Market Watch: Oracle Issues Force Majeure Notice Amid Corporate Shifts

Oracle sent a 'force majeure' notice concerning a large data center project in New Mexico, which was planned to come online in 2028. The company stated it was seeking to protect itself from potential cost increases related to the project. Shares of Blue Owl, the developer of the project, fell 5 per cent following the report. Meanwhile, Meta Platforms launched the Charm gadget for its Muse consumer AI agent, and its shares climbed 1.1 per cent.

The market reacted to the corporate developments, with Oracle shares falling around 4 per cent in premarket trading after the report. The concurrent market movements included MGM Resorts slumping 10 per cent after Barry Diller's People Inc withdrew its purchase proposal.