline for AI Data Center

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Oracle Stock Hits 52-Week Low After New Mexico Rejects Pipeline for AI Data CenterYahoo FinanceWesternJul 21, 05:17 PM UTC

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