Oracle Stock (ORCL) Slides despite Pressing on with Data Center Campus in New Mexico

FomoAnxiety · 2026-03-03T17:22:48+00:00

Oracle's shares fell slightly as it advances Project Jupiter, its AI data center in New Mexico. The company urged for air permits for natural-gas microgrids, assuring residents that their electricity bills won't rise due to advanced emission controls. Despite concerns over debt, analysts maintain a Strong Buy rating for Oracle.

FomoAnxiety

2026-03-03 17:22:48

Abstract generation in progress

Oracle’s ORCL -0.26% ▼ shares edged lower on Tuesday morning, even as the enterprise software giant pushed forward with Project Jupiter, its planned AI data center campus in southern New Mexico.

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Josh Pitcock, a senior vice president at Oracle, in a blog post disclosed that the company — which has been making the shift from a database powerhouse to a top AI cloud capacity provider — has sent a letter to the environmental board of the U.S. state, urging the approval of air permits for natural-gas-powered microgrids tied to Project Jupiter.

An air permit is a legal authorization that enables a facility to emit certain pollutants into the air while under strict monitoring to ensure compliance with environmental and health regulations. On the other hand, microgrids are local power systems designed to generate and distribute electricity to a specific site or location.

Oracle Says AI Campus Will Not Drive Up Power Bills

Oracle’s letter follows concerns among residents of Doña Ana County’s East and West regions about how the microgrids will operate and meet the state’s emission targets. Pitcock pointed out that the power system will work outside the local grid, ensuring no impact on residents’ electricity bills.

“The microgrids will use advanced emission controls and be subject to continuous emissions monitoring to meet or exceed state and federal air quality standards,” he added.

Oracle’s push for Project Jupiter is despite concerns about its expanding debt load for the AI cloud infrastructure buildout.

Trump Pushes Big Tech to Cover Rising Power Costs

The executive’s comment on electricity bills comes as concerns over how Big Tech’s massive data center expansion is affecting household energy costs have risen to the top of the national agenda.

Last week, President Donald Trump once again called on tech companies to pay for their own supply, asking them to sign a pledge to that end.

Is Oracle a Good Stock to Buy?

On Wall Street, Oracle’s shares remain a Strong Buy based on analysts’ consensus rating. This breaks down to 25 Buys and six Holds issued by 31 analysts over the past three months.

Moreover, the average ORCL price target of $281.93 suggests an impressive 90% upside from current trading levels.

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