Vice President - Investor Relations

OFSS shares fall over 5% as Oracle flags power delays at AI data centre. OFSS shares fell more than 5% intraday after parent Oracle issued a force majeure notice over possible power delays at its Project Jupiter data centre. The stock was heading for its worst week since January 2025, while Oracle and developer Blue Owl said they remained committed to the project. Published on: 25 Sep 2026, 6:30 am Updated on: 25 Sep 2026, 6:30 am Oracle Financial Services Software (OFSS) shares fell more than 5% on Friday, September 25, after its U.S. parent issued a "force majeure" notice for Project Jupiter. Oracle cited possible delays in securing power for the New Mexico data centre, which it plans to use to supply AI computing capacity to OpenAI. OFSS heads for its worst week since January 2025. OFSS shares touched Rs. 10,332 on the NSE before recovering to Rs. 10,572, down 3.2% during Friday's session. The stock was down about 11% for the week, putting it on course for its steepest weekly fall since January 2025, when it declined more than 12%. The decline follows earlier concern about financing for Jupiter. Last week, banks quoted about $18 billion in loans tied to the campus at 89 to 91 cents on the dollar. Concerns about Oracle's borrowing and setbacks at the site have made the debt harder to sell to investors. Why did Oracle issue the notice? Blue Owl's STACK Infrastructure is developing the 1,400-acre Jupiter campus in Doña Ana County. A person familiar with the agreement told Reuters that Oracle issued the notice over possible delays in securing power. Under the contract, Oracle is responsible for arranging power for the site. Oracle aims to delay certain payments if Jupiter misses its planned 2028 opening, Bloomberg reported. The company is not seeking to leave as the campus's main tenant. A person familiar with the agreement said Oracle cannot terminate the lease. Oracle said Jupiter "remains on our planned schedule." Blue Owl said the notice does not change the companies' financial commitments. The notice addresses potential delays, while both companies maintain that they remain committed to the project. Power delays put project financing under pressure. Jupiter has faced setbacks involving a planned natural gas pipeline and challenges related to water and air-quality permits. The campus forms part of Stargate, the AI infrastructure initiative involving OpenAI, Oracle, SoftBank and other partners. Securing power remains a key step toward opening the facility. Blue Owl has about $3 billion of equity in Jupiter, while Oracle is responsible for debt costs, according to a person familiar with the agreement. Blue Owl earns a lower return during construction and expects a higher return after completion. A later opening would push back the start of those higher payments. Will the delay affect Oracle's near-term revenue? Brokerage William Blair expects limited near-term effects on Oracle despite the concerns about power and regulatory delays. It said Jupiter will contribute no revenue in Oracle's fiscal 2027, leaving that year's revenue unaffected by the campus's delivery timetable. The notice has brought fresh attention to the costs and schedules behind large AI data centres. It does not indicate that OpenAI has reduced its demand for computing capacity. For OFSS, however, the development has added to a week of sharp share losses as investors track Jupiter's power supply and planned 2028 opening.

Market brief: emerging markets shrug off higher rates with record borrowing spree. by AdvisorHub Digital September 24, 2026 Emerging markets shrug off higher rates with record borrowing spree. Emerging-market governments and companies are tapping international bond markets at a record pace despite higher global interest rates, a strong dollar and geopolitical uncertainty. Investor appetite for emerging-market debt has remained resilient as elevated yields attract buyers looking for income and diversification. The borrowing boom comes as developed-market government yields have also risen sharply, increasing competition for investor capital. Why It Matters: Strong demand suggests investors are still willing to move beyond U.S. and European bonds when they are adequately compensated for risk. For diversified portfolios, emerging-market debt can provide higher income, but currency moves, refinancing costs and geopolitical risks remain important considerations. Big bond managers favor quality as Treasury yields top 5%. Some of the world's largest bond managers are responding to this year's selloff by emphasizing shorter maturities and higher-quality securities rather than making aggressive bets on falling rates. Managers overseeing hundreds of billions of dollars say higher starting income is cushioning price declines and creating selective opportunities in investment-grade credit, asset-backed securities and mortgages. Why It Matters: Higher yields are making fixed income more attractive even as inflation, deficits and additional Fed tightening remain risks. For advisors, the message from major managers is increasingly to collect elevated income without taking unnecessary duration or credit risk. AI buildout becomes a $10 trillion bet on the U.S. Economy. Spending on data centers and related artificial-intelligence infrastructure is projected to reach $10.3 trillion between 2025 and 2032, according to estimates highlighted by The Wall Street Journal. That would average roughly 3.6% of U.S. GDP annually, exceeding the relative scale of previous infrastructure booms including railroads, highways and the internet buildout. The investment is supporting construction and economic growth but also increasing demand for power, equipment, labor and capital. Why It Matters: AI is becoming a macroeconomic force rather than simply a technology-sector investment theme. The scale of spending could support industrial, utility and infrastructure companies while also contributing to inflation and creating significant risk if expected returns on AI investment fail to materialize. Alternatives. BlackRock group nears $25 billion data-center deal. A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure's Asia-Pacific data-center portfolio from Blue Owl Capital. The assets could be valued at roughly $20 billion to $25 billion, according to Bloomberg. The consortium includes BlackRock's Artificial Intelligence Infrastructure Partnership and is preparing to conduct due diligence on the portfolio as institutional capital continues pouring into infrastructure needed to support AI computing. Why It Matters: A transaction approaching $25 billion would demonstrate how AI infrastructure is becoming one of the largest destinations for private capital. Data centers increasingly sit at the intersection of private equity, infrastructure, real estate and energy investing, giving alternative managers another large avenue for deploying institutional capital. Cryptocurrency. Bitcoin slides below $84,000 as Treasury yields surge. Bitcoin fell below $84,000 Thursday as the 10-year Treasury yield reached its highest level since 2007, putting renewed pressure on crypto and other nonyielding assets. Dogecoin fell about 7%, while XRP, Zcash and Hyperliquid dropped 5% to 6%. The selloff followed stronger U.S. business activity, a rebound in oil prices and weak demand for a $70 billion Treasury auction, all of which reinforced expectations that interest rates could remain higher. Why It Matters: Bitcoin's reaction underscores how closely crypto has become tied to traditional macro forces. With investors able to earn more than 5% on government debt, higher yields raise the opportunity cost of holding nonyielding assets and make leveraged crypto positions more expensive to finance. Advisors at third-party firms can join a wait list for now. Sep 23, 2026