Open
The Marked Chart Wire · Tech and AI
AI Spending
Microsoft is said to be reducing its Neocloud commitments because of delays and rising costs at a Texas site involving Iren.
Part of a series: AI Spending: the latest, in order
Prices from Live · updated 10:58 AM ET. Each tile opens the stock's chart and news.
New to this? Read: Reading a stock chart
AI Infrastructure
Microsoft is said to be withdrawing from a 500 MW Texas expansion with Nscale and a UK project due to delays. The company's quarterly capital spending came in at $45.2 billion, below expectations.
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 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.
HotAI Spending
The SOXX ETF dropped over 23 percent in a month, with Intel and Cerebras losing nearly half their value. Goldman Sachs warned that Democratic midterm wins could lead to limits on AI building projects.
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.
AI Spending
Dan Ives estimates that 5 to 10 percent of planned US data centers could be canceled due to political opposition. He warns semiconductor stocks may drop another 10 to 12 percent before stabilizing.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.