Wealthion · Monday, November 2, 2026
Steven Feldman discussed an $18 billion data center project involving Blue Owl and Oracle, where a pipeline energy permit was delayed and Oracle issued a force majeure notice. Feldman noted that while force majeure events happen in real estate, seeing them on projects of this magnitude is unusual.
“There was an $18 billion data center being built. And like any large real estate project, it had quite a few approvals and things that needed to be connected. So, uh... And it'll... was the tenant. They needed a permit. Alright. to get a pipeline to provide energy, and the permit, shockingly, has been delayed.”
“And Ploow put up $3 billion, Lenders put up $15 billion, and Oracle sent the force Majority Hope. That basically says there's a reason we won't be paying rent, but we're not in default.”