ORCL

We got Oracle, we got Adobe, and we got Restoration Hardware on deck today.

We do have big earnings today. Restoration Hardware, Oracle, and Adobe will be looking at those. Uh Adobe and Oracle are going to come out first at 5 minutes after the bell and then Restoration Hardware will be 5 minutes after that.

Oracle is being forced to move forward in the field of artificial intelligence. Today we will begin with the news that Oracle has declared force majeure on a new data center project in New Mexico.

In short, Oracle claims that it is not responsible for costs or expenses in the event of delays to this project, I believe it is called Project Jupiter. It is supposed to start operating in 2028.

Today we're talking about Oracle, that's our area of expertise, Cory. Let's talk again about Oracle, which made headlines and cited force majeure to protect itself from its data center.

What did you think of this when you first saw it?

Because there are many aspects worth discussing, I would like to ask you about everything related to Oracle. You can take everything I say with caution. Someone at Oracle said, "Why do you always say this before you talk about us?"

But I want you to know that I am biased. Okay, I'll give you my honest opinion, but you need to understand my bias. I was worried. Now I see this and I wonder: "Force majeure?"

I hope there isn't a hurricane in Texas. In fact, no one knows. This is generally the purpose of this clause, which is to deal with events beyond the company's control, i.e., major events that trigger force majeure.

I want to understand what this clause means, but I want to think about it in the context of Oracle.

Oracle is taking steps to protect itself from potentially increased costs associated with its massive data center in New Mexico, according to Bloomberg.

The company issued a force majeure notice to the project developer, Blue Owl, as regulatory hurdles threaten its planned 2028 opening.

But the same concerns that may have started to surface a little in some people over the summer regarding spending cash flow and everything, Oracle in many ways was a kind of model for this kind of influence on the part of some of these broadband cloud companies.

You have received a force majeure notice today. I am interested to know your opinion on this, as it perhaps represents the opposite, or less optimistic, side of the news we have received about artificial intelligence today.

We've got credit default swaps skyrocketing well past 2008 levels for Oracle. And today Oracle is in the news for sending a force majour notice to stack infrastructure which is the blue owl developer for project Jupiter in New Mexico.

Apparently, the problem is their natural gas pipeline that they need to fuel their blue uh or bloom energy fuel cells is delayed yet again. And so this is leading the stock to sell off and leading once again to renewed fears about the artificial intelligence concentration of economic power so to speak.