According to investment firm TD Cowen, Microsoft has recently canceled leases for data center capacity in the U.S., amounting to several hundred megawatts – roughly the

An analyst note flagging a possible slowdown by Microsoft (MSFT.O), opens new tab 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.

Skepticism has been growing among investors over the billions of dollars U.S. tech firms have been channeling into AI infrastructure due to slow payoffs and breakthroughs at Chinese startup DeepSeek,