Oracle’s $18 billion data center debt under pressure: FT

About $18 billion in loans tied to an Oracle-leased data center in New Mexico has come under pressure, with loans quoted at 89 to 91 cents on the dollar by syndicate banks including Santander and Jefferies , the Financial Times reported on Friday.

The development comes amid concerns that growing local opposition to the project over fears it would impact water supply and air quality could derail Oracle’s massive AI infrastructure build-out, the FT report said.

The 1,400-acre “Project Jupiter” campus in Dona Ana County is part of Oracle’s broader agreement with OpenAI to provide AI computing capacity.