A week ago, analyst TD Cowen revealed that Microsoft had canceled leases "totalling a couple hundred MWs," with "at least two private data center operators across multiple US markets." The report also details how Microsoft "pulled back on converting negotiated and signed Statement[s] of Qualifications (SQQs)," which it added
There’s been talk for a while that “AI” has reached a point where merely scaling up compute power is yielding diminishing returns; perhaps Microsoft agrees with that assessment.