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The Marked Chart Wire · Tech and AI
AI and chips
Microsoft is said to be increasing scrutiny of Nebius, IREN, and Nscale due to rising construction costs and project delays, including a setback at an IREN Texas facility and the withdrawal from three Nscale projects.
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AI Spending
Microsoft is said to be reducing its Neocloud commitments because of delays and rising costs at a Texas site involving Iren.
Data Centers
Microsoft reportedly refused to increase capacity at Nscale's Texas site because power grid permits are not final. The company committed to 240 MW but skipped an option for more space before Nscale's IPO.
AI Infrastructure
JPMorgan notes that tighter supply benefits cash-rich hyperscalers like Microsoft and Amazon, while debt-funded rivals like CoreWeave face rising costs. CoreWeave's five-year CDS spread exceeded 1,100 basis points, signaling elevated credit risk.
HotAI Spending
A report claims Microsoft faces a $5 billion shortfall in AI spending. Satellite imagery is said to indicate construction setbacks at IREN facilities.
HotData Centers
Satellite photos show the Iren Horizon 4 facility lacks necessary power units. Nebius is delayed to 2027.
AI Infrastructure
Shares in AI infrastructure companies declined following Democratic victories in Congress and Texas, where a potential data center moratorium could impact 27% of planned US capacity.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.