Oracle sent its landlord a force majeure notice The reason was straightforward: electricity might not be available. The building is in New Mexico, covering 1,400 acres, and it's meant for running compute power for OpenAI. Last week, the project's loan was only reported at 89 to 91, creditors have already been offering discounts. It still has $664 billion in pending contracts, with an additional $209 billion this year alone— business is at an all-time high. Its stock price dropped from over $320 to $138, more than halved, and yesterday's closing saw another 3+% dip. It’s not short on orders or money, the bottleneck is electricity and that unapproved air permit. This fiscal year, it plans to spend $90 to $95 billion, with $40 billion coming from borrowing and selling shares. The second half of this AI wave depends on power supply— without electricity, valuations will have to take another hit. I’m shorting Oracle stock until they get the power connected.