| ▲ | runeks 4 hours ago |
| > The tech group has issued a force majeure notice related to the power supply to the project developer, a unit of Blue Owl Capital, after the site ran into permitting delays after rising local opposition. Since when can failing to get a permit be considered force majeure? Doesn't majeure specifically denote something large scale and out of anyone's control, such as a hurricane? |
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| ▲ | dgellow 4 hours ago | parent | next [-] |
| Oracle is in a pretty bad situation, it’s a desperate move. Their debt is rated just above junk since July. They are completely over leveraged. There is a reason the share price has been trending down so much |
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| ▲ | gehsty an hour ago | parent | next [-] | | Failing to get a permit is not an act of god, having to pay even when the site does t have power is poor milestone / payment planning. Also it’s quite hard to request payment if the thing you are buying is not working (appreciate this quite complex here), but if the people who are delivering the data center are responsible for delivering the power, it feels like oracle would be within reason to not pay? | |
| ▲ | athrowaway3z 3 hours ago | parent | prev [-] | | Its funny how before Oracle got in everybody was guessing who'd be swimming most naked when the tide goes out. CoreWeave obviously, but OpenAI likely as well depending on whom you'd ask. With the contracts that "One Rich Asshole Called Larry Ellison" jumped on its without a doubt Oracle going down second if not first. He's just gambling because he's old and feeling bold. | | |
| ▲ | dgellow 3 hours ago | parent | next [-] | | I had that exact thought when SoftBank got involved :) It’s like if I see the EU announce a large investment in AI, always makes me nervous given how we are often late to the party | | |
| ▲ | be8e9dmrro 2 hours ago | parent [-] | | [flagged] | | |
| ▲ | nkrisc 2 hours ago | parent | next [-] | | Russia is being bombed by the country they chose to invade. | |
| ▲ | iso1631 2 hours ago | parent | prev [-] | | wtf are you on about? There's certainly been some small attacks in the EU+ caused by Russia, and many more attributed to Russia, and of course Ukraine, which is not in the EU and never has been, is bombing Russian cities in retaliation for the massive invasion and continued occupation Russia launched some years ago. |
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| ▲ | jeltz 2 hours ago | parent | prev | next [-] | | What makes to possible collapse of Oracle worse is that they have an actual business too that is currently getting cannibalized to feed the AI projects. If coreweave fails that is bad but oracle failing will be worse. | | | |
| ▲ | chicken-stew 2 hours ago | parent | prev | next [-] | | Does that jeopardise the Warner Bros deal? | |
| ▲ | Cpoll 3 hours ago | parent | prev [-] | | > he's old. He's only 82, and he's got a billion-dollar nonprofit dedicated to keeping him healthy. Don't count on him being on the way out. | | |
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| ▲ | surgical_fire 3 hours ago | parent | prev [-] |
| We have to account for the fact that Oracle is a law firm with a software branch attached to it. Investors who (rightfully) see this "force majeure" claim as bullshit will have to drag Oracle through court, and Oracle probably counts on this taking years to get settled. |
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| ▲ | brookst 3 hours ago | parent [-] | | And there’s a good chance of inappropriate protective action from the US government. |
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