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.

TD Cowen analysts reported in a research note Friday that Microsoft had canceled leases with “at least two data private center operators” in the U.S., amounting to a few hundr