Despite a pledge made in January to spend $80 billion on AI data centers in FY 2025, a new report indicates Microsoft is already dropping some of its current data center leases.

Microsoft has reportedly cancelled contracts with multiple operators representing gigawatts equal to two data centers.

An analyst note flagging a possible slowdown by Microsoft in leasing data center capacity grabbed the market's attention on Monday, lending credence to skepticism among investors worried that the AI-led stock-market boom might be running out of steam.