U.S. stock futures drift lower as soaring yields, oil prices weigh

Oracle Corp. shares fell 4% after reports it issued a force majeure notice for its $165B AI data center in New Mexico, citing power supply delays. The project, powered by Bloom Energy, faces regulatory hurdles and a delayed natural gas pipeline. Analysts note Oracle's tighter cash position may amplify infrastructure risks. Blue Owl Capital and Bloom Energy shares also declined.

Meta Platforms (META) rose 3.52% to $770.27 on Thursday, driven by positive analyst sentiment and its Meta Connect event. Wells Fargo raised its price target to $796.00, and the company showcased AI technologies, including Muse, a personal AI agent with free and subscription-based models. Morgan Stanley estimated Muse could generate $1.3 billion in annual revenue by 2028. Legal challenges remain a backdrop for the stock.

Meta introduced new camera-free AI glasses and a Muse Charm pendant. The glasses feature privacy-focused designs, like a recording indicator light. Meta aims to expand its wearables, with new Ray-Ban models priced from $799 and upcoming VR glasses for $1299. The Muse AI agent app, which integrates with various services, became the top free app on app stores. Meta faces privacy and child safety challenges, recently settling a $18b lawsuit in the US.

Oracle (ORCL) invoked force majeure for its $165B Jupiter data center in New Mexico, citing delays due to regulatory hurdles and opposition. The project, developed by Blue Owl Capital (OWL) and powered by Bloom Energy (BE) fuel cells, is crucial for AI growth. Oracle's shares are down 55% since January 2025, and its credit rating is near junk status. Delays could impact AI ecosystem and other hyperscalers' projects.

Oracle Corp. invoked 'force majeure' for its Project Jupiter data center in Doña Ana County, according to Bloomberg. The company assured commitment to the project, citing regulatory challenges. Oracle's stock fell over 4% to $138 per share. Q1 fiscal 2027 earnings were $1.56 per share, with $6.7B in profits, up 57% YoY.

Oracle (ORCL) sent a force majeure notice to Stack Infrastructure regarding Project Jupiter, a New Mexico data center, due to potential delays. Oracle seeks to defer payments if the 2028 opening is missed. The project, financed by 20 banks with an $18B loan, is part of the Stargate AI infrastructure initiative. ORCL shares fell 4% premarket, along with other involved companies. The notice highlights execution risks for Oracle's AI projects.