Updated version 1 - According to Bloomberg, Oracle invoked the "force majeure" clause to mitigate risks in its data center project.

Details supplemented in paragraphs 3 and 4

Reuters, September 24 - According to a Thursday report by Bloomberg, Oracle (ORCL.N) is seeking to avoid the risk of rising costs from a major data center project in New Mexico by issuing a "force majeure" notice to developer Blue Owl (OWL.N).

The report, citing people familiar with the matter, said that after the news broke, the company's shares fell about 4% in pre-market trading. Reuters was unable to independently verify the information.

According to the report, Oracle aims to delay payments to deal with potential setbacks to the data center project known as "Project Jupiter" if it fails to become operational as scheduled in 2028, rather than withdrawing as the main tenant.

When uncontrollable issues arise, companies usually invoke force majeure clauses to be exempted from contractual obligations. Oracle and Blue Owl have not yet responded to Reuters' requests for comment.

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