Shares of Bloom Energy jumped Friday after a Wall Street firm reassured investors that the company won't be affected by Oracle's push to protect itself against potential delays on its massive data-center project.

Oracle sent a force majeure notice Thursday to Stack Infrastructure, the developer of its Project Jupiter campus in New Mexico, Bloomberg reported. This aims to defer potential payment obligations if its Project Jupiter campus in New Mexico faces external, uncontrollable delays past 2028.

Investors were rattled following the news, sending shares of Bloom Energy-which is poised to power up the data center with up to 2.45 gigawatts of solid-oxide fuel cells-down 3.1% on Thursday.

Oracle and Bloom Energy, however, have since reiterated their commitment and expect the site to proceed on schedule.

Bloom Energy stock rose 8.5% to $289.49 and was the best performer in the S&P 500. The stock was on pace to have its best month since April, when it rose 109%, according to Dow Jones Market Data. Shares have surged 234% this year.

Morgan Stanley analyst David Arcaro wrote Friday that Oracle's force majeure declaration is more of a proactive legal maneuver instead of a sign of the project's failure. He expects that Bloom Energy won't be affected by Oracle's recent notice. The firm reiterated its Overweight rating and $310 price target.

The analyst added that the project isn't included in Bloom's fiscal 2026 guidance, meaning that it poses no risk to its current-year financial estimates.

A force majeure clause legally frees companies from their contractual obligations based on factors beyond their control. Arcaro noted, however, that contractual provisions should protect Bloom regardless of site delays. If the New Mexico site is scrapped or stalled indefinitely, Arcaro noted, Oracle can take those fuel cell shipments and send them to its other data center developments. It's a win-win scenario regardless.

Arcaro assured that the delays have nothing to with Bloom's technology. Instead, they stem from a 17-mile natural gas pipeline permitting process and local New Mexico air quality permits.

Bloom Energy said in a post on X Thursday afternoon that Oracle "remains committed to Project Jupiter and its contract with Bloom to deliver 2.4 GW of fuel cell capacity."

Oracle echoed those sentiments in a statement to Barron's.

"Force-majeure notices are commonplace in developments of this scale and are often used to preserve contractual rights among project partners," a spokesperson said in an emailed statement. "They do not, by themselves, establish a project delay or change delivery expectations."

Project Jupiter is part of the Stargate project Oracle has with OpenAI. It invests billions of dollars in new data centers across the country. The New Mexico campus could receive an initial minimum investment of $50 billion, with the potential for up to $165 billion over 30 years.

Stack Infrastructure is owned by alternative asset-management company Blue Owl Capital. Shares of the company rose 0.4% on Friday.