ORCL, BE Stocks Plunge as New Mexico Rejects Natural Gas Pipeline for Project Jupiter

ORCL4.66%
BE14.83%
According to VanEck analyst Matthew Sigel, on Monday, July 20, Oracle (ORCL) and Bloom Energy (BE) shares fell sharply after New Mexico rejected applications for a natural gas pipeline supplying Oracle's Project Jupiter data center. ORCL dropped 3.5% to its lowest level since April 2025, while BE declined more than 7%. The pipeline rejection threatens Oracle's August 15 target for powering up to 2.5 gigawatts (GW) of Bloom Energy fuel cells at the site, raising the risk of project delays extending into 2027.
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