TNB Tech Minute: Cracks Appear in Oracle’s New Mexico Data-Center Project

0:00This episode is supported by Anthropic, the team behind Claude. Every business wants to move faster. Few can afford to be wrong. That's why the brands you trust also trust Claude. Here's your morning TNB Tech Minute for Friday, September 25th. I'm Julie Chang for The Wall Street Journal. Oracle's New Mexico AI Data Center project is facing challenges over power supply, permitting, and local resistance. People with knowledge of the deal say Oracle signed an uncancellable lease for an AI data center campus in New Mexico to support OpenAI, committing to pay rent even without power. But following community opposition, Oracle dropped plans for gas turbines and diesel generators and has struggled with state air permits.

0:46State officials also twice rejected part of a planned 17-mile natural gas pipeline, and sources say Oracle removed a key land and power partner. A spokesman for the company said Project Jupiter remains on track. Novo Nordisk agreed to pay up to$1.3 billion to license and develop Nenexa's drug delivery technology. The exclusive deal covers Nenexa's PharmaShell technology, which could cut the frequency that patients need to inject obesity and diabetes drugs. The technology applies an ultra-thin coating to drug particles for controlled, sustained release. Novo will lead global development and commercialization.

1:28And climate tech venture investors are shifting their focus from climate change and decarbonization to AI and powering data centers. According to market intelligence company Currents, investments into energy and data center companies by climate tech venture and growth funds totaled $31 billion so far this year, accounting for more than two-thirds of all capital deployed by such investors. Five years ago, these sectors represented about a fifth of climate tech dollars. While criticized for high resource consumption and carbon emissions, VCs argue their involvement ensures AI expands sustainably.

2:07That's your TMB Tech Minute. Join us again this afternoon for more. See what's next at claude.ai slash wsj.