‹ BackHN Continuity

Thread

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

158 points · 154 comments · Betelbuddy

  1. runeks · · 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 · · 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 · · 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.

        1. dgellow · · focus · HN ↗
          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

          1. be8e9dmrro · · focus · HN ↗

            [dead]

            1. iso1631 · · focus · HN ↗
              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.

            2. nkrisc · · focus · HN ↗
              Russia is being bombed by the country they chose to invade.
Open on Hacker News to reply ↗

Unofficial Hacker News client; not affiliated with Y Combinator.