Project Jupiter, a major AI data center initiative in New Mexico, is reportedly being mothballed amid financial difficulties. The project, developed by Stack Infrastructure and BorderPlex Digital Assets, was intended to support Oracle Cloud Infrastructure and the Stargate initiative linked to OpenAI.
The facility, spanning 1,400 acres, was designed to house four buildings with a 2.45 GW capacity microgrid using Bloom Energy fuel cells. Construction began in September 2025 and reached 26% completion by September 2026. By July 2026, the project generated $80 million in tax revenue.
Financial pressure intensified after Oracle's credit rating was downgraded to BBB- in July 2026. Consequently, the project's $18 billion syndicated loan is trading at 89–91 cents on the dollar, implying potential market losses of $1.6–2 billion.
The project faced regulatory delays due to opposition from environmental groups. On September 17, 2026, the New Mexico Supreme Court lifted permit stays, allowing construction to proceed. Despite reports of the project being mothballed, Oracle maintains that development remains on track.
