Thread

Oracle on the hook to pay data centre investors even if site has no electricity

158 points · 154 comments · Betelbuddy

runeks · 1790331875 · focus · HN ↗
> 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?
1. dgellow · 1790332712 · focus · HN ↗
  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
  1. athrowaway3z · 1790333505 · focus · HN ↗
    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.
    Cpoll · 1790334170 · focus · HN ↗
    > 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.
    adrianN · 1790334271 · focus · HN ↗
    Even a billionaire doesn’t have many _good_ years left after 80.
    Iolaum · 1790335680 · focus · HN ↗
    not yet anyway

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