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I'm your host, Ed Zitron.
That's a whole sign Now I've talked about the pale horses of the AI apocalypse in the past and these are the events that's signify that the generative AI era is coming to an end.
And the subject of this episode and its second part, well, I believe represents the biggest payless horses of the entire flock.
So on February 21, analyst TD Cohen revealed that Microsoft had cancelled leases and I quote totaling a couple hundred megawatts with at least two private data center operators across multiple US markets cancelled.
The report also detailed how Microsoft pulled back on converting negotiated and signed statements of qualifications, which it added was precursors to a data center lease.
So effectively the first step before you really agree to something.
Well, the last step, I guess.
Although the analyst, which is part of the TD bank company added it was unclear whether Microsoft might convert these SQQs in the future, these generally closed close to 100% of the time.
According to them, canceling these was effectively rather unusual.
Now TD Cohen also added that Microsoft was reallocating a considerable portion of its projected international spend to the US which suggests to TD Cohen that there was a mater slowdown in international leasing for Microsoft.
But one crucial teeny tiny part of the report was missed by just about everybody.
I'm going to read directly from the report and you'll probably be able to tell from the tone of my voice which the most pertinent part is.
Ahem.
As we highlighted in our recent takeaways from ptc, the Pacific Telecommunications Council conference, we learned via our channel checks that Microsoft One walked away from multiple 100 megawatt deals in multiple markets that were in early to mid stages of negotiations, 2 let 1 gigawatt of LOIs on larger footprint sites expire and 3 walked away from at least five land parcels that it had under contract in multiple Tier one markets.
What TD Cohen is saying is not just that Microsoft cancelled some data centers, but that Microsoft also effectively canceled over a gigawatt of data center operations on top of the previously reported multiple hundred plus megawatt deals.
If we add in the land under contract, which is indeterminate based on what TD Cohen has said and the deals that were in flight, the total capacity likely amounts to even more than a gigawatt.