project
Stargate is a multi-site AI data center initiative backed by OpenAI, Oracle, SoftBank and others, with projected costs exceeding $500 billion.
No evidence-backed relationships are recorded.
Campuses in Texas and Ohio are pursuing up to 27 gigawatts between them, against an average draw of about 36 gigawatts for all US data centers in 2025. For buyers of that capacity, the open budget line is the new-generation cost Indiana lawmakers want developers to share.
Reality
Oracle issued a force majeure notice on Blue Owl's Jupiter campus, whose reported $18bn of bank loans already trade below 90 cents on the dollar. Lenders who priced Oracle's credit now also have to price who pays when the power arrives late.
Perspective Coverage
12 publishersReality
Oracle sent Project Jupiter's developer a force majeure notice that lets it delay payments if the New Mexico campus misses its 2028 target. The site's gas pipeline and air permit are both still pending, so capacity plans built on that date need a fallback.
Perspective Coverage
6 publishersReality
The head of data centers has left, the brief has been divided, and the part growing fastest is leasing capacity that somebody else already paid to build.
Perspective Coverage
5 publishersReality
A loan quoted below par is the only continuously updated figure anyone has on Oracle's quarter-built New Mexico AI campus, and whether it prices the buildings or the tenant's rating decides how much a stall report matters.
Reality
Oracle invoked force majeure on Project Jupiter, a New Mexico AI campus for OpenAI now expected to run about a year late. The delay postpones the higher post-completion return on Blue Owl's roughly $3 billion of equity.
Reality
The September 21 directive tells Texas environmental regulators to stop all data center permits until two state audits finish. A dedicated gas plant behind the meter still needs an air permit from the same agency.
Reality
SoftBank's data centre arm filed on September 1 to raise $5bn to $7bn on Nasdaq, and the price under discussion works out at about 180 times an annualized half-year revenue of $139m against $439bn of contracted backlog.
Reality
The July figures OpenAI showed to win a computing deal describe a build that costs more while taking less cash out of the company, because partners are financing it. The obligations sit on their accounts.
Reality
Michigan's package is $16.3bn anchored by PIMCO, Texas and Wisconsin about $38bn, New Mexico $18bn. Against a target of up to 10 gigawatts, the named money works out at roughly $7.2bn per gigawatt. The suppliers bill on megawatts energised.
Reality
CoinShares marks stabilised data centre capacity at $27m a megawatt and energised mining capacity at $3m, and the conversion cost in between explains why Core Scientific, Keel, Cipher and IREN are walking away from hashrate.
Reality
CNBC reports both labs have sounded out powered sites of roughly 20 to 30MW in the UK, the Nordics and the US. A hall that small is usable because inference requests can be routed independently.
Reality
Al Olama told Dreamforce the war cost the UAE nothing in lives or business, in the same session where Marc Benioff said both of Salesforce's UAE backup sites were destroyed and AWS said Bahrain is still down.
Reality
The Stable Token Commission's September 14 memo opens with a $292 million North Korea-linked bridge theft and ends with two access-control lapses under Wyoming's own token, 149 days after the attack that started the review.
Reality
Oracle disclosed the plan on the 11th and said on the 12th that Ellison had terminated it. Priced off the $341.39 close the same account reports for the 10th, the 50 million shares come to $17.1 billion.
Reality
Two compute landlords raised $4.5bn between them while cloud security, protein bars, payroll software and robot silicon split under $900m, and the second-biggest cheque came from a trading firm rather than a venture fund.
Perspective Coverage
3 publishersReality
OpenAI paused new sign-ups to its $200 ChatGPT Pro plan because Astra demand outran its compute. It closed the tier to new buyers and left the price where it was, and existing Pro accounts keep running.
Reality
Oracle cut about 13% of its headcount in fiscal 2026 and raised its restructuring charge by $700m on September 11. Free cash flow ran about $23.7bn negative, and management has guided capital spending to roughly $70bn.
Reality
Oracle spent $28bn on construction and equipment last quarter, which is $5bn more than a record quarter of cash generation. Customers renewing GPU capacity into 97.9 percent utilisation are paying about 20 percent more.
Reality
Reuters reports that the single Abu Dhabi campus is becoming a network of smaller sites, with underground halls, blast-resistant concrete and air defence under discussion and no cost or schedule attached. The first phase is still going ahead.
Reality
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